Home BusinessFrench Arnault tops list of world's richest people, ahead of MuskAmmon News - Bernard Arnault, the billionaire chairman and CEO of global luxury goods company LVMH is now the richest man in the world, passing Elon Musk, according to Forbes magazine. Arnault and his family’s net worth grew to $207.8 billion after a $23.6 billion increase on Friday, passing Musk’s $204.5 billion, according to the Forbes real-time billionaires list. The news comes as Musk’s Tesla struggled in the stock market Thursday, dropping 13%, with Musk losing more than $18 billion in net worth. Meanwhile, LVMH shares were soaring Friday, up over 13% as of 11 a.m. on the heels of news of strong sales. The market cap of LVMH reached $388.8 billion on Friday, compared to Tesla’s $586.14 billion market cap.

Source: Forbes January 28, 2024 12:40 UTC