Do you know Bernard Arnault? Without any fanfare, Arnault dethroned Elon Musk as the richest person in the world. Musk has therefore been relegated to second place in this list.
The gentleman is by no means polarizing, he is very discreet, unlike Musk, and he runs his French luxury company LVMH with a masterful hand.
Now worth $171 billion, Arnault’s wealth eclipsed the Tesla CEO’s $164 billion fortune on Tuesday, according to the Bloomberg Billionaires Index https://t.co/R98CDXTyeO
— CNN (@CNN) December 15, 2022
Arnault is the first European to top Bloomberg’s list of the world’s richest people, having already knocked Musk off the top rung of Forbes’ “real-time billionaires” list last week.
Recall that Musk’s net worth, the already controversial new owner of Twitter, dropped from $107 billion in 2022, again according to the Bloomberg Billionaires Index.
In the case of Arnault, the drop was less drastic, by “only” $7 billion.
Despite a heavy loss due to his purchase of the social network, Musk’s fortune is comfortably ahead of Indian industrialist Gautam Adani ($125 billion) and Amazon founder Jeff Bezos ($116 billion).
In closing, let’s point out that Tesla’s share price fell by 54% in 2022, while LVMH’s share price retained its value due to colossal sales in the US and Europe.