Recently, the owner of the luxury fashion empire LVMH Bernard Arnault surpassed Tesla CEO Elon Musk to become the richest person on the planet.

Specifically, Forbes’ real-time billionaire rankings show that Arnault’s assets are currently $207 billion, after increasing by $23.6 billion on January 26. Meanwhile, Musk currently owns only 204.7 billion USD. This has helped France’s richest billionaire Bernard Arnault once again surpass Elon Musk, regaining the throne of the richest person in the world.

Theo Forbes

Tesla shares decreased by 13% on January 25 and only increased slightly by 0.3% yesterday. It is known that the reason for the sharp decline in electric car company shares is Musk’s warning that the company’s revenue is likely to grow slowly this year. Instead, the company will focus on a new generation, cheaper electric car model, which will be produced from the middle of next year.

This caused Musk’s assets to decrease by up to 18 billion USD in just one trading session.

In contrast, LVMH shares soared during the session on January 26, closing with an increase of 12.8%. Immediately after the fashion company announced 2023 revenue higher than forecast, with 86.15 billion euros (93.3 billion USD), and increased its annual dividend payment.

Billionaire Bernard Arnault’s full name is Bernard Jean Étienne Arnault, 𝐛𝐨𝐫𝐧 on March 5, 1949 in Roubaix, France in a family with a business tradition. From an early age, he demonstrated his natural business ability and thanks to his daring business ability, he helped him create great success in his business career.

Bernard is known as the king of luxury fashion business in the world. He currently holds the position of president and CEO of Moët Hennessy – Louis Vuitton (LVMH), a giant fashion business that acquires more than 70 famous brands such as: Louis Vuitton, Christian Dior, Fendi, Céline, Givenchy…