Bernard Arnault

2022 - 12 - 13

elon musk

Bernard Arnault is Now the World's Richest Man; Musk Loses Title (PGurus)

According to the Bloomberg Billionaires Index, Bernard Arnault with a personal wealth of $185.4 billion, is now the world's richest man.

[PGurus App](https://play.google.com/store/apps/details?id=com.bilwg.pgurus&hl=en_IN&gl=US). Elon Musk, who saw his net worth tumble by more than $100 billion in 2022, has been replaced by Arnault as the world’s richest man. Bernard Arnault is the chief executive of luxury brand Louis Vuitton‘s parent company LVMH. Meanwhile, Tesla shares have plummeted around 58 percent to date. Elon Musk, 51, is now worth $168.5 billion (as of Tuesday), less than the $172.9 billion net worth of Arnault, 73. [Bernard Arnault](https://www.pgurus.com/?s=Bernard+Arnault) with a personal wealth of $185.4 billion, is now the world’s richest man.

Who Is Bernard Arnault, the World's Richest Person? (Bloomberg)

The LVMH boss has a fortune estimated at $170.8 billion, exceeding Elon Musk's personal net worth.

Elon Musk no longer world's richest person - Bernard Arnault takes ... (New Zealand Herald)

The title now belongs to French businessman Bernard Arnault, the chief executive of the LVMH empire, which includes Louis Vuitton, Christian Dior, Givenchy and ...

She is also the executive vice president at Louis Vuitton. All his children have senior roles at LVMH. In 1989, Arnault became the majority shareholder and chief executive of LVMH. Bernard Arnault is 73 years old and the chief executive of French luxury goods conglomerate LVMH Moët Hennessy – Louis Vuitton, known as LVMH. Musk is also the chief executive of aerospace company SpaceX and social media network Twitter, which he took over in October after months of trying to wriggle out of the US$44b (NZ$68.3b) deal. The title now belongs to French businessman Bernard Arnault, the chief executive of the LVMH empire, which includes Louis Vuitton, Christian Dior, Givenchy and Tiffany & Co, among other well-known luxury brands.

Elon Musk loses title of world's richest person to Bernard Arnault (The Guardian)

Loss of top spot to LVMH chief executive comes after Tesla shares more than halve in value.

The electric car company has lost more than half of its market value since Musk first made a bid for Twitter in April. It calculates that he is now worth about $177bn, compared with Arnault’s net worth of $188bn. Musk has [sold about $20bn of Tesla shares](https://www.theguardian.com/technology/2022/nov/09/elon-musk-sells-tesla-shares-worth-4bn#:~:text=Musk%2C%20who%20is%20the%20world%27s,around%20135%20million%20Tesla%20shares.) since April to fund his purchase of Twitter. [ took ownership of Twitter](https://www.theguardian.com/technology/2022/oct/27/elon-musk-completes-twitter-takeover), is the chief executive of Tesla and its largest shareholder. [falls in the value of shares](https://www.theguardian.com/technology/2022/dec/09/elon-musk-could-lose-world-richest-person-title-tesla-value-almost-halves-twitter) in his electric car company Tesla.

Elon Musk overtaken as world's richest person by LVMH chairman ... (Sky News)

According to Forbes' real-time billionaires list, the 51-year-old's net worth decreased by $4.5bn (-2.9%) in comparison to Arnault, who oversees some 70 ...

Trying to interject the hostile reaction, Musk spent most of the five-minute appearance awkwardly standing still or pacing around on stage. [three council members announced they were resigning](https://news.sky.com/story/elon-musks-twitter-dissolves-trust-and-safety-council-just-days-after-its-members-speak-out-12767148) in a public statement posted on Twitter that said "contrary to claims by Elon Musk, the safety and wellbeing of Twitter's users are on the decline". A year prior, the same happened to Musk. [dissolved its Trust and Safety Council](https://news.sky.com/story/elon-musks-twitter-dissolves-trust-and-safety-council-just-days-after-its-members-speak-out-12767148), which was formed in 2016 to address hate speech, child exploitation, suicide, self-harm and other problems on the platform. [Click to subscribe to the Sky News Daily wherever you get your podcasts](https://podfollow.com/skynewsdaily) [Today, the account has been suspended](https://news.sky.com/story/twitter-account-which-tracked-elon-musks-private-jet-is-suspended-12768020). [greeted with "a lot of boos"](https://news.sky.com/story/elon-musk-admits-a-lot-of-boos-greeted-his-cameo-at-dave-chappelle-gig-12766825) during an awkward on-stage appearance at a Dave Chappelle comedy show in San Francisco. [Tesla](https://news.sky.com/topic/tesla-6868), but stocks closed down 6.87% for the day today. [track the billionaire's aircraft, revealing the amount of pollution they cause](https://news.sky.com/story/worlds-second-richest-man-bernard-arnault-sells-private-jet-so-climate-activists-cant-track-him-12724462). Forbes said that the businessman's wealth peaked in November 2021 when he was worth $320bn (£258bn). The SpaceX and Tesla chief described the tracker, which uses publicly available air-traffic information, as a potential threat to his safety - and offered the teenager behind the social media page $5k (£4k) to shut down the @ElonJet account, which was rejected. According to Forbes' real-time billionaires list, the 51-year-old's net worth decreased by $4.5bn (-2.9%) in comparison to Arnault, who oversees some 70 fashion and cosmetic brands, whose rose by $849m (0.46%).

Bernard Arnault just became the world's richest person. So who is he? (CNN)

Bernard Arnault, the chairman of French luxury goods giant LVMH, has just become the first European to top Bloomberg's list of the world's richest people, ...

He has been chairman and CEO of the company ever since. Arnault bought control of the group, returning it to profitability and embarking on a strategy to develop the world’s leading luxury goods company. Arnault has long held the title of Europe’s richest person, but the 73-year old keeps a much lower profile than Musk and isn’t personally active on any major social media platforms. Still, he is in no imminent danger of falling further down the list: His fortune remains comfortably bigger than that of Indian industrialist Gautam Adani ($125 billion) and Amazon [(AMZN)](https://money.cnn.com/quote/quote.html?symb=AMZN&source=story_quote_link) founder Jeff Bezos ($116 billion), who rank third and fourth on Bloomberg’s list. Arnault had already ousted Musk from the top spot on Forbes’ list of [“Real Time Billionaires”](https://www.forbes.com/consent/?toURL=https://www.forbes.com/real-time-billionaires/#22b1dd5c3d78) last week. LVMH has a market value of €362.4 billion ($386 billion). Six years later, he got wind that the French government was looking for a new investor to take over Boussac Saint-Freres. He began his career in the family-owned construction company, Ferret-Savinel, becoming chairman in 1978 after successive promotions. “In the process, he reinvigorated Christian Dior as the cornerstone of the new organization,” according to a biography on the LVMH website. Musk’s purchase of Twitter The luxury market has remained relatively steady this year, even as surging inflation has led less-affluent shoppers to change their spending habits. [Bernard Arnault](https://edition.cnn.com/2021/02/15/investing/arnault-mustier-spac-tikehau-capital/index.html), the chairman of French luxury goods giant LVMH [(LVMHF)](https://money.cnn.com/quote/quote.html?symb=LVMHF&source=story_quote_link), has just become the first European to top Bloomberg’s list of the world’s richest people, relegating [Elon Musk](https://edition.cnn.com/2022/12/07/business/elon-musk-wealth/index.html#:~:text=Despite%20the%20losses%2C%20Musk%20is,net%20worth%20of%20%24171%20billion.) to second place.