Updated March 7th, 2024 at 15:58 IST

Bernard Arnault beats Jeff Bezos as World's Richest Person, Musk slips to No. 3

Arnault's net worth stands at $197 billion, closely followed by Bezos with a net worth of $196 billion, as per the latest data on Bloomberg Billionaires Index.

Reported by: Business Desk
World's richest person | Image:Jeff Bezos, Bernard Arnault, Elon Musk
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Bernard Arnault overtakes Jeff Bezos: LVMH Moët Hennessy Louis Vuitton chairman and CEO Bernard Arnault has once again clinched the title of the world's richest person, surpassing Amazon's Jeff Bezos, according to Bloomberg Billionaires Index. Interestingly, just two days ago, on March 5, 2024, Jeff Bezos ousted Tesla boss Elon Musk as the richest person in the world.

As per the latest data, Arnault's net worth stands at $197 billion, closely followed by Bezos with a net worth of $196 billion. The 72-year-old French billionaire's meteoric rise to the pinnacle of global wealth comes on the heels of his exemplary leadership at LVMH, the world's largest luxury goods conglomerate. Under his stewardship, LVMH has solidified its position as a powerhouse in the luxury sector, boasting iconic brands such as Louis Vuitton, Christian Dior, and Moet & Chandon.

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Photo: Bloomberg Billionaires Index

Musk, the enigmatic CEO of Tesla and SpaceX, had briefly held the coveted position before relinquishing it to Bezos amid fluctuations in the stock market.

Arnault's remarkable climb to the summit of global wealth underscores the enduring success of LVMH and its unparalleled influence in shaping the luxury industry. Born into an industrial family in Roubaix, France, Arnault's journey to becoming the world's richest person is a testament to his entrepreneurial vision and strategic prowess.

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While Bezos and Musk continue to command significant influence in their respective domains of e-commerce and technology, Arnault's unprecedented rise signals a new era in the hierarchy of global wealth. As he assumes his new role as the world's wealthiest individual, all eyes are on Arnault and the enduring legacy of LVMH in shaping the luxury landscape.

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Published March 7th, 2024 at 15:10 IST