Bernard Arnault surpasses Elon Musk to become world’s richest man

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Published by Adnan Nasir on 29 Jan 2024

Billionaire Bernard Arnault has surpassed Tesla CEO Elon Musk to become the world’s richest man.

CEO of global luxury goods company LVMH, Arnault and his family’s net worth grew to $207.8 billion after an increase of $23.6 billion on Friday, exceeding Musk’s $204.5 billion mark, as per Forbes real-time billionaires list.

This comes after Tesla suffered a blow in the stock on January 25, which plummeted the shares of automaker by 13 per cent. It made Musk lose more than $18 billion in net worth, according to Forbes report.

Meanwhile, on Friday, the shares of LVMH rose by 13 per cent at around 11 am, which was driven immediately after the news of strong sales surfaced. The market cap of the luxury goods company reached $388.8 billion on Friday, as compared to Tesla’s $586.14 billion, as per report by Forbes.

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