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Bernard Arnault overtake Elon Musk as the ‘richest person in the world’

Elon Musk is no longer the world’s richest man following a dramatic decline in the value of his Tesla shares this year.

According to Forbes and Bloomberg, Elon Musk has been surpassed for the top rank by Bernard Arnault, the CEO of the luxury goods business LVMH.

Elon Musk is Tesla’s CEO and the company’s top shareholder, with an estimated 14% stake.

In October, Elon Musk completed a $44 billion buyout of the social network Twitter.

According to Forbes, Elon Musk is currently worth over $178 billion (£152 billion).

Meanwhile, Bernard Arnault is valued at $188 billion.

Who is Bernard Arnault?

Arnault is a French businessman who is the chairman and CEO of LVMH Mot Hennessy Louis Vuitton, one of the world’s most valuable luxury product groups. Dom Perignon (wine), Louis Vuitton, Fendi, and Marc Jacobs (clothing), and Fenty Beauty by Rihanna are among the 70 brands owned by the company.

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