Billionaire entrepreneur Elon Musk, who cofounded six companies, including Tesla, SpaceX and tunneling startup Boring Company, is no longer the world’s richest person, according to Forbes.
Forbes’ real-time billionaires list now lists the head of LVMH Bernard Arnault, of France, as the world’s richest person, with a net worth of $211 billion.
Arnault is the Chairman and CEO of the LVMH empire, which owns about 70 luxury fashion houses and cosmetic brands, including Louis Vuitton and Sephora.
The company also acquired American luxury jeweler Tiffany & Co in January 2021 for a whopping $15.8 billion.
According to Forbes, Arnault got his start with help from his father who “made a small fortune in construction.”
Arnault used $15 million from that business to buy Christian Dior in 1985.
Four of his five children now work for his empire.
Although Musk fell from the top spot, he comes in second place with a net worth of $188.6 billion.
Among his business dealings, he purchased Twitter in April 2022 for $44 billion.
Amazon founder and Chairman Jeff Bezos comes in third place with a net worth of $120.8 billion.
In addition to founding Amazon in 1994, Bezos also founded aerospace company Blue Origin in 2000 and purchased The Washington Post in 2013.
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