• Wednesday, June 12, 2024
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Arnaults overtakes Musk, now reigns as the world’s richest person worth $210bn

Arnaults overtakes Musk, now reigns as the world’s richest person worth $210bn

According to the Forbes rich list, Bernard Arnault has reclaimed his position as the richest man in the world.

The French billionaire and CEO of luxury conglomerate LVMH surpassed Elon Musk on Thursday to become the world’s wealthiest person after shares in his company surged nearly 1.5% during morning trading in Europe.

Arnault’s wealth increased by $7.7 billion on Thursday, bringing his net worth to $210.1 billion, compared to Musk’s $208.6 billion.

Next week, Tesla shareholders will vote on whether to reinstate Musk’s unprecedented $50 billion pay package, a decision Wall Street views as crucial for the carmaker, which is at a pivotal moment in its history.

Read also: Top 10 richest men in the world worth $1.49 tn combined in Q1 2024

Simultaneously, the company’s CEO is attempting to overturn a January ruling by a Delaware judge that struck down the award. Tesla is also seeking to change its state of incorporation from Delaware to Texas.

As of June 6th, with an estimated net worth of $210.2 billion, Arnault emerges as the world’s wealthiest individual, according to the Forbes real-time billionaire list, showing his significant impact on both business and culture.

Close behind Arnault is Elon Musk, the owner of Tesla, with a net worth of $208.6 billion, followed by Jeff Bezos, the founder of Amazon, whose net worth stands at $199.0 billion.

In the same vein, Mark Zuckerberg, the founder of Facebook, and Larry Ellison, the founder of Oracle, hold respective estimated net worths of $173.6 billion and $151.9 billion.