Louis Vuitton owner just surpassed Elon Musk to become the richest person in the world helobaba.com
Forbes magazine reported that Arnault and his family’s net worth experienced a remarkable increase to $207.8 billion, marking a $23.6 billion surge on Friday. In contrast, Tesla’s CEO Elon Musk held a net worth of $204.5 billion, as noted on Forbes’ real-time billionaires list.
LVMH’s market capitalization reached $388.8 billion on Friday, while Tesla’s market cap stood at $586.14 billion.
As per the Forbes real-time billionaires list, the top 10 richest individuals globally are:
San Francisco, Jan 28 (IANS) Bernard Arnault, chairman and CEO of global luxury goods company LVMH, has returned as world’s richest man as Elon Musk lost more than $18 billion in his net worth after Tesla stock nosedived last week, wiping over $73 billion off the company’s market value.
Bernard Arnault & Family ($207.6 billion)
Elon Musk ($204.7 billion)
Jeff Bezos ($181.3 billion)
Larry Ellison ($142.2 billion)
Mark Zuckerberg ($139.1 billion)
Warren Buffett ($127.2 billion)
Larry Page ($127.1 billion)
Bill Gates ($122.9 billion)
Sergey Brin ($121.7 billion)
Steve Ballmer ($118.8 billion).
Mukesh Ambani, chairman of India’s Reliance Industries (RIL), holds the 11th position on the World’s Richest Persons list, boasting a net worth of $104.4 billion. Gautam Adani secures the 16th spot with a net worth of $75.7 billion.
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Recently, LVMH reported a 10% increase in fourth-quarter sales, driven by robust demand, especially from Chinese consumers, for its high-end fashion brands such as Louis Vuitton, Dior, and Tiffany. The luxury group’s sales for the final quarter amounted to nearly 24 billion euros ($26 billion).
The fashion and leather goods division of LVMH, encompassing major labels like Vuitton and Dior, witnessed a 9% sales growth during the quarter, just below the anticipated 10% growth. LVMH also reported sales growth in perfumes, cosmetics, watches, and jewelry, with only the wines and spirits unit experiencing a 4% decline for the full year.
During the annual general meeting, the 74-year-old Arnault announced that his sons, Alexandre (31) and Frederic (29), would be proposed to shareholders for inclusion on the board.
