Bernard Arnault has regained his title as the world’s richest man.
Takeaway Points
- Bernard Arnault has regained his title as the world’s richest man, according to Forbes Real-Time Billionaires List.
- He was followed by Jeff Bezos, Elon Musk, Mark Zuckerberg, and others.
The World’s Richest Man
The CEO of LVMH, Bernard Arnault ,has regained his title as the richest man in the world on Friday, according to the Forbes Real-Time Billionaires List.
Arnault lost this title in a short term to Jeff Bezos after experiencing a $3 billion decrease in his net worth on Thursday, dropping from $202 billion to $199 billion. Within 24 hours, he quickly regained his status as the richest man in the world by gaining $460 million in less than 24 hours.
According to the Forbes list, he was closely followed by Jeff Bezos, Elon Musk, Mark Zuckerberg, and others. As of the time of writing this, Arnault’s net worth is $226.6 billion.
Who is Bernard Arnault?
Bernard Arnault is the founder of the world’s largest luxury goods company, Moet Hennessy Louis Vuitton SE. Written as LVMH. He was born on March 5, 1949, and is known as a businessman, investor, and art collector.
Arnault graduated from the École Polytechnique in 1971, one of the leading engineering schools in France. After he graduated, he started working for his father’s company, and three years later, he convinced his father to change the focus of his company to real estate.
LVMH was formed in 1987 through the unification of fashion house Louis Vuitton and Moet Hennessy. In 2023, LVMH was ranked 47th in the Forbes Global 2000, and in April, 2023, the company became the first European company to exceed a $500 billion valuation.
LVMH controls around 60 branches that manage 75 luxury brands. It was grouped and managed under six branches: Fashion Group, Wines and Spirits, Perfumes and Cosmetics, Watches and Jewelry, Selective Distribution, and Other Activities
The Top 10 World’s Real-Time Billionaires
The top 10 world’s richest people, according to the Forbes World’s Real-Time Billionaires list are, Bernard Arnault, Jeff Bezos, Elon Musk, Mark Zuckerberg, Larry Ellison, Warren Buffett, Bill Gates, Steve Ballmer, Larry Page, and Sergey Brin.
Forbes Real-Time Billionaires List
Forbes’ Real-Time Billionaires is a wealth-tracking platform that provides the ongoing updates about the net worth and ranking of each person confirmed by them as a billionaire.
According to Forbes, the value of individuals’ public holdings are updated every 5 minutes when respective stock markets are open (there will be a 15-minute delay for stock prices). Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day. In cases where an individual owns a stake in a private company that accounts for 20% or more of his or her net worth, the value of the company will be adjusted according to an industry- or region-specific market index provided by our partners at FactSet Research Systems when available. A rotating cast of the five biggest winners and losers throughout the day is featured at the top of the page, followed by the complete list of billionaires ranked in order of net worth.
