Elon Musk, 51, has seen his fortune tumble by more than $100 billion since January to $168.5 billion, according to the Bloomberg Billionaires Index. As of 10:20 a.m. in New York, that’s less than the $172.9 billion net worth of Arnault, 73, whose wealth largely derives from his 48% ownership of fashion giant LVMH.
Musk’s fall from atop the rankings – the first time that’s happened since he was No. 2 in September 2021 – caps a tumultuous year for the frenetic billionaire. He shocked the world in April with his offer to take Twitter private for $44 billion, in a brazen display of how the wealthiest individuals could wield their massive fortunes.
Arnault is the new richest person in the world
Arnault, the new richest person in the world, is drama-free in comparison to Musk. Arnault has long been a mainstay near the top of the wealth rankings, but his fortune never grew at the exponential pace of US tech billionaires. Now his empire is holding up while Mark Zuckerberg, Jeff Bezos and Alphabet Inc.’s Larry Page and Sergey Brin see their wealth hammered by rising interest rates.
Arnault has long been a mainstay near the top of the wealth rankings, but his fortune never grew at the exponential pace of US tech billionaires. Now his empire is holding up while Mark Zuckerberg, Jeff Bezos and Alphabet Inc.’s Larry Page and Sergey Brin see their wealth hammered by rising interest rates.