The battle of the Titans is still on! Just hours after Bernard Arnault upstaged Elon Musk as the world’s richest man, the Tesla billionaire returns to the top with an offsetting figure. Bernard, The chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), and the Tesla CEO have battled it out on the wealth front since 2022, with Elon leading the ropes through most of it. However, the Neuralinks CEO took a nosedive over the weekend, losing more than $18 billion, and ultimately 10% of his net worth. The shift worked in Bernard’s favor, scaling the Arnault family up the ladder to a whopping $207.6 billion following a $23.6 billion increase.
Elon Musk Surpasses Bernard Arnault as the Richest Man in the World
With his net worth exceeding Elon Musk’s initial $204.7 billion, Bernard Arnault became the Richest Man in the World per Forbes. Hours after the rating, the X Corp chairman once again unseated LVMH founder with a surprising recovery figure of $5.5 billion. At $210 billion, Elon Musk ultimately stands as the world’s wealthiest man as at Tuesday, January 30, 2024 per Forbes. Bernard Arnault ranks closely behind, with a net worth of $208.5 billion.
The multi-billion dollar increase in Elon Musk’s networth to make him the richest man in the world stemmed from a plunge in Tesla’s share price. The tech mogul recorded a nearly 4.2% increase in Tesla’s share price on Monday in the tune of $190.93. This offered a much-needed boost in the company’s value and Elon’s overall networth.
Notably, Bernard Arnault’s rise above Elon Musk as the richest man followed the fall of Tesla’s shares to $180 last week following record low quarterly earnings. Concurrently, LVMH saw over 13% rise in the stock market on Friday.
Threading fast behind these two billionaires are business moguls like Jeff Bezos ($181.3 billion), Larry Ellison ($$142.2 billion), Mark Zuckerberg (139.1 billion), and Warren Buffet (127.2 billion).
