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Forbes: Elon Musk no longer the world’s richest person

LVMH head Bernard Arnault takes lead with $211 billion net worth

FILE - Elon Musk departs the Phillip Burton Federal Building and United States Court House in San Francisco on Jan. 24, 2023. On Wednesday, Feb. 1, Sam Teller, Musk's former chief of staff, testified that the billionaire believed he had a handshake deal" to take Tesla private in 2018 shortly before he tweeted he had the financing for an aborted buyout that is still haunting him in a high-profile trial. (AP Photo/ Benjamin Fanjoy, File) (Benjamin Fanjoy, 2023 Associated Press All Right Reserved)

Billionaire entrepreneur Elon Musk, who cofounded six companies, including Tesla, SpaceX and tunneling startup Boring Company, is no longer the world’s richest person, according to Forbes.

Forbes’ real-time billionaires list now lists the head of LVMH Bernard Arnault, of France, as the world’s richest person, with a net worth of $211 billion.

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Arnault is the Chairman and CEO of the LVMH empire, which owns about 70 luxury fashion houses and cosmetic brands, including Louis Vuitton and Sephora.

FILE - In this Jan. 28, 2020 file photo, CEO of LVMH Bernard Arnault presents the group's 2019 results during a press conference, in Paris. (AP Photo/Thibault Camus, File) (Copyright 2020 The Associated Press. All rights reserved)

The company also acquired American luxury jeweler Tiffany & Co in January 2021 for a whopping $15.8 billion.

According to Forbes, Arnault got his start with help from his father who “made a small fortune in construction.”

Arnault used $15 million from that business to buy Christian Dior in 1985.

Four of his five children now work for his empire.

Although Musk fell from the top spot, he comes in second place with a net worth of $188.6 billion.

Among his business dealings, he purchased Twitter in April 2022 for $44 billion.

FILE - Then Amazon CEO Jeff Bezos speaks at the the Amazon re:MARS convention on June 6, 2019, in Las Vegas. (AP Photo/John Locher, File) (Copyright 2019 The Associated Press. All rights reserved.)

Amazon founder and Chairman Jeff Bezos comes in third place with a net worth of $120.8 billion.

In addition to founding Amazon in 1994, Bezos also founded aerospace company Blue Origin in 2000 and purchased The Washington Post in 2013.


About the Author
Amanda Batchelor headshot

Amanda Batchelor is the Digital Executive Producer for Local10.com.

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