According to Forbes, Elon Musk is no longer the richest person in the world.
French fashion designer Bernard Arnault has gotten ahead of the Tesla CEO.
Elon Musk Isn’t The Richest Anymore
French fashion designer Arnault’s fortune is at $185.4 billion, while Musk’s service is at $185.3 billion.
Indian coal magnate Gautam Island ranked third with a fortune of 134.8 billion dollars.
Amazon founder Jeff Bezos has a net worth of $115 billion. Warren Buffet, CEO of Berkshire Hathaway, one of the harshest critics of cryptocurrencies, has a personal fortune of $ 107 billion.
Musk’s personal wealth has been hit hard, with Tesla shares falling by 57%. TSLA lost 3.85% of its value during the day.
Arnault serves as CEO of LVMH, the world’s largest luxury goods company. The company controls leading brands such as Christian Dior, Sephora, Louis Vuitton, Tiffany & Co, Marc Jacobs, Stella McCartney, Loewe, Kenzo and others. In addition, the luxury watch company TAG Heuer is also under the control of LVMH.
Unlike Tesla products, luxury products continued to see strong demand in 2022.
Arnault first became the richest person in the world in May 2021. At the time, Bezos and Musk shared second and third places.
