Elon Musk Loses World’s Richest Title To Louis Vuitton Tycoon Bernard Arnault; Adani At Third Spot

Bernard Arnault, the septuagenarian French luxury goods tycoon, with a net value of $188.8 billion has piped Twitter and Tesla boss Elon Musk to grow to be the world’s richest. Musk’s current net value is $176.8 billion which is a big drop from his previous $219 billion. The previous primary billionaire’s net value is usually made up of his stocks in Tesla and SpaceX. Tesla being the most precious company in his folio, has been bearing the brunt of Musk’s whims and fancy. This was inevitable for Twitter’s latest landlord. After bleeding in billions through the last quarter of 2022, Elon Musk scrambled to purchase the bird app for $44 billion risking his Tesla shares. His gamble hasn’t paid off within the short run. Gotta wait and watch how things pan out for Musk in the long term. Although he had offloaded a bit of his Tesla stocks, Musk still owns $445.6 million in Tesla shares, which is about 25% of Tesla stocks.

Meanwhile Bernard Arnault, once dubbed the ‘Wolf of Cashmere’ is making strides together with his LVMH empire. The LVMH brags of world’s most premium brands like Louis Vuitton, Sephora amongst others. In January 2021, LVMH made its most ambitious acquisition ever, when it bought American jeweler Tiffany & Co for $15.8 billion. This can be believed to be the most important luxury brand acquisition ever. The 4 of 5 children of the 74 yr old billionaire work for the LVMH empire. Bernard’s net value in 2020 was a mere $76 billion that saw significant rise in 2021 with a net value of $150 billion.

Meanwhile Indian business tycoon Gautam Adani (60) is comfortably seated at number three on this planet’s richest list with a net value of $134.5 billion. Adani’s wealth made strides in 2022, skyrocketing from a mere $50 billion in 2021 to breaching the $100 billion club this yr. Will he pip each Musk and Arnault to grow to be the richest ever? Probably yes with the chai wala’s blessings.

Here’s a snapshot of each Forbes and Bloomberg’s billionaire index with the highest 5 richest on your perusal.

Image: Bloomberg’s Billionaire Index
Image: Forbes Real Time Billionaire’s Index

See Also: Elon Musk Turns Twitter Office Rooms Into Bedrooms As Employees Work Time beyond regulation

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