The richest man Bernard Arnault surpassing Elon Musk
Bernard Arnault has taken Elon Musk’s place as the world’s wealthiest person after Tesla shares declined, with Musk no longer holding the top spot.Embed from Getty Images
Elon Musk is the largest shareholder and chief executive of Tesla, having recently purchased Twitter for $44 billion. According to Forbes, Musk’s wealth is $169 billion, compared to Bernard Arnault’s $188 billion.
Wedbush Securities, an investment company, has noted that Tesla’s shares have been adversely affected by Twitter’s deal, which was made possible by Elon Musk selling billions of Tesla’s shares. According to Wedbush, “Musk has gone from being a ‘superhero’ for Tesla’s stock to a ‘villain’ with each tweet he posts.”
You may be curious about Bernard Arnault, who has recently become the wealthiest person in the world, surpassing Elon Musk.
Who is Bernard Arnault?Embed from Getty Images
Bernard Arnault is a French billionaire and investor. He is the chairman and CEO of LVMH (Moët Hennessy Louis Vuitton), a luxury goods company that includes a number of well-known brands such as Dior, Fendi, and Hennessy. Arnault is widely regarded as one of the most successful businessmen in the world and is frequently listed as one of the wealthiest people in the world.
Bernard Arnault, born in 1949 to a family of industry in Roubaix, France, has had a successful professional career. He has been involved in the direction and restructuring of many businesses. In 1989, he became the majority shareholder of LVMH, and since then has served as the company’s Chairman and CEO, leading it to become one of the world’s top luxury goods manufacturers. Arnault, 73, has held this position for three decades.
LVMH, a business empire within the fashion and cosmetics industry, has acquired the renowned American jewelry company Tiffany & Co. for $15.8 billion in January 2021. This is the largest purchase of any luxury brand, with the conglomerate already owning popular brands such as Sephora and Louis Vuitton.
Arnault’s father may have had limited success in the construction industry, but this did not stop his son from launching a successful business career. Arnault purchased Christian Dior for $15 million, which served as the starting point of his enterprise. Today, four of Arnault’s children hold positions within LVMH subsidiaries. He told in an interviews that he visits 25 stores every Saturday, both of his own company and rival companies.
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