Bernard Arnault

According to Forbes' real-time billionaires list, the 51-year-old's net worth decreased by $4.5bn (-2.9%) in comparison to Arnault, who oversees some 70 ...

Trying to interject the hostile reaction, Musk spent most of the five-minute appearance awkwardly standing still or pacing around on stage. [three council members announced they were resigning](https://news.sky.com/story/elon-musks-twitter-dissolves-trust-and-safety-council-just-days-after-its-members-speak-out-12767148) in a public statement posted on Twitter that said "contrary to claims by Elon Musk, the safety and wellbeing of Twitter's users are on the decline". A year prior, the same happened to Musk. [dissolved its Trust and Safety Council](https://news.sky.com/story/elon-musks-twitter-dissolves-trust-and-safety-council-just-days-after-its-members-speak-out-12767148), which was formed in 2016 to address hate speech, child exploitation, suicide, self-harm and other problems on the platform. [Click to subscribe to the Sky News Daily wherever you get your podcasts](https://podfollow.com/skynewsdaily) [Today, the account has been suspended](https://news.sky.com/story/twitter-account-which-tracked-elon-musks-private-jet-is-suspended-12768020). [greeted with "a lot of boos"](https://news.sky.com/story/elon-musk-admits-a-lot-of-boos-greeted-his-cameo-at-dave-chappelle-gig-12766825) during an awkward on-stage appearance at a Dave Chappelle comedy show in San Francisco. [Tesla](https://news.sky.com/topic/tesla-6868), but stocks closed down 6.87% for the day today. [track the billionaire's aircraft, revealing the amount of pollution they cause](https://news.sky.com/story/worlds-second-richest-man-bernard-arnault-sells-private-jet-so-climate-activists-cant-track-him-12724462). Forbes said that the businessman's wealth peaked in November 2021 when he was worth $320bn (£258bn). The SpaceX and Tesla chief described the tracker, which uses publicly available air-traffic information, as a potential threat to his safety - and offered the teenager behind the social media page $5k (£4k) to shut down the @ElonJet account, which was rejected. According to Forbes' real-time billionaires list, the 51-year-old's net worth decreased by $4.5bn (-2.9%) in comparison to Arnault, who oversees some 70 fashion and cosmetic brands, whose rose by $849m (0.46%).

Bernard Arnault, the French tycoon behind luxury-goods powerhouse LVMH, surpassed Twitter owner Elon Musk on the Bloomberg Billionaires Index on Tuesday, ...

In his quest to stay under the radar, Arnault said in October that LVMH sold its private jet. He returned to France and made his foray into luxury goods in 1984, when he took over Boussac Saint-Freres, the bankrupt textile group that owned a gem: Christian Dior. He went on to work at the family business, Ferret Savinel, which focused on industrial construction, before moving in 1981 to the U.S., where he ventured into property development. Paris-based LVMH generated €64 billion ($68 billion) in sales last year, a sharp rebound from the depths of the pandemic in 2020. Never before has anyone from France—or Europe as a whole—laid claim to having the largest fortune on the planet. While weakening markets have also taken a bite out of Arnault’s wealth this year—his fortune is down about $7.2 billion in 2022—he’s fared better than the tech billionaires who dominate the world’s rich list.

Musk lost his position as the world's richest man after Tesla shares fell by 4 per cent. He lost around $7.4 billion (roughly around Rs 700 crore) worth of ...

According to both Forbes and Bloomberg, Musk lost his position as the world’s richest man after Tesla shares fell by 4 per cent. Twitter has lurched from one controversy to the next since Musk took control in late October. Follow us on [also read] [World](https://www.firstpost.com/category/world) [As Musk creates 'office bedrooms', Japanese Flamingo boxes come into the limelight: What are they?](https://www.firstpost.com/world/as-musk-creates-office-bedrooms-japanese-flamingo-boxes-come-into-the-limelight-what-are-they-11794191.html) Tesla CEO Musk has witnessed a sharp spike in his overall worth between 2020 and 2022. Musk lost his position as the world's richest man after Tesla shares fell by 4 per cent. Now his empire is holding up while Mark Zuckerberg, Jeff Bezos and Alphabet Inc.’s Larry Page and Sergey Brin see their wealth hammered by rising interest rates. New Delhi: Elon Musk, the newly appointed Twitter CEO, is no longer the world’s richest person after. They are – Tesla, SpaceX, Boring Company, Twitter, Neuralink, and others. He lost around $7.4 billion (roughly around Rs 700 crore) worth of Tesla shares. For the unversed, Musk’s net worth is made up of his stock and ownership of six companies that he co-founded. He lost around $7.4 billion (roughly around Rs 700 crore) worth of Tesla shares Musk’s net worth is currently seeing a fall of $4.5 billion dollars while Bernard Arnault & family saw a gain of $2.7 billion in the last 2 days.

The tech billionaire, whose wealth skyrocketed after 2020, lost his throne to Bernard Arnault and family of the Moët Hennessy Louis Vuitton (LVMH) fame in ...

The main reason for the decline in Musk’s net worth is the fall in Tesla’s share price. According to Forbes, his wealth came down by $4.5 billion in the intra-day trading on Tuesday, a slide of 2.49 per cent. But this time, the difference is a little more discernible.

Arnault becomes the fifth person to rank number one on Bloomberg's wealth index since it debuted in 2012 after Elon Musk, Jeff Bezos, Bill Gates and Carlos ...

After that, he worked for the family business, Ferret Savinel, which specialised in industrial building, until relocating to the US in 1981 and starting a career in real estate development. [According to Forbes](https://www.forbes.com/real-time-billionaires/#3d81a6ea3d78), Musk is now worth about $176 billion (£142 billion), meanwhile, Arnault has a value of $187 billion (£152 billion). He then bought a controlling interest in LVMH, whose two principal businesses, [$44 billion takeover of social network Twitter](https://www.standard.co.uk/news/world/elon-musk-buys-twitter-deal-social-media-tesla-tech-b996213.html) in October and Musk had to sell billions of dollars worth of Tesla shares to help fund his purchase, which helped to [push the shares down](https://www.forbes.com/sites/mattdurot/2022/12/13/teslas-market-cap-dips-below-500-billion-tuesday-widening-gap-between-musk-and-worlds-no-1-richest-to-12-billion/?sh=706fde315dd6). [Louis Vuitton ](https://www.standard.co.uk/topic/louis-vuitton)and Moet Hennessy had amalgamated in 1987, after spinning off the majority of the company's other operations. [Bernard Arnault](https://www.standard.co.uk/topic/bernard-arnault) has overtaken [Elon Musk as the world’s richest man](https://www.standard.co.uk/topic/elon-musk), according to Forbes and Bloomberg.

Elon Musk has lost his spot as the world's richest person for the second time in a week, with Louis Vuitton Moet Hennessy (EPA:MC) part-owner...

[resilience of the luxury goods market](https://www.proactiveinvestors.co.uk/companies/news/1000812/louis-vuitton-chief-knocks-elon-musk-albeit-briefly-off-top-of-forbes-rich-list-1000812.html) in the face of the current global economic downturn. [activist shareholder Tulipshare](https://www.proactiveinvestors.co.uk/companies/news/999995/nothing-says-christmas-like-the-gift-of-esg-999995.html). [Twitter madness](https://www.proactiveinvestors.co.uk/companies/news/997886/tesla-s-musk-told-to-end-twitter-madness-by-wedbush-analysts-997886.html),” suggesting he was abandoning Tesla at a crucial time. [Twitter Inc (NYSE:TWTR)](https://www.proactiveinvestors.co.uk/NYSE:TWTR/Twitter-Inc/) for US$44bn in October, new chief executive Musk has been battling to turn the social media into a profit-making business. [Louis Vuitton Moet Hennessy (EPA:MC)](https://www.proactiveinvestors.co.uk/EPA:MC/Louis-Vuitton-Moet-Hennessy/) part-owner Bernard Arnault reclaiming the title.

Bernard Arnault, the chairman of French luxury goods giant LVMH, has just become the first European to top Bloomberg's list of the world's richest people, ...

He has been chairman and CEO of the company ever since. Arnault bought control of the group, returning it to profitability and embarking on a strategy to develop the world’s leading luxury goods company. Arnault has long held the title of Europe’s richest person, but the 73-year old keeps a much lower profile than Musk and isn’t personally active on any major social media platforms. Still, he is in no imminent danger of falling further down the list: His fortune remains comfortably bigger than that of Indian industrialist Gautam Adani ($125 billion) and Amazon [(AMZN)](https://money.cnn.com/quote/quote.html?symb=AMZN&source=story_quote_link) founder Jeff Bezos ($116 billion), who rank third and fourth on Bloomberg’s list. Arnault had already ousted Musk from the top spot on Forbes’ list of [“Real Time Billionaires”](https://www.forbes.com/consent/?toURL=https://www.forbes.com/real-time-billionaires/#22b1dd5c3d78) last week. LVMH has a market value of €362.4 billion ($386 billion). Six years later, he got wind that the French government was looking for a new investor to take over Boussac Saint-Freres. He began his career in the family-owned construction company, Ferret-Savinel, becoming chairman in 1978 after successive promotions. “In the process, he reinvigorated Christian Dior as the cornerstone of the new organization,” according to a biography on the LVMH website. Musk’s purchase of Twitter The luxury market has remained relatively steady this year, even as surging inflation has led less-affluent shoppers to change their spending habits. [Bernard Arnault](https://edition.cnn.com/2021/02/15/investing/arnault-mustier-spac-tikehau-capital/index.html), the chairman of French luxury goods giant LVMH [(LVMHF)](https://money.cnn.com/quote/quote.html?symb=LVMHF&source=story_quote_link), has just become the first European to top Bloomberg’s list of the world’s richest people, relegating [Elon Musk](https://edition.cnn.com/2022/12/07/business/elon-musk-wealth/index.html#:~:text=Despite%20the%20losses%2C%20Musk%20is,net%20worth%20of%20%24171%20billion.) to second place.

Arnault's net worth, according to Forbes, is $190.7 billion, placing him above Elon Musk, Jeff Bezos and Bill Gates.

Luxury fashion resisted the economic downturn felt during the pandemic, with LVMH having reported a revenue of $17 billion in Q1 2021 – an increase of 32 percent year over year. Furthermore, LVMH recently recorded revenue of $19.5 billion Arnault’s rise to the top is due in large part to the stellar performance of LVMH during the pandemic.

Luxury goods mogul Bernard Arnault is now the richest man in the world, bumping Tesla CEO Elon Musk down to the second spot, according to the Bloomberg ...

The majority owner of the LVMH company, Bernard Arnault, just replaced Elon Musk as the richest man in the world. Learn about his family, net worth and ...

[Use This Powerful Thought Technique](/article/439519)and Watch Your Team Succeed [I Lacked This One Critical Skill](/article/435587)That Nearly Cost Me My Career and My Life [a Product That Will Change the Way You Decorate Your Christmas Tree](/article/440705). Who Is Bernard Arnault? Since the purchase, Arnault has sat as the company's chairman and CEO and is still very much a part of the business today. He shares his two eldest kids, Delphine and Antoine, with his ex, Anne Dewavrin.

The French tycoon behind luxury-goods powerhouse LVMH surpassed Twitter owner Elon Musk in wealth this week. He doesn't tweet.

A member of the Hermes clan called him “a wolf in cashmere” for the predatory ways he attempted to take over their company. Arnault and his family own about 48 per cent of the shares in the company, with 64 per cent of the voting rights, according to its annual report. In his quest to stay under the radar, Arnault said in October that LVMH sold its private jet. He returned to France and made his foray into luxury goods in 1984, when he took over Boussac Saint-Freres, the bankrupt textile group that owned a gem: Christian Dior. The venue is a monumental private art museum designed by Frank Gehry, meant to house LVMH’s corporate collection as well as Arnault’s. “With all these stories, the group had a plane and we sold it,” Arnault said on Radio Classique, which is owned by LVMH. He went on to work at the family business, Ferret Savinel, which focused on industrial construction, before moving in 1981 to the US, where he ventured into property development. Paris-based LVMH generated €64 billion ($97 billion) in sales last year, a sharp rebound from the depths of the pandemic in 2020. While weakening markets have also taken a bite out of Arnault’s wealth this year — his fortune is down about $US7 billion in 2022 — he’s fared better than the tech billionaires who dominate the world’s rich list. It’s a training ground for ambitious designers seeking to make a name for themselves: Marc Jacobs and the late Virgil Abloh at Louis Vuitton, Raf Simons at Christian Dior, Phoebe Philo at Celine. Before him, no one from France — or Europe as a whole — had laid claim to having the largest fortune on the planet. Though LVMH Moet Hennessy Louis Vuitton oozes extravagance, with 75 labels ranging from Dom Perignon to Christian Dior to Tiffany, he’s sought a low profile in a country where bling-bling displays of wealth are frowned upon.

The luxury goods magnate has taken the net worth top spot from Elon Musk. But did you know he's put some serious cash into tech businesses?

The fund was set to be between €100m and €110m in size. Nearly all of Aglaé’s European portfolio is French, though it says on its website that it invests globally in Series B to pre-IPO companies. According to its LinkedIn, the firm is particularly interested in marketplaces, SaaS, content platforms and digital native brands. The world’s got a new richest man. LVMH owns 75 labels, everything from Bulgari to Givenchy. [Venture Capital/](https://sifted.eu/sector/venture-capital/) [Analysis/](https://sifted.eu/categories/analysis/) [Bernard Arnault: Meet the startups backed by the world’s new richest man](https://sifted.eu/articles/bernard-arnault-startups-aglae-news/)

Bernard Arnault, the chairman of French luxury goods giant LVMH, has just become the first European to top Bloomberg's list of the world's richest people, ...