The billionaire index has drastically changed since the initial stage of the financial year 2022. Recently, Louis Vuitton CEO Bernard Arnault has gained the mark of becoming the World’s Richest Man replacing Elon Musk from the top.
Elon Musk got the title of the world’s richest man by the start of the year 2021. He managed to attain a net worth of $185 billion and replaced Amazon CEO Jeff Bezos to reach the first rank.
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Moreover, Elon’s net worth hiked even after that and managed to reach around $190 billion. His net worth got to its peak at $340 billion in November 2021. The most prominent value was added by the rise in Tesla’s share; which is an automobile industry owned by Elon Musk.
Currently, the net worth of Elon Musk (51) has shuttered down to $168.5 billion and Bernard Arnault (73) has covered the distance to the first position with the last reported net worth of $ 186 billion.
Points Leading Bernard Arnault to the Title of World’s Richest Man
– Elon Musk recently bought Twitter for a wholesome amount of $44 billion. Although it didn’t cause any loss to the billionaire this subtracted a huge sum out of Elon’s total worth.
– Tesla has decided to cut off 20% of production at its facility in Shanghai. The decision will come to action within a few days in December itself. After this Tesla’s production will drop by a massive grade and that would put affect the revenue of Elon Musk.
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According to Forbes, Bernard Arnault and his family have an estimated worth of $ 188.6 billion as of December 2022.
Bernard Arnault has built the brand through decades of hard work and giving rise to the production of Wine, Champagne, Wallets, Leather Goods, perfumes, and other products and selling them in more than 5500 stores all around the world.