Bernard Arnault, the 74 year old French luxury goods tycoon, has surpassed Elon Musk to become the world’s richest person. With a net worth of $188.8 billion, Arnault has dethroned Musk who currently stands at $176.8 billion, a significant drop from his previous $219 billion. Musk’s net worth is mostly made up of his stocks in Tesla and SpaceX and his gamble to buy Twitter for $44 billion hasn’t paid off in the short run.
On the other hand, Bernard Arnault’s LVMH empire has been making strides in 2021, culminating with their most ambitious acquisition ever in January 2021 when they bought American jeweler Tiffany & Co for $15.8 billion. The LVMH brags of world’s most premium brands like Louis Vuitton, Sephora among others.
Meanwhile Indian business tycoon Gautam Adani (60) is comfortably seated at number three in the world’s richest list with a net worth 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 year.
Separately, Elon Musk has offloaded a chunk of his Tesla stocks, although he still owns $445.6 million in Tesla shares, which is about 25% of Tesla stocks. It remains to be seen how things pan out for Musk in the long run. On the other hand, Bernard Arnault is the only one of the top three billionaires who has children working for his business empire.
The Forbes and Bloomberg’s billionaire index lists the top 5 richest people in the world. With the current figures, it seems Bernard Arnault is set to remain the world’s richest person while Elon Musk slides further down the ladder. Gautam Adani is the only one in the top 5 who is steadily increasing his net worth, and with the chai wala’s blessings, he might even pip both Musk and Arnault to become the richest ever.
At the end of the day, it is the business acumen and strategic investments that have made these billionaires so successful. Their stories are a testament to the power of hard work and determination, and serve as an inspiration to all entrepreneurs.