Bernard Arnault oversees the LVMH fashion empire, which includes brands like Louis Vuitton and Tiffany & CO.
He reaches a fortune of 186.2 billion dollars, 5 billion more than Elon Musk .
Elon Musk has lost the title of the richest man in the world and has given the position to Bernard Arnault, the CEO of the luxurious LVMH.
According to Forbes , a fall in the price of Tesla shares, whose value closed down 6.27%, caused this change in the top.
change at the top
Bernard Arnault is the supervisor of the LVMH empire, which owns more than 70 fashion brands, including the famous Louis Vuitton, Sephora or Tiffany & Co.
Currently, his assets are valued at 186.200 million dollars. By comparison, Elon Musk is worth $181.3 billion.
The tech mogul had become the world’s richest man in September, when he surpassed Jeff Bezos. However, the constant fall in Tesla’s shares causes him to momentarily leave first place to give way to the French.
Arnault, a man of fashion
Bernard Arnault was born in northern France in 1949. His father was an industrialist who owned a public works company called Ferret-Savinel.
Upon completing his studies, he convinced his father to change his company’s orientation towards real estate development, which he would later command in 1978.
After moving from France to the United States in 1981, he was influenced by the debacle of the textile industry and the stock market crash, investing part of his fortune in the Boussac group, owner of Christian Dior.
From there, it would go on acquiring more and more companies related to fashion and beauty.