On Thursday, Bernard Arnault surpassed Elon Musk as the world’s richest person, with an estimated net worth of $210.1 billion. This comes after shares in LVMH, the luxury conglomerate he leads as CEO, surged nearly 1.5% in morning trading in Europe. The rise in LVMH’s shares helped boost Arnault’s wealth by $7.7 billion, bringing his total fortune to $210.1 billion and placing him at the top of the global wealth rankings.
The surge in LVMH’s stock price reached a high of $830 (€763.50) on Thursday, contributing significantly to Arnault’s growing wealth. It marks a significant milestone for the French billionaire, who has now overtaken Musk as the world’s richest person.
As he continues to hold this position, it will be interesting to see how Arnault maintains his status as one of the world’s wealthiest individuals. With LVMH being one of the largest luxury brands globally and its continued success, it looks like Bernhardt is set to maintain his position at the top for some time.
Overall, this development highlights how business leaders can impact their personal net worth through their company’s performance and growth. It also shows that maintaining a strong and successful brand can lead to significant financial gains for its executives and shareholders alike.
