LVMH

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

A member of the Hermes clan called him "a wolf in cashmere" for the predatory ways he attempted to take over their company. 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 US, 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.

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%).

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.