Bernard Arnault

2023 - 3 - 3

Post cover — Image courtesy of "Economic Times"

Bernard Arnault overthrew Tesla chief Elon Musk as world's richest (Economic Times)

The news comes just a day after Tesla Inc's shares fell about 7% on Thursday after Elon Musk's four-hour presentation failed to impress investors who were ...

[Warren Buffett](/panache/panache-people-101/warren-buffett/profileshow/79665589.cms)in the top 5 richest people. [Hindenburg-triggered Adani Stock Plunge: SC Names Panel to Review Investor Protection Norms](/epaper/delhicapital/2023/mar/03/et-front/sc-names-panel-to-review-investor-protection-norms/articleshow/98373900.cms) Musk however seems to be taking the news in stride when he made light of his somewhat chaotic finances. The fall in shares resulted in a drop of Musk's net worth by nearly $2 billion. [Musk](/topic/musk)briefly topped the global wealth list earlier this week, when his net worth reached an estimated $187.1 billion, according to the [Bloomberg Billionaires](/topic/bloomberg-billionaires)Index, which ranks the world's richest people on a daily basis. But in December, Arnault unseated Musk when Tesla's share price fell by 65% owing to a number of factors.

Elon Musk no longer world's richest person; loses spot to LVMH's ... (Business Today)

As per the Forbes Real-Time Billionaires List, Musk's current net worth stands at $186.9 billion whereas Arnault has a personal wealth of $211.2 billion.

With this, Musk had a net worth of $187 billion and overtook the LVMH founder. As per the Forbes Real-Time Billionaires List, Musk’s current net worth stands at $186.9 billion whereas Arnault has a personal wealth of $211.2 billion. Arnault has a net worth of $187 billion after a gain of $710 million.

musk: Who is Bernard Arnault, the man who overthrew Tesla chief ... (The Economic Times)

The news comes just a day after Tesla Inc's shares fell about 7% on Thursday after Elon Musk's four-hour presentation failed to impress investors who were ...

Who is Bernard Arnault, the man who became world's richest person ... (India TV)

Elon Musk loses his title as the world's richest person for the second time in a week. Bernard Arnault is a prominent French businessman and the Chairman ...

Arnault, who was born to an industrial family in Roubaix, France, started his professional career as an engineer and became the Chairman of Financière Agache holding company in 1978. His four children are also involved in the different companies that come under the group. Elon Musk, the CEO of Tesla and SpaceX, has lost his title as the world's richest person just two days after reclaiming it.

Musk again loses world's richest person title to Bernard Arnault as ... (Republic World)

Tesla CEO and billionaire Elon Musk slipped down to the number 2 spot all over again, making the LVMH CEO Bernard Arnault reclaim his throne.

The Wednesday presentation was a long review of the prior achievements of the electro-automotive company, where the company’s manufacturing leader Tom Zhu revealed that Tesla produced 4 million cars on Wednesday. The decline in the net worth of the billionaire came after Tesla shares plunged in the early trading due to the lukewarm investor reception to Musk’s “Master Plan 3” presentation. “I really wanted today to be not just about Tesla investors who own stock, but really anyone who is an investor in Earth,” Musk said at the Wednesday event.

Not a steady sail: Elon Musk falls to No. 2 position again, no longer ... (Financial Express)

Earlier last week, he retook the number one spot with the net worth at an estimated $187.1 billion. However, the shares of Tesla fell by more than 5 per ...

According to the Associated Press, Tesla has said that it will cut the cost of its next generation vehicles by using innovative manufacturing techniques and smaller factories. However, very recently, Musk [ laid off](https://www.financialexpress.com/industry/twitter-running-brakeless-on-layoffs-terminates-10-of-its-remaining-workforce-in-latest-round-of-job-cuts/2993712/) at least 200 of its workforce or about 10 percent of the roughly 2,000 employees. [workforce ](https://www.financialexpress.com/industry/elon-musk-at-it-again-latest-layoffs-at-twitter-hit-sales-team-employees/2991614/)at the social media company.

Elon Musk loses crown as world's richest person—just 48 hours after ... (Fortune)

LVMH founder Bernard Arnault is once again the wealthiest person on the planet.

[At the end of 2022](https://www.cnbc.com/2022/12/12/elon-musk-is-no-longer-the-richest-person-in-the-world.html), Arnault surpassed Musk to become the world’s richest person, as Tesla shares suffered a major selloff in the wake of Musk’s $44 billion purchase of Twitter. [raft of problems at Tesla](https://fortune.com/2022/12/21/tesla-layoffs-hiring-freeze-musk-twitter-ceo/), including [slowing sales](https://fortune.com/2023/01/13/tesla-slashes-prices-model-y-suv-20-percent-inflation-reduction-act-incentives-tax-credit-elon-musk/). [rose more than 4,000%](https://www.cnbc.com/2020/06/29/tesla-stock-up-4125percent-since-ipo-ten-years-ago.html) in the decade since their IPO. In late 2021, [Forbes](https://www.forbes.com/sites/elizahaverstock/2021/10/26/elon-musk-nearing-300-billion-fortune-is-the-richest-person-in-history/?sh=1a49f0771933) [ named him](https://www.forbes.com/sites/elizahaverstock/2021/10/26/elon-musk-nearing-300-billion-fortune-is-the-richest-person-in-history/?sh=1a49f0771933) the richest person in history with a fortune nearing $300 billion. He also owns more than 40% of existing shares in [SpaceX](https://fortune.com/company/spacex/), [according to CNBC](https://www.cnbc.com/2022/12/12/elon-musk-is-no-longer-the-richest-person-in-the-world.html), which was [reportedly](https://www.reuters.com/markets/deals/spacex-raise-750-million-137-billion-valuation-cnbc-2023-01-03/) given a private valuation of $137 billion last month. [Sign up here.](https://mynewsletters.fortune.com/trust-factor/) He had [briefly overtaken](https://www.theguardian.com/technology/2022/dec/14/elon-musk-loses-title-of-worlds-richest-person-to-bernard-arnault) Musk just a week earlier. [a €1.5 billion ($1.6 billion) share buyback](https://www.thetimes.co.uk/article/luxury-business-lvmh-fizzes-after-1-5bn-share-buyback-rndgs28vw) sent the company’s stock ticking upward and cemented its status as [Europe’s most valuable firm](https://www.brusselstimes.com/354068/lvmh-becomes-first-european-company-to-reach-e400-billion-market-cap). [ranking by Forbes](https://www.forbes.com/real-time-billionaires/#78d8abbf3d78) also estimates that Arnault’s wealth has overtaken Musk’s once more. [On Tuesday](https://fortune.com/2023/02/28/elon-musk-worlds-richest-person-again-tesla-shares-rally/), Fortune reported that Arnault—founder of luxury goods conglomerate LVMH—had been overtaken in the ranking by Musk, whose net worth was boosted as [Tesla](https://fortune.com/company/tesla/) shares enjoyed a major rally. Despite remaining one of the richest people on the planet, Musk’s wealth has fallen drastically on the back of his According to Bloomberg’s Billionaires Index, which tracks the real-time wealth of the world’s richest people, Musk lost more than $1.9 billion on Wednesday—causing him to slide into second place behind the LVMH boss.