// LVMH chair and CEO Bernard Arnault named world’s richest person
// Tesla and Twitter CEO Elon Musk is now the second richest person, according to Forbes
Louis Vuitton owner LVMH’s chairman and CEO Bernard Arnault has dethroned Elon Musk as the world’s richest person.
Tesla CEO Musk is no longer the richest, according to Forbes, which tracks the wealth of billionaires.
Arnault, who oversees luxury group LVMH, has seen his net worth increase by 0.46%, compared with Musk who saw his net worth decrease by 2.9%.
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Arnault’s net worth is listed as £151.1 billion on the Forbes list.
Forbes said that the businessman’s wealth peaked in November 2021 when he was worth £258 billion.
Arnault bought a controlling stake in LVMH in 1989, two years after the group was formed by the merger of Louis Vuitton and Moët Hennessy. He has remained chairman and CEO of the company ever since.
In January 2021, LVMH completed its $15.8 billion takeover of US jeweller Tiffany & Co.
