The chief executive officer of LVMH surpasses his counterpart at Tesla.
Bernard Arnault has replaced Elon Musk as the world’s richest person.
READ ALSO: Ratioed: Elon Musk’s Net Worth Drops Below $200B After Twitter Buy Worries Investors
This comes after Tesla shares dropped by one percent.
Musk’s net worth hit an estimated $185 billion (previously over $300 billion)—below Arnault’s $186.2 billion.
Effectively, the LVMH executive edged out his Tesla rival by just over $1 billion.
While LVMH has enjoyed relative success recently, Tesla has suffered over investor fears that Musk is preoccupied with Twitter.
Arnault has become the world’s richest person several times. Instances include December 2019, January 2020, and May and July 2021.
Banner Photo by Jérémy Barande via Wikimedia Commons.
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