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SpaceX and Tesla owner Elon Musk has once again become the world’s richest businessman. He has reached the number one position, leaving behind French billionaire and Louis Vuitton Moët Hennessy (LVMH) CEO Bernard Arnault and Amazon founder Jeff Bezos.
Musk’s net worth has increased due to artificial intelligence startup x.AI, which has raised $6 billion (Rs 50 thousand crore) at a pre-money valuation of $18 billion (Rs 1.50 crore). Elon Musk created this AI company on March 9, 2023.
Bernard Arnault moved from first to third position
According to Forbes’ Real Time Billionaires List, Elon Musk’s net worth is $209.7 billion (about Rs 17.48 lakh crore), while Bernard Arnault’s net worth is now $200.7 billion (about Rs 16.61 lakh crore). Arnault, who was at number one for 4 months, has now come to number three. Whereas, Jeff Bezos is at second place with a net worth of about Rs 16.73 lakh crore.
No billionaire from India is in the top ten
No billionaire from India is included in the top ten in this list. Reliance Industries Chairman Mukesh Ambani is at 11th place with a net worth of $ 113.5 billion (about Rs 9.46 lakh crore). Whereas Gautam Adani is at number 18 in the list. His net worth is 86.3 billion dollars (Rs 7.19 lakh crore).
LVMH shares fell more than 6% in a month
The stock of Musk’s company Tesla has seen a decline of more than 28% so far this year. It was at $248.42 on January 1, which has now come down to $177.03 (May 29). But, Musk benefited from the sudden fall in the shares of Bernard’s company LVMH. LVMH shares have seen a decline of more than 6% this month.
Who is Bernard Arnault?
Bernard Arnault is considered the godfather of the modern luxury fashion industry. He is the founder, chairman and largest shareholder of Louis Vuitton Moët Hennessy, the world’s largest fashion group. Bernard’s group is almost four times bigger than its nearest competitor Kering in terms of market cap. LVMH has 75 luxury brands from 60 subsidiaries.
