Elon Musk Overtaken By Arnault As World’s Richest Man

According to Forbes’ recent List of 25 Richest Men in the World, Elon Musk and Jeff Bezos have lost their titles as richest and second richest men in the world, respectively.

Musk, who topped the list last year, now ranks second after his pricey purchase of microblogging site, Twitter.

French magnate, Bernard Arnault, has officially surpassed Tesla CEO, Elon Musk, to take the title of world’s richest billionaire.

According to Forbes’ calculations, the 74-year-old engineer tops the 2023 billionaires list with a $211-billion fortune, surpassing Elon Musk, who is worth $39 billion less than a year ago.

Jeff Bezos who was second on the list has dropped to third place. Bill gates and Mark Zuckerberg made the list at 6th and 16th spot respectively.

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Arnault, the world’s richest man has successfully his company, LVMH into the world’s largest luxury goods company, with more than 70 brands and loyal customers around the globe. Bolstered by pricey acquisitions, revenues have grown from $4 billion in 1989 to $86 billion last year. LVMH’s stock soared 35% over the past year.