The luxury titan is now worth an estimated $199.9 billion, beating out Amazon's Jeff Bezos for the top spot, according to Forbes.
BACK ON TOP: Luxury titan Bernard Arnault is again the world’s richest man, according to Forbes. The chairman and chief executive officer of LVMH Moët Hennessy Louis Vuitton bumped Jeff Bezos from the top slot with a net worth of $199.9 billion, topping the Amazon founder and chairman’s $194.9 billion. Tesla founder Elon Musk was in third with a net worth of $185.5 billion.
While Bezos has been busy blasting himself into space via his Blue Origin rocket, Amazon’s shares haven’t been quite as lofty of late, slumping on Friday to $3,344.94 after hitting a one-month high on July 12 of $3,761. LVMH’s shares, meanwhile, have gone in the other direction, and on Friday rose slightly to close at 698.2 euros.
And while Arnault might not be donning a jumpsuit, cowboy boots and a cowboy hat to go into space, he does have a new blue bauble he can call his very own: iconic jeweler Tiffany, which LVMH acquired last year for $15.8 billion and is in the process of buffing up. Clearly the stock market prefers diamonds to star dust.
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