Arnault overtakes Musk as the world's richest person

Bernard Arnault, the founder, chairman and CEO of global luxury goods brand LVMH (Louis Vitton) has overtaken Tesla boss Elon Musk as the wealthiest person in the world, according to Forbes.

As per the magazine, the Arnault family's net worth soared to $207.8 billion on Friday, rising by $23.6 billion. Musk's fortune, on the other hand, stood at $204.5 billion, dropping by more than $18 billion.

On Sunday, the French tycoon and his family's wealth was at $207.6 billion, with Musk at $204.7 billion, the Forbes Real Time Billionaire List showed. Jeff Bezos, Larry Ellison, and Mark Zuckerberg rounded off the top five.

The Bloomberg Billionaires Index, on the other hand, shows that Musk, who owns companies such as Tesla, SpaceX, and X (formerly Twitter), is still the richest person in the world, with a $199 billion wealth, followed by Jeff Bezos ($184 billion) and Arnault ($183 billion).

Reliance Industries Limited (RIL) chairman Mukesh Ambani, the richest individual outside of the top 10, is also the wealthiest Asian, with his net worth coming at $104.4 billion. Adani Group chairman Gautam Adani, ranked 16, is the second-richest Asian, with a $75.7 billion fortune.