Musk Drops to 2nd Place in Billionaire Rankings... Louis Vuitton Chairman Ranks 1st

[Image source=Reuters Yonhap News]

Bernard Arnault, chairman of the French luxury group Louis Vuitton Mo?t Hennessy (LVMH), has surpassed Elon Musk, CEO of Tesla, to become the world's richest person.

On the 26th (local time), the American business magazine Forbes reported that Arnault and his family's net worth reached $207.8 billion (278.0364 trillion KRW), surpassing Musk's $204.5 billion (273.621 trillion KRW).

This shift occurred as Tesla's stock price plunged 13% the previous day due to poor earnings, reducing Musk's net worth by $18 billion (24.084 trillion KRW), while the next day LVMH's stock surged on strong earnings, increasing Arnault's net worth by $23.6 billion (31.5768 trillion KRW).

Following Musk, the world's richest individuals ranked 3rd to 5th were Jeff Bezos, founder of the world's largest e-commerce company Amazon; Larry Ellison, founder of Oracle; and Mark Zuckerberg, founder and CEO of Meta Platforms, the parent company of Facebook.

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