In a remarkable turn of events, Bernard Arnault, the chairman and CEO of luxury goods giant Louis Vuitton, has surpassed Tesla CEO Elon Musk to become the world’s wealthiest individual, according to Forbes’ Real-Time Billionaires list.
Arnault’s Net Worth Surges to $207 Billion
Arnault’s net worth skyrocketed to a staggering $207 billion on Friday, January 26, after a remarkable increase of $23.6 billion. This surge propelled him past Musk’s net worth of $204 billion.
Fuelled by LVMH’s Share Price Soar
The development follows a significant surge in LVMH’s share price, which soared by over 12% at the close of business on Friday. This surge was driven by robust sales reports from the luxury goods conglomerate, which Arnault, 74, oversees. LVMH boasts a portfolio of 75 fashion and cosmetics brands, including iconic names like Louis Vuitton and Sephora.
Elon Musk Retains Top Spot on Bloomberg Billionaire Index
Despite losing over $30 billion since 2024, Elon Musk remains atop the Bloomberg Billionaire Index, followed closely by Amazon founder Jeff Bezos. However, Arnault’s remarkable ascent has narrowed the gap between Musk and Bezos.
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Aliko Dangote’s Wealth Soars
Meanwhile, Africa’s richest person, Aliko Dangote, has seen a significant surge in his net worth, reaching $22 billion after a remarkable gain of over $6 billion. Dangote’s wealth experienced its fastest increase in years, with his net worth jumping by over $1 billion in a single day on January 23, driven by a bullish run in the share price of his company, Dangote Cement.
Continued Bullish Run
Data from the Bloomberg Billionaire Index shows that Dangote continued to amass wealth, earning over $1 billion on Tuesday, January 23, and $282 million the following day, thanks to the continued bullish run in Dangote Cement’s share price at the Nigeria Exchange Limited.
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