Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH, has replaced Elon Musk has as the richest man in the world.
Forbes revealed this on Wednesday after the Twitter and Tesla owner experienced a sharp drop in the value of his stake due to the recent purchase of Twitter to the tune of $44 billion.
Musk sold stocks in his electric-car company in order to fund the acquisition of the social media company.
Despite Musk’s net worth dropping below $200 billion earlier on November 8, he still remains number two on Forbes’ billionaire list with a personal value worth of $185.4 billion.
Arnault’s wealth is worth $185.8. The 73-year-old French man is a business magnate whose headquarters is based in Paris, France.
- Naira notes: CBN approves Feb. 10 as new deadline
- Buhari tackling problems others ran from– Tinubu
- Solanke-Koya urges Aviation Minister to reject payment of airfare in foreign currency
- Gusau expresses interest to run for Certified Athletic Administrator Presidency
- Lassa fever death rate raises to 13 in Edo
- APC reveals what will happen as Osinbajo absent at Tinubu’s campaign in Lagos
- Peter Obi takes campaign to Borno, promises to end insecurity
- Distribution of 2.83m mosquito nets begin in Ebonyi
- 2023: Groups target 1million votes for Tinubu in Osun
- Gov. Sanwo-Olu purchases 100 cars for Lagos civil servants