Elon Musk Loses World’s Richest Man Title to Bernard Arnault on Forbes

Elon Musk Loses World’s Richest Man Title to Bernard Arnault on Forbes

  • Bernard Arnault, the French billionaire, has overtaken Elon Musk as the world's richest man
  • Arnault gained over $20 billion on Friday, January 26, 2024, to topple Musk, who is now worth $204 billion on Forbes
  • Nigeria's Aliko Dangote has earned over $6 billion in January to bring his net worth to $22 billion

French billionaire and chairman and chief executive officer (CEO) of Louis Vuitton, Bernard Arnault, has overthrown Tesla CEO Elon Musk as the world's richest man.

Data from Forbes' Real-Time Billionaires list shows that Arnault and his family's net worth grew to $207 billion after an increase of $23.6 billion on Friday, January 26, 2023.

Elon Musk, Bernard Arnault, Billionaire ranking
French billionaires, Bernard Arnault and Elon Musk Credit: NurPhoto / Contributor
Source: UGC

Arnault earns $23 billion in one day

Elon Musk is now worth $204 billion at the time of this report.

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The development follows the rise in the shares of LVMH at the close of business on Friday, January 26, 2024, by over 12% following strong sales by the company.

74-year-old Anault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.

The French billionaire acquired the luxury brand for $16 billion in 2021, which was then believed to be the most significant purchase ever.

Anault nominated two of his children to the company's board.

Musk retains world's richest man title on Bloomberg as Dangote shines

However, Elon Musk retains the richest man title on the Bloomberg Billionaire Index, followed by Amazon founder Jeff Bezos.

According to the data, the Tesla CEO has lost over $30 billion since 2024 to narrow the gap between him and Bezos.

On the other hand, Aliko Dangote, Nigeria's and Africa's richest man has gained over $6 billion to bring his net worth to $22 billion.

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Dangote has recouped most of his losses as Nigeria embarked on Forex reforms since June last year.

At the beginning of January 2024, Dangote's net worth was estimated at $15 billion.

He briefly lost the title of Africa's richest man to South Africa's Johann Rupert.

Ibrahim Mahama shops from boutique selling GH¢14,000 slippers

YEN.com.gh reported that Ibrahim Mahama got a new pair of shoes from Savile Row, one of Ghana's most expensive fashion houses.

The Engineers and Planners founder was spotted enjoying himself while looking at high-priced shoes with the owner.

Nana Sarfo and Ibrahim Mahama are East Legon Executive Fitness Club members.

Source: Legit.ng

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Berlinda Entsie (Copy Editor) Berlinda Entsie is a Copy Editor at YEN.com.gh. She has worked as a proofreader and editor since 2016. Berlinda has over 5 years' experience editing and writing for leading publications in Ghana. She previously worked with Graphic Communications Group LTD, Business Insider SSA and Pulse.com.gh. She obtained a B.A in English Studies from the Methodist University College in 2016 and a Diploma in Broadcast Journalism from the GH Media School in 2019. Reach out to her via berlinda.entsie@yen.com.gh

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Augustine Fenuku Augustine Fenuku has over 5 years of experience in SMM and journalism and serves as the Entertainment Assistant at YEN. His academic qualifications include a Bachelor of Arts in Political Science from the University of Ghana, Legon. Augustine Fenuku has contributed his expertise to many brands. Email: augustine.fenuku@yen.com.gh