Elon Musk Dusted as Bernard Arnault’s Wealth Soars to $210 Billion
- French billionaire Bernard Arnault has seen his wealth jump to over $200 billion in one day, leaving Elon Musk struggling in the second position
- The feat by Arnault follows the strong sales showing by his luxury brand, LVMH, which posted about $12 billion in sales
- Meanwhile, Nigeria and Africa’s richest man, Aliko Dangote, earned about $538 million in one day
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The world’s wealthiest man, Bernard Arnault, is entrenching his lead over Elon Musk, who is ranked second.
According to Bloomberg, the French billionaire sells more luxury goods, while Tesla, owned by Elon Musk, is cutting prices on electric vehicles.
Source: Getty Images
Arnault breaks record with wealth jump
Bloomberg said that Arnault saw his wealth soar by $12 billion on Thursday, April 13, 2023, to $210 a record-breaking sales and the second-biggest single-day rise ever.
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Musk is currently worth $180 billion after gaining about $3.8 billion.
The jump in Arnault’s wealth came after investors hailed quarterly sales published by the maker of Louis Vuitton handbags, Moet & Champagne, and Christian Dior gowns.
The company’s shares rose 5.7% in Paris trading on Thursday, April 13, 2023, catapulting it into the world’s top 10 companies with a market cap of $491 billion.
The firm’s stock continued its upward climb on Friday, April 14, 2023, jumping to 0.7% after rival Home International published strong results.
Arnault joins Elon Musk and Jeff Bezos as persons whose wealth exceeded $200 billion
Arnault joined Elon Musk and Jeff Bezos earlier this month as the only persons whose wealth surpassed $200 billion, the first outside the US to accomplish the feat.
Elon Musk’s wealth peaked at $340 billion and has continued to drop.
His electric car company, Tesla, is cutting prices across the US to boost demand.
However, Africa’s richest man, Aliko Dangote, saw his wealth rise by $538 million in one day, bringing his total wealth to $20.8 billion.
Forbes unveils 10 wealthiest women in the world in 2023: 4 inherited wealth from their husbands
Legit.ng reported that the 2023 Forbes World Billionaires List for Women shows 10 female billionaires, with about four of them either getting their wealth from their husbands as divorce settlements, running businesses together, or outright inheriting upon the demise of their parents.
The list is led by Francoise Bettencourt Meyer, who has occupied the position for the third year with an estimated net worth of $80.5 billion.
Forbes said the combined net worth of the 10 wealthiest women on the list is about $402.6 billion, a bit higher than the $401 billion recorded last year.
Source: Legit.ng
