Bernard Arnault again surpasses Bezos to be world's richest person

According to Forbes Real-Time Billionaires List, Arnault, whose subsidiaries consist of fashion companies such as Louis Vuitton, Sephora, Moet & Chandon, and Tiffany & Co, held net worth of $199.1 bn

French tycoon  Bernard Arnault, the chairman, and CEO of the French luxury conglomerate LVMH Moët Hennessy — Louis Vuitton, has become the world's richest person after Amazon founder Jeff Bezos’ net worth fell $13.9 billion in a day.
 
According to Forbes Real-Time Billionaires List, Arnault, whose subsidiaries consist of high-end fashion companies such as Louis Vuitton, Sephora, Moet & Chandon, and Tiffany & Co, held a net worth of $199.1 billion on Thursday.
 
Meanwhile, Bezos' real time net worth stood at $193.8 billion, while that of Musk was $184.7 billion.
 

This isn't the first time Arnault has led the list of the world's wealthiest people. In December 2019, January 2020, May 2021, and July 2021, he reached number one.  According to Bloomberg, he had spent $538 million buying shares of the world's largest luxury goods company in recent months.

 
Bezos’ net worth tanked by $590 million and stands at $193.8 billion whereas Musk, who is also a cryptocurrency enthusiast has a net worth of $184.7 billion, as per the Forbes' list. Amazon stock cratered 7.6 per cent on Friday after the company reported second quarter earnings.  After Arnault got more than $100 billion richer during the first year of the pandemic, LVMH’s rally has plateaued for most of the summer.