Louis Vuitton's Bernard Arnault overtakes Elon Musk as world's richest man

Bernard Arnault, chairman and chief executive officer (CEO) of luxury brand LVMH Moet Hennessy Louis Vuitton SE, has surpassed Tesla CEO Elon Musk to become the world's richest person, according to Forbes real-time billionaires list.
Currently, Arnault has a net worth of $207.6 billion, higher than Musk's $204.7 billion. According to the list, Jeff Bezos, Amazon's founder and chairman, is the world's third richest person, with a net worth of $181.3 billion.

The recent surge in Arnault's net worth, a $23.6 billion increase on January 26 alone, can be attributed to the company's healthy quarterly results. It posted a 10 per cent rise in its quarterly sales. The company's stocks rose after the results were announced on January 25.
On the other hand, Musk's net worth fell by $18 billion.