French billionaire Bernard Arnault recalled the time when he and Elon Musk, the CEO of Tesla and SpaceX, discussed the idea of a Louis Vuitton-branded rocket.

What Happened: While appearing on CNBC's Squawk Box, Arnault spoke about his discussions with Musk. "I admire very much what he's doing because I think he's a genius. To do such a success with a car company was quite unexpected. But he's a genius," he said.

The French luxury mogul went on to reveal that the last time the two billionaires talked about an idea involving a rocket. "Maybe we have a way to put Vuitton in a rocket. I don't know if we go somewhere."

When questioned about the possibility of branding the rocket's exterior with Louis Vuitton, Arnault responded, "Maybe the inside. I don't know. We have to — we have to think. He did not say no."

Arnault then humorously voiced his apprehension, saying, "I'm afraid he will ask me to go with him in the rocket." When asked if he would go on the rocket, Arnault said "I'm not sure."

"Last time we discussed one idea, which is a rocket. Maybe we have a way to put Louis Vuitton in a rocket. I don't know if we go somewhere," says @LVMH CEO Bernard Arnault on his last conversation with @ElonMusk. "I'm afraid he will ask me to go with him in the rocket." pic.twitter.com/lg5VbihOsk

— Squawk Box (@SquawkCNBC) July 26, 2024

Why It Matters: Last year in June, it was reported that Musk and Arnault had lunch together in Paris. They reportedly met at one of Europe's most luxurious hotels, the Cheval Blanc, where opulent rooms offer a breathtaking view of the Eiffel Tower.

Musk is currently the wealthiest person in the world with a net worth of $243 billion. Meanwhile, Arnault has a net worth of $188 billion, making him the third richest person on Bloomberg's Billionaire Index.