Owner of Hennessy, Louis Vuitton Became the World’s Richest Person — But Elon Musk Quickly Reclaimed His Top Spot

Chief Executive of LVMH (Louis Vuitton Moet Hennessy) Bernard Arnault speaks Oct. 17, 2019, during a visit to the new Louis Vuitton factory in Alvarado, Texas. (Photo by NICHOLAS KAMM/AFP via Getty Images)

New Twitter owner and Tesla and SpaceX co-founder Elon Musk briefly lost his spot as the world’s richest person Wednesday, according to Forbes, which tracks the net worth of the world’s billionaires. Bernard Arnault, the chief executive of Moët Hennessy Louis Vuitton, and his family passed Musk after a dip in the value of Tesla and Musk’s $44 billion purchase of Twitter.

Musk, who has held the top spot on the Forbes list since September 2021, when he took over the title from Amazon founder Jeff Bezos, soon reclaimed his position at the apex.

As of Friday, Musk was in first place with a net worth of $190.5 billion, while Arnault and family are just behind at $187.3 billion.

Musk’s net worth fell below $200 billion on Nov. 8 Tesla’s shares suffered based on worries that Musk is more preoccupied with Twitter, per Reuters.

Tesla has lost almost half of its market value, and Musk’s net worth has dropped by about $70 billion since he bid for Twitter in April.

LMVH is the parent company of luxury fashion brand Louis Vuitton as well as French cognac producer Hennessy.

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