This surge, totaling $23.6 billion in a single day, propelled him past Musk’s $204.5 billion fortune. While Musk faced a stock market stumble with Tesla dropping 13%, Arnault’s LVMH shares were on a luxurious ascent, soaring over 13% on the heels of robust sales.
Arnault’s journey to the top involved a staggering increase in net worth, hitting a whopping $207.8 billion, according to the real-time Forbes billionaires list.
Arnault’s reign at the top is fueled not just by fashion flair but also by savvy business moves, like the acquisition of Tiffany & Co. for nearly $16 billion in 2021—the talk of the town in luxury brand circles.
