LVMH CEO Arnault topped the Forbes list for the second year in a row – Kommersant

LVMH CEO Arnault topped the Forbes list for the second year in a row – Kommersant

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American magazine Forbes presented the 38th annual ranking of the world’s richest people. The list was topped by French businessman Bernard Arnault, who owns the brands Louis Vuitton, Fendi, Givenchy and others. His fortune is estimated at $233 billion. Mr. Arnault was in first place last year, when his fortune was $211 billion. In second place on the list is the head of Tesla and SpaceX, Elon Musk, with $195 billion.

Compared to 2023, Bernard Arnault’s fortune has increased by 10%. The billionaire’s main asset is LVMH shares, as well as a stake in the venture capital company Agla Ventures with investments in Netflix and ByteDance (owns TikTok). LVMH owns 75 fashion and cosmetics brands, including Louis Vuitton, Fendi, Givenchy, Christian Dior, Hennessy, Dom Perignon, Tiffany & Co and Sephora.

Elon Musk also improved the 2023 result ($180 billion), but did not break the 2022 record ($219 billion). Elon Musk owns about 12% of Tesla shares. According to Forbes, the businessman pledged more than half of his shares as collateral for personal loans worth up to $3.5 billion.

In third place on the list is Amazon founder Jeff Bezos with a fortune of $194 billion. In fourth place is the head of Meta (recognized as extremist and banned in the Russian Federation) Mark Zuckerberg with a result of $177 billion. Mr. Zuckerberg’s fortune has tripled compared to 2023. Fifth place on the list was taken by the founder of server hardware developer Oracle, Larry Ellison, with his fortune estimated at $141 billion.

Elon Musk first took first place in this Forbes ranking in the spring of 2022, when his fortune reached $219 billion. The businessman supplanted Jeff Bezos ($171 billion), while Bernard Arnault took third place in this ranking with a fortune of $158 billion.

Read more about the Forbes 2023 list in the Kommersant article. “Forbes list has shuffled names”.

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