Bernard Arnault lost his position as “the second richest person in the world,” after a wave of selling shares in luxury goods companies led to his net worth falling to a level lower than that of Jeff Bezos, founder of Amazon.com.
Arnault’s wealth has decreased by $6.8 billion since Wednesday, after LVMH announced lower-than-expected growth in sales. Arnault is considered the founder and CEO of the French company.
Arnault’s wealth now amounts to $155.1 billion, slightly less than Bezos’ wealth of $156.3 billion, according to the Bloomberg Billionaires Index.
The richest person in the world, Elon Musk, benefited from the recovery in technology stocks, and added $96.8 billion to his wealth this year, as Tesla shares rose by 106%, while Bezos’ wealth grew by $49.3 billion this year, after a 58% jump in Amazon shares. ».
2023-10-17 22:01:38
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