The world’s richest man, Bernard Arnault, is the chairman and CEO of Moet Hennessy Louis Vuitton (LVMH), surpassing Elon Musk. According to Forbes, the French billionaire and his family’s net worth increased by $23.6 billion to reach $207.6 billion.
The report also stated that on Friday, Mr. Arnault’s net worth surpassed that of the Tesla CEO, whose $204.7 billion fell 13% as a result of Mr. Musk losing more than $18 billion.

Since 2022, the two billionaires have reportedly been in a tug-of-war over wealth, with Arnault apparently taking the lead late in the year.

The report revealed that the market cap of LVMH—the entity behind luxury goods brands like Dior, Bulgari, and Sephora—reached $388.8 billion, compared to Tesla’s $586.14 billion.

According to the Forbes real-time billionaires list, the top 10 richest people in the world are:

Bernard Arnault & Family ($207.6 billion)

Elon Musk ($204.7 billion)

Jeff Bezos ($181.3 billion)

Larry Ellison ($142.2 billion)

Mark Zuckerberg (139.1 billion)

Warren Buffett ($127.2 billion)

Larry Page ($127.1 billion)

Bill Gates ($122.9 billion)

Sergey Brin ($121.7 billion)

Steve Ballmer (118.8 billion)

With a $199 billion net worth, Musk is still the richest person in the world, according to the Bloomberg Billionaires Index, though. On the list, Elon Musk is followed by Jeff Bezos, the founder of the massive online retailer Amazon, who is worth $184 billion.

With a net worth of $183 billion, Bernard Arnault is ranked third on the Bloomberg Billionaires Index. Meanwhile, as the company’s shares reached a record high in April of last year, Bernard Arnault’s wealth surpassed $200 billion. Elon Musk and Jeff Bezos were the first two people to reach this milestone before Arnault.