LVMH founder Bernard Arnault is no longer the richest man in the world.

LVMH founder Bernard Arnault is no longer the richest man in the world. When it comes to billionaires Arnault is now behind Elon Musk ($270 billion) and Jeff Bezos ($215 billion) on the Bloomberg Billionaires Index. He has seen his net worth plummet this year, part of a larger downturn in the luxury market that has caused billionaires in the field to lose a collective $24 billion in 2024 so far. Arnault himself is down $10.8 billion year to date, with his wealth sitting at $197 billion.

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