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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