The CEO of the luxury goods group LVMH, Mot Hennessy Louis Vuitton, and one of the world’s top collectors, Bernard Arnault, is now recognized as the wealthiest person in the world, according to a recent Forbes article.
Arnault and his family have eclipsed Elon Musk, of SpaceX and Tesla fame, to take the top spot on Forbes’ list of the world’s wealthiest individuals, with a reported fortune estimated to be worth $186.2 billion and growing.
Musk has dropped to the second position after losing $2.7 billion, according to Forbes, on the most recent trading day.
According to Forbes, Arnault is far ahead of his biggest commercial rival, François Pinault, a fellow French entrepreneur who also happens to be one of the top collectors in the world. The Pinault family, who control the luxury goods firm Kering, are presently ranked #30.
Arnault is well-known in the art world for his sizable art collection and for persuading prominent artists to work with LVMH companies. Since 2006, he and his wife, Hélène, have consistently been among the Top 200 Collectors on the ARTnews list. His charity manages a gallery in Paris where big-name performances frequently take place.