Bernard Arnault

Tesla and SpaceX CEO Elon Musk briefly lost his status of the world's richest person on Dec. 7 to Bernard Arnault, the chairman of French luxury ...

Art collector and LVMH CEO Bernard Arnault surpassed Elon Musk on a Forbes list of the richest people in the world.

That sent Tesla stock down, enough to drop Musk below Bernard Arnault of French luxury conglomerate LVMH on Forbes' ranking of the world's wealthiest people for ...

With tech stocks having crashed since Mid-April, the company is likely now worth far less than the $44 billion Musk agreed to pay. But Musk may have renewed interest in a margin loan if the estimated $1 billion of annual interest expense on the $13 billion of debt used to finance the acquisition proves too much for an already struggling Twitter to cover. Musk’s initial financing for the takeover included a $6.3 billion personal margin loan, in addition to the $13 billion of debt he ultimately saddled Twitter with, keeping it off his own personal balance sheet. He has already sold $19.3 billion (pre-tax) worth of the company’s stock from mid-April to early November, presumably to help finance the acquisition. Arnault was worth an estimated $185.1 billion as of 9:30 a.m ET Thursday, with Musk trailing him by $1 billion, worth an estimated $184.1 billion. That sent Tesla stock down, enough to drop Musk below Bernard Arnault of French luxury conglomerate LVMH on Forbes’ ranking of the world’s wealthiest people for the third time in two days.

Luxury goods magante Bernard Arnault, along with his family, surpassed tech billionaire Elon Musk to become the world's richest person with Forbes' real-time ...

It’s super important that we keep that heritage.” Moët Hennessy CEO Philippe Schaus said at the time, “It’s important for us that we are acquiring a family business with a legacy and heritage. This website uses cookies so that we can provide you with the best user experience possible. [saw revenue growth](https://www.thedrinksbusiness.com/2022/10/lvmh-sees-champagne-and-wine-sales-soar-amid-overall-sales-growth/) in the double figures during the third quarter of 2022, with its Champagne and wine sector leading the way in terms of growth. Sales of LVMH’s wine and spirits arm jumped 14% to €5.22 billion (US$5.07bn) over a nine-month period, while total organic revenue for LVMH in its entirety rose 20% to reach €56.5bn (US$54.9bn) for the first nine months of 2022. LVMH owns a dazzling array of major players in the wine and spirits industry, including Moët & Chandon, Krug, Veuve Clicquot, Hennessy and Château d’Yquem in its wine and Champagne sector, and Hennessy, Glenmorangie, Belvedere in its spirits division.

But around 1730 GMT Wednesday, Musk was back on top at $184.9 billion, followed by Arnault and his family at $184.7 billion. Indian businessman Gautam Adani was ...

According to Bloomberg’s ranking, calculated after US markets closed on Tuesday, had Musk in the lead at $178.9 billion, followed by Arnault at $165.1 billion. Tesla owner Elon Musk briefly lost the top spot on Forbes’ billionaire list Wednesday to Bernard Arnault, whose family owns the world’s leading luxury group, LVMH. Elon Musk Briefly Loses Top Spot On Forbes Billionaire List To Bernard Arnault