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Musk is the richest man in the world again
Sina Technology News Beijing time on the morning of June 1, according to reports, the French luxury goods giant LVMH Group’s share price in Paris fell 2.6%, the company’s founder Bernard Arnault gave up the world’s richest man, Musk Climb again.
Arnault is 74 years old. This year, the two compete for the title of the world's richest man, alternating with each other and facing each other. Arnault surpassed Musk in December last year, because at that time inflation soared, technology stocks were in a downturn, and the luxury industry had stronger resistance. LVMH owns brands such as Louis Vuitton, Fendi and Hennessy.
Now that the economy is showing signs of recession, investors' confidence in the luxury industry has begun to decline. LVMH shares have fallen 10 percent since April, and Arnault's net worth has evaporated by $11 billion in one day. Tesla is just the opposite, its stock price has risen, and Musk's net worth has risen by US$55.3 billion this year. About 71% of Musk's wealth comes from Tesla, and Tesla's stock price has soared 66% this year.
Musk currently has a wealth of US$192.3 billion, and Arnault ranks second with US$186.6 billion.
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