Bernard Arnault replaces Elon Musk as world’s richest person

Elon Musk is no longer the world’s richest person, after being replaced by French luxury goods tycoon Bernard Arnault.

This is the first time Arnault has topped the list, with a net worth of $211 billion, according to Forbes.

Arnault heads LVMH, which owns Louis Vuitton, Christian Dior and Tiffany & Co, among others and, despite a cost-of-living crisis plaguing the rest of the world, Arnault added $53 billion to his fortune over the past 12 months.

Coming in second on the list, with $180 billion, is Elon Musk. Forbes said Musk essentially “tweeted himself out of the top spot”, with stock in his other company Tesla plummeting nearly 50 percent since he took over the social media platform last year.

In third position is Jeff Bezos, with $114 billion to his name. The former Amazon CEO has been dedicating his time to space travel with his company Blue Origin. Forbes reported Bezos had lost around $57 billion over the past year – the biggest decline for any billionaire – due to a 38 per cent decline in Amazon stock.

Fourth on the list is Larry Ellison, with a net worth of $107 billion. Ellison is the chairman and former CEO of computer technology company Oracle.

In fifth place is 92-year old Warren Buffet, with a net worth of $106 billion. Following closely behind with $104 billion was Bill Gates, and Michael Bloomberg with $94.5 billion.

Here are the top 25 billionaires in the world:

Bernard Arnault and family – $211 billion

Elon Musk – $180 billion

Jeff Bezos – $114 billion

Larry Ellison – $107 billion

Warren Buffett – $106 billion

Bill Gates – $104 billion

Michael Bloomberg – $94.5 billion

Carlos Slim Helú and family – $93 billion

Mukesh Ambani – $83.4 billion

Steve Ballmer – 80.7 billion

Françoise Bettencourt Meyers and family – $80.5 billion

Larry Page – $79.2 billion

Amancio Ortega – $77.3 billion

Sergey Brin – $76 billion

Zhong Shanshan – $68 billion

Mark Zuckerberg – $64.4 billion

Charles Koch – $59 billion

Julia Koch and family – $59 billion

Jim Walton – 58.8 billion

Rob Walton – $57.6 billion

Alice Walton – $56.7 billion

David Thomson and family – $54.4 billion

Michael Dell – $50.1 billion

Gautam Adani – $47.2 billion

Phil Knight and family – $45.1 billion