Elon Musk Locks Horns With Bernard Arnault Over World's Richest Rank.

Elon Musk Locks Horns With Bernard Arnault Over World's Richest Rank.

By: Charles Segun Adegbite

Elon Musk, the CEO of Tesla and founder of SpaceX has been locking horns with Bernard Arnault, Chairman And CEO, LVMH Moët Hennessy Louis Vuitton, to retain his rank as the richest person in the world since he bounced back to the position on May 31.

Musk is world's richest man today (Saturday 8 June) as at 3am, with net worth of $209.9B, while his closest rival, Arnault is $209.5B rich.

He bounced back to the first rank on Thursday night from the second position after gaining $1.7B (0.79%) at the stock market, thereby entering Friday 7 June as world's richest, with $210.2B net worth.

Both Musk and Arnault however lost huge fortune on Friday at the stock market as the former lost $259m in a single night and dropped to $209.9B from his $210.2B he was on Thursday night, while the Arnault lost $79m at the market, thereby falling to $209.5B.

Arnault who heads the LVMH empire of 75 fashion and cosmetics brands, had entered Thursday as world's richest when Musk slumped to second position on Wednesday night, as his net worth dropped to $208.6B at the stock market.

Worthy of mentioning is the fact that since May 31 when Musk bounced back as world's richest with his net worth rising to $210.7B the battle between the duo has become on going throughout this one week, almost on a daily basis.

The duo has been locking horns at the market, with each making efforts to retain his claim as the world's richest.

Musk who had been in the third position of world top billionaires as of January, 2024, according to Forbes rankings, rose to the world richest on May 31, as his net worth rose from $195Billion in 2 April to $210.7B.

He consequently overtook Jeff Bezos who was until then the second richest and Bernard Arnault who was until May 31, the richest in the world.

It may interest you to know that Musk had been the world's richest in 2022 with $219 net worth and retained the rank till 2023 when he fell drastically to $180 after purchasing Twitter and rebranded it to X.

He soon slumped to third richest in the world until April 2024 when he climbed to second position. And on May 31 his net worth surged to the 210.7B, thereby enabling him to regain his claim of being the richest.

From that moment he reclaimed his lost position, he and Arnault, who had slumped a bit, have began to lock horns for the position in a week long battle.

The duo have been rising and falling between first and second positions from that May 31 till this Saturday 8 June.