Topline
Bernard Arnault, the billionaire chairman and CEO of the global luxury goods company LVMH, has surpassed Meta founder Mark Zuckerberg as the third-richest person in the world, as LVMH’s shares continue a multi-day surge.
The two billionaires have traded ranks among the world’s richest multiple times in recent weeks.
Key Facts
Arnault has a net worth of about $188.6 billion as of around 11:20 a.m. EDT, following an increase of $4.54 billion (2.3%), according to Forbes’ Real-Time Billionaires List.
Zuckerberg has an estimated net worth of about $184.7 billion after it decreased by about $100 million.
Shares of LVMH—a conglomerate that features brands like Louis Vuitton and Tiffany & Co.—have increased by 2.6% to over $675, boosting Arnault’s net worth, as Meta’s were down slightly (0.1%).
Arnault is behind Amazon founder Jeff Bezos for the title of the world’s second-richest person, who has an estimated net worth of $195.7 billion, while Elon Musk remains the world’s wealthiest person with an estimated net worth of $247.4 billion.
Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.
Big Number
52%. That’s how much Meta’s shares have increased on the year so far, following a recent surge after the company reported a 73% increase in second-quarter profit. LVMH’s shares are down 5.7%, despite surging by as much as 22% through March 22, after an 8% jump over the last five days of trading.
Key Background
Musk and Arnault have swapped places as the world’s third- and fourth-richest person multiple times in recent weeks. Zuckerberg overtook Arnault on Aug. 6, two days before Arnault surpassed him, though the Meta founder held the third-richest spot for just over a week before Monday. The top of Forbes’ billionaire tracker has also shuffled several times, as Arnault held the title of the world’s richest person earlier this year before Musk—who took over the second-place spot from Bezos in May—overtook him. Bezos and Arnault have also traded spots as the world’s second-wealthiest, including a similar back-and-forth in June.
