Bernard Arnault Becomes World’s 3rd-Richest Again—Overtaking Mark Zuckerberg

Forbes Business Breaking Bernard Arnault Becomes World’s 3rd-Richest Again—Overtaking Mark Zuckerberg Ty Roush Forbes Staff Ty Roush is a breaking news reporter based in New York City. Following Aug 19, 2024, 11:38am EDT Share to Facebook Share to Twitter Share to Linkedin Topline Bernard Arnault, the billionaire chairman and CEO of the global luxury goods
Bernard Arnault Becomes World’s 3rd-Richest Again—Overtaking Mark Zuckerberg

Bernard Arnault Becomes World’s 3rd-Richest Again—Overtaking Mark Zuckerberg

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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.

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.

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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.

Further Reading

ForbesMark Zuckerberg Overtakes Bernard Arnault As World’s 3rd-Richest Person

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