It was not a typical Thursday for Elon Musk. He Lost about $6.2 billion dollars of net worth, lowering his fortune to $150.9 billion, which is now good (or dare we say bad?) enough for third on the richest person in the world list.
The Tesla CEO’s loss, is the capital gain for another foreign born CEO, and it’s not out of the realm of possibility that he could be in striking distance of Jeff Bezos soon…
The new No. 2 is Bernard Arnault, the owner of fashion conglomerate LVMH.
You might not know who Arnault is because he’s European and stays under the radar more than Musk, but take a peek inside your closet and you’ll see you may have personally had something to do with his fabulous wealth.
The LVMH empire includes some of the biggest fashion brands in the world, over 70 total, including Louis Vuitton, Christian Dior, Fendi, Givenchy, Marc Jacobs, Bvlgari, Tiffany & Co, and Sephora.
Musk and Jeff Bezos had been seesawing between the top two positions on the wealth board, but Tesla’s stock has fallen about 25% since February and he will now have to work to hold on to the number three spot.
Bezos is still at the top of the heap, Roughly $25 billion ahead of Musk and $21 billion in front of Arnault.
Look out for Larry Ellison, who’s currently in the no. 7 position. He gained almost $4 billion on Thursday, and is now nipping at the heels of Mark Zuckerberg and Warren Buffett, and could catch both of them with a good day.
Here’s a little more info on the richest person in the fashion world. Arnold owns a 135-acre island in the Bahamas. It can be rented out for$300,000 per week. Johnny Depp and Tyler Perry reportedly crashed there.
He also loves tennis, with Roger Federer being his favorite player. One time Arnault played a set against Federer, and lost 6-0.
He’s worked hard to achieve his massive wealth, and is a self-made man just like Bezos, Musk, Gates and Ellison. His big break in business came when he bought out a company Agache-Willot-Boussac, which had declared bankruptcy. That was his inroad into owning the Dior fashion house, and the rest was history.