There’s a new No. 1 atop Forbes’ annual World Billionaires List: Bernard Arnault, owner of luxury goods brands such as Louis Vuitton, Christian Dior and Tiffany & Co.
Arnault, who co-founded LVMH in 1987, has overseen an increase in revenue and profits, which has added $53 billion to his fortune over the last year, according to Forbes 25 Richest People in the World, released this week. LVMH added Tiffany & Co. to its portfolio in 2020 and officially closed the deal in January 2021.
Elon Musk, founder of Tesla and SpaceX, last year topped Forbes’ annual list of the 25 Richest People in the World, but saw his fortune decline by $39 billion, from $219 billion last year to $180 billion.
At No. 3 on the annual list of richest people: Jeff Bezos at $114 billion. That’s about $57 billion less than a year ago, the largest loss of anyone on the list, Forbes said. The big reason? A 38% decline in Amazon stock.
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Forbes’ World’s Billionaires list: A $200 billion decline
More facts from Forbes’ World’s Billionaires list:
- Collectively, the 25 richest people in the world are worth $2.1 trillion, down $200 billion from $2.3 trillion in 2022, Forbes said.
- For the second straight year, the number of billionaires declined – from 2,668 in 2022 to 2,640 this year. The collective wealth of all the billionaires fell by $500 billion, to $12.2 trillion, due to declines in public and private markets, Forbes said.
- Two who dropped out of the Top 25: Zhang Yiming, founder of Bytedance, the parent company of Tik Tok dropped from No. 25 to No. 26; and Changpeng Zhao, known as CZ, the founder of cryptocurrency exchange Binance, fell from No. 19 No. 167.
- New to the Top 25: Canadian’s richest person David Thomson, chairman of Thomson Reuters ($54.4 billion) and Nike cofounder Phil Knight ($45.1 billion).
- There are three women in the top 25: L’Oréal heiress Françoise Bettencourt Meyers (No. 11, $80.5 billion); Julia Koch, widow of Koch Industries exec, David Koch (No. 17, $59 billion); and Walmart heiress Alice Walton (No. 21, $56.7 billion).
- Americans hold 17 of the top 25 spots, Forbes said, with France and India each having two on the list.
- Eight of the 25 richest people made most of their money in technology, while seven made their fortunes in fashion & retail.
Follow Mike Snider on Twitter: @mikesnider.
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