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☆ LVMH owner Bernard Arnault liked this Paris bistro so much his company bought it
▼ + stars: | 2024-06-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —French luxury conglomerate LVMH has added a tiny Parisian bistro to its sprawling empire of designer fashion brands, jewelry makers and hotels. A dish served at Chez l'Ami Louis restaurant in Paris. Her lifestyle company Goop describes Chez L’ami Louis on its website as “one of the best, most venerable bistros in Paris.”“It is small and wood-paneled, with an ancient oven and a sick wine list,” Goop gushed. In 2019, the company acquired Belmond, which owns hotels and organizes luxury rail and river cruises, in a $3.2 billion deal. Earlier this month, LVMH announced “a strategic investment” in the Orient Express, a brand offering luxury train travel owned by French hospitality firm Accor.

Persons: Bernard Arnault, Chez L’ami Louis, LVMH, “, Bill Clinton, Martin Scorsese, Victoria Beckham, Gwyneth Paltrow’s, Paris Arnault, Arnault, Kering, ” Arnault, Jeff Bezos, Elon Musk, Louis Vuitton Organizations: London CNN, Chez, Louis, CNN, Notre Dame, Bloomberg, Dior, Orient Express Locations: Paris

☆ The luxury conglomerate behind Cartier is beating LVMH at its own game
▼ + stars: | 2024-06-19 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

But there's another corporation beating LVMH at its own game, and you probably haven't even heard of it: Richemont. Switzerland-based Richemont, behind brands like Cartier, Van Cleef & Arpels, and Piaget, is having a moment. "All of this favors the most established brands: Cartier and Van Cleef." Driven by Richemont's top brands, Cartier and Van Cleef, sales gained 7% in the country, including Hong Kong and Macau, in Richemont's 2024 fiscal year. "If you're in a bar or restaurant, you're sitting at a distance, you can recognize the Labra pendant from Van Cleef.

Persons: —, Louis Vuitton, Bernard Arnault's, Van Cleef, Piaget, outperforming LVMH, Saint Laurent, It's, Cartier, Chiara Battistini, it's, Gucci, Arnault, Johann Rupert, Rupert, Richemont, Fflur Roberts, HSBC's Rambourg, Diana —, Tim Graham, Jelena Sokolova, Morningstar, Rambourg, Euromonitor's Roberts, Van, Keith Tsuji, Sokolova, Cleef, Nicolas Bos, — Bos, Nicholas Bos, Jared Siskin, I've, What's, JPMorgan's Battistini, Bos, Porter Organizations: Service, LVMH, Business, Cartier, Gucci, HSBC, Google, JPMorgan, Credit Suisse, Deloitte, Local, Art Basel, McKinsey, Prada Locations: Switzerland, China, Euromonitor, Hong Kong, Macau, Art Basel Hong Kong, Asia

☆ Forget Elon Musk’s record pay package from Tesla. More could be on the way.
▼ + stars: | 2024-06-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Tesla shareholders on Thursday confirmed they want Elon Musk to get a massive record pay package for running Tesla for the last six years. “The chancellor found a number of defects in the process.”But Tesla shareholders also approved moving Tesla’s state of incorporation to Texas, partly in reaction to the Delaware decision. “What we recognized in 2018 and continue to recognize today is that one thing Elon most certainly does not have is unlimited time,” Tesla board chair Robyn Denholm wrote to Tesla shareholders ahead of the most recent vote. Ark Invest has a five-year target price for Tesla shares at $2,600 a share. Not everyone on that list got there through packages of stock options.

Persons: Elon Musk, Tesla, Chancellor Kathaleen McCormick, Musk, It’s, “ It’s, Samantha Crispin, Baker Botts, “, ” Musk, McCormick’s, Elon, ” Tesla, Robyn Denholm, ”, Tasha Keeney, ” Elon Musk, Jeff Bezos, Bernard Arnault, Mark Zuckerberg, Larry Page, Bill Gates —, Zuckerberg, McCormick Organizations: New, New York CNN, CNN, Tesla, ARK Invest, Elon, Invest, Microsoft, Apple, SpaceX, Amazon, Facebook Locations: New York, Delaware, Texas, “, Tesla

☆ Jeff Bezos and Bernard Arnault are worth a combined $404 billion — here are the routes they took to achieve mega-wealth
▼ + stars: | 2024-06-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Jeff Bezos and Bernard Arnault have a combined net worth of around $404 billion. The two business titans are among the world's richest people, Bloomberg's Billionaires Index shows. AdvertisementJeff Bezos and Bernard Arnault are two of the world's richest people, with a combined net worth of around $404 billion. As of Monday, Amazon founder Bezos is ranked first on Bloomberg's Billionaires Index, with a net worth of $206 billion. Arnault, the owner of the luxury goods conglomerate LVMH, is ranked third, with a net worth of $198 billion.

Persons: Jeff Bezos, Bernard Arnault, —, Bezos, Dom Pérignon Organizations: Service, Tiffany, Business

☆ Jeff Bezos dethrones Bernard Arnault to reclaim crown of world's richest person
▼ + stars: | 2024-06-11 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Jeff Bezos has reclaimed the title of the world's richest person from luxury tycoon Bernard Arnault. Bezos, Amazon's cofounder, now leads Bloomberg's Billionaires Index with a $209 billion net worth. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJeff Bezos has reclaimed the top spot as the world's richest person once again. According to Bloomberg's Billionaires Index, the Amazon cofounder has dethroned Bernard Arnault and now ranks first among the world's 500 richest billionaires.

Persons: Jeff Bezos, Bernard Arnault, Elon Musk, — Organizations: Service, Amazon, Business

☆ Starbucks' Howard Schultz talks Steve Jobs screaming at him and wishing he'd trademarked the latte in a new podcast
▼ + stars: | 2024-06-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +10 min

Starbucks didn't sell its own coffee early on"When Starbucks opened in Pike Place Market in 1971, they were using Peet's Coffee. Howard Shultz is going to acquire Starbucks Coffee Company, and he's never going to hear from you again." Together the trio made the "huge decision" to sell Starbucks coffee in Costco, which sparked a "revolt inside the halls of Starbucks," Schultz said. Related storiesThe former Starbucks CEO faced similar blowback when he agreed to let United Airlines serve his company's coffee. "We're not a beverage company serving coffee, we are a coffee company serving people.

Persons: —, Howard Schultz, Schultz, Bill Gates, Steve Jobs, Costco's, Bernard Arnault, Lavazza, I've, Samuel Stroum, it's, Howard Shultz, he's, Brian Ach, latte, Jeff Brotman, Jim Sinegal, they've, Coke, Pepsi, Steve, Justin Sullivan, Blackstone, Alexandre, Louis Vuitton, Alexandre Arnault, Donato Sardella, Louis Organizations: Service, Starbucks, Business, Pepsi, Microsoft, Starbucks Coffee Company, Costco, United Airlines, Starbucks Facebook, Staff, Getty, Tiffany's, Louis Vuitton Locations: Coke, Pike, San Francisco, Seattle, Chicago, America, Costco, Atlanta, New York, Apple's, California, Mobile, Italy, Milan

☆ Before the Olympics, the Fabulous French Fashion Flex
▼ + stars: | 2024-06-07 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +2 min

When is a fashion show not just a fashion show? Indeed, the front-row stars are as much an attention-grabbing part of the shows as the shows themselves. In a world of fashion micro-trends, that may be the biggest trend of all. This was especially true this season, as the shows of the five big heritage French brands — Chanel, Louis Vuitton, Hermès, Dior and Balenciaga — served as de facto calling cards for the Paris Olympics, which is being touted as the most “fashion” Olympics ever. It is no coincidence that two of those brands, Louis Vuitton and Dior, are owned by LVMH, which is a top-line sponsor of the Olympics.

Persons: — Chanel, Louis Vuitton, Hermès, Dior, Balenciaga —, Bernard Arnault, Balenciaga Organizations: Paris Olympics, Dior, LVMH, Hermès Locations: China, France

☆ Meet Delphine Arnault, Dior CEO and daughter of world's richest man
▼ + stars: | 2024-05-06 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Delphine Arnault, eldest child of LVMH head Bernard Arnault, is the CEO of Christian Dior. Apart from a brief stint at McKinsey, her career has spanned multiple roles for LVMH since 2000. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The eldest daughter of the world's richest man, LVMH CEO Bernard Arnault, the 49-year-old Delphine is now a year into her role as CEO of Dior. Since 2000, her career has spanned multiple roles with LVMH, including CEO of Dior since 2023.

Persons: Delphine Arnault, LVMH, Bernard Arnault, Christian Dior, Louis Vuitton, —, Delphine, Delphine Arnault's Organizations: McKinsey, TAG, Service, Dior Locations: Berluti

For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans. Opinion Guest Essay Make Billionaires Pay (Their Taxes)Until recently, it was hard to know just how good the superrich are at avoiding taxes. Let’s agree that billionaires should pay income taxes equivalent to a small portion — say, 2 percent — of their wealth each year. Billionaires who already pay the baseline amount of income tax would have no extra tax to pay. The idea that billionaires should pay a minimum amount of income tax is not a radical idea.

Persons: Emmanuel Saez, Gabriel Zucman, we’ve, Demetrio Guzzardi, Jeff Bezos, Bezos, Berkshire Hathaway, Warren Buffett, Elon Musk, Bernard Arnault, Arnault’s, Arnault, Reagan, Critics, haven’t, Biden Organizations: Government, Social Security, European Economic Association, Institut des Politiques, Economic, Amazon, Elon, Twitter, Shepard, Getty, Trump, Internal, Abaca, New York, Facebook Locations: United States, Netherlands, States Netherlands Italy France, Italy, France, Tesla, LVMH, America, Europe, Sweden, Germany, Switzerland, U.S, Brazil, South Africa, Spain

☆ Elon Musk is $36 billion richer since returning from his triumphant China trip
▼ + stars: | 2024-04-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Elon Musk has gained $36 billion in net worth over the last week, per Bloomberg. Musk is reaping the benefits after Tesla shares surged following his successful trip to China. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is $36 billion richer following his recent trip to China. Three years later, he's now behind LVMH boss Bernard Arnault and Amazon founder Jeff Bezos, with a current estimated net worth of $202 billion.

Persons: Elon Musk, —, Elon, Musk, Dan Ives, he's, Bernard Arnault, Jeff Bezos, Tesla Organizations: Bloomberg, Service, Tesla, SpaceX, Amazon Locations: China, China . China

☆ Eat, sleep, live luxury: LVMH is building whole cityscapes centered on their designer stores
▼ + stars: | 2024-04-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +5 min

Luxury powerhouse LVMH is investing billions in real estate, The Wall Street Journal reported. Michael Burke, head of LVMH Fashion Group, told the Journal, "We're creating a city." According to the Journal, the company spent $2.1 billion last year acquiring properties in Paris ahead of the Olympic games. Related storiesThe luxury brand is among several spending billions on luxury stores and experiences. Chanel and LVMH are also interested in purchasing properties on New York's Fifth Avenue and the Champs-Élysées in Paris, the Journal reported.

Persons: —, Louis Vuitton Moët Hennessy, Louis Vuitton, Frank Gehry, Michael Burke, we're, Burke, Bernard Arnault, Saint Laurent, Chanel, LVMH, Amar Sitayeb, Saint, Alan DeSousa Organizations: Street Journal, Service, Wall Street Journal, Dior, LVMH, Design, Miami Design District, Gucci, Montenapoleone, The New York Times, Times, Canada, Laurent, Global News, Business Locations: Paris, Pont Neuf, Miami, Montreal, Milan's, New, The, Marais

☆ Mark Zuckerberg overtakes Elon Musk as the world's 3rd-richest person as their companies' stocks go in opposite directions
▼ + stars: | 2024-04-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg has overtaken Elon Musk as the world's third-richest person, with a $175 billion fortune. Zuckerberg has gained $47 billion in wealth this year while Musk has lost $55 billion, according to data from Bloomberg. Mark Zuckerberg had a net worth of $175 billion as of Wednesday, just slightly overtaking Musk's net worth of $174 billion. Year-to-date, Zuckerberg has added $47.3 billion to his net worth while Musk has seen his net worth decline by $55.2 billion. Related storyMusk is ahead of Bill Gates' $149 billion fortune, while Zuckerberg is behind Jeff Bezos' $203 billion fortune and Bernard Arnault's $221 billion net worth.

Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Musk, —, Bill Gates, Jeff Bezos, Bernard Arnault's Organizations: Bloomberg, Meta, Service, Tesla, Facebook, SpaceX

☆ The world's richest person just put 2 more of his kids on the board of his $430 billion company
▼ + stars: | 2024-04-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Bernard Arnault has appointed two more of his children to LVMH's board. Alexandre Arnault is a vice president at Tiffany & Co. and Frédéric Arnault heads LVMH's watches division. AdvertisementThe French luxury-goods billionaire Bernard Arnault, who's the world's richest person, has appointed two more of his children to LVMH's board. Only Jean Arnault, Bernard Arnault's youngest son, doesn't sit on the company's board. Bernard Arnault is the world's richest person, with a net worth of about $221 billion, according to estimates by Bloomberg.

Persons: Bernard Arnault, Alexandre Arnault, Frédéric, Bernard Arnault's, —, Frédéric Arnault, Delphine Arnault, Dior Couture, Antoine Arnault, LVMH, Jean Arnault, doesn't, Louis Vuitton's, Louis Vuitton, Dior, Marc Jacobs, Givenchy Organizations: Tiffany, Service, Christian Dior, Bloomberg

☆ Elon Musk's wealth has crashed by $160 billion from its peak as Tesla's problems pile up
▼ + stars: | 2024-04-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The stock drop has fueled an estimated $160 billion decline in Elon Musk's net worth. AdvertisementTesla's mounting troubles have dealt a heavy blow to Elon Musk's net worth. However, Musk's net worth has plunged by about $160 billion since then to $178 billion at Tuesday's close. Musk's net worth has taken a big hit from the decline because his 13% stake in the automaker makes up a big chunk of his wealth. He topped the Bloomberg rich list with a $229 billion fortune in January, but his net worth has crashed by $51 billion, or 22%, since then.

Persons: —, Elon, Warren Buffett, LVMH's Bernard Arnault, Jeff Bezos, Meta's Mark Zuckerberg, Musk, He's, Zuckerberg, isn't Organizations: Service, Bloomberg, SpaceX, Buffett, Tesla, Twitter Locations: Elon Musk's

☆ What yachting industry insiders have to say about Jeff Bezos' superyacht
▼ + stars: | 2024-03-27 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Read previewIt's been just about a year since Koru, Jeff Bezos' $500 million megayacht, set sail from the Oceanco shipyard in the Netherlands, capturing the attention of yachting insiders and land dwellers alike. Unlike many other megayachts, Koru, which media billionaire Barry Diller's Eos inspired, is designed as a sailing yacht. AdvertisementLike most other megayachts, Koru is powered by her engines, which are reportedly innovative in their use of a kinetic energy recovery system. AdvertisementTeak or not, the yachting industry isn't generally known for being all that environmentally friendly — or indeed lowkey, so many who BI talked to didn't buy into the idea that Koru is "too much." It's the latest superyacht to capture the yachting world's attention.

Persons: —, Jeff Bezos, Koru, they'd, Federico Rossi, Barry Diller's Eos, he'd, Bezos, Lauren Sanchez, Origin's, Shephard, That's, Anders Kurtén, I'm, Jerry Jones, Bernard Arnault, Mark Zuckerberg Organizations: Service, Palm, Business, Industry, Yachts Locations: Netherlands, St, Myanmar

☆ Jeff Bezos and Bernard Arnault are worth a combined $400 billion — here are the routes they took to achieve mega-wealth
▼ + stars: | 2024-03-16 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Jeff Bezos and Bernard Arnault have a combined net worth of around $400 billion. Bezos and Arnault are the world's richest people, topping Bloomberg's Billionaires Index. AdvertisementJeff Bezos and Bernard Arnault are the world's two richest people, with a combined net worth of around $400 billion. Arnault, the owner of the luxury goods conglomerate LVMH, is ranked first on Bloomberg's Billionaires Index, with a net worth of $202 billion. Amazon founder Bezos is ranked second on the index, with a net worth of $197 billion.

Persons: Jeff Bezos, Bernard Arnault, —, Dom Pérignon, Bezos Organizations: Service, Tiffany

☆ Eva Longoria and Admiral Bill McRaven to receive $100 million Bezos Award
▼ + stars: | 2024-03-14 | by ( Jake Tapper | Ramishah Maruf | ) edition.cnn.com time to read: +3 min

In 2021, the inaugural recipients of the prize were Van Jones, a lawyer and CNN commentator, and chef José Andrés, each of whom received $100 million. They also serve as national spokespeople for the Brain Health Project, which focuses on brain health and brain performance with a concentration on veterans. Longoria, who starred in the television series “Desperate Housewives,” has focused on education and entrepreneurship in Latino communities. The Eva Longoria Foundation aims to connect Latinos and Latinas in lower-income areas with peer mentors, and Longoria has a start-up fund for Latino-owned small businesses. Bezos and Sánchez pledged $100 million to recovery efforts in Maui after the devastating wildfires in 2023, though the donation has come under scrutiny.

Persons: Jeff Bezos, Lauren Sánchez, Bill McRaven, Eva Longoria, Bernard Arnault, Van Jones, José Andrés, Dolly Parton, McRaven, “, Lauren, Jeff, ” McRaven, Longoria, ”, ” Longoria, Bezos, Warren Buffett, Melinda French Gates, Bill Gates, MacKenzie Scott, Sánchez Organizations: New, New York CNN, Amazon, University of Texas, Bloomberg, CNN, Warrior Foundation, Brain Health, “, Fund Locations: New York, Bezos, Maui

☆ A new documentary wrestles with the highlights — and lowlights — of John Galliano’s controversial career
▼ + stars: | 2024-03-12 | by ( Trey Taylor | ) edition.cnn.com time to read: +9 min

CNN —After a first intervention for the fashion house’s seismic creative director John Galliano failed, Dior’s then-CEO Sidney Toledano staged a second, more serious one. In response, as Toledano recounts in the new documentary “High & Low: John Galliano,” the then-50-year-old gym-obsessive ripped open his shirt to reveal a rippling torso and said, “Does this look like the body of an alcoholic?”And so the designer’s drinking and pill-popping rolled on. At least, “High & Low” director Kevin Macdonald, whose documentary performs a thrilling autopsy of Galliano’s career collapse, thinks so. Nicholas MatthewsUnraveling threadsAs its title suggests, “High & Low” scrutinizes the designer’s extraordinary rise and dramatic flameout. John Galliano, pictured at his home in Beauvais, France.

Persons: John Galliano, Dior’s, Sidney Toledano, Galliano, Dior, Bernard Arnault, Arnault, Toledano, ”, Perle, Hitler, ” John Galliano, France —, Dominique Charriau, decamped, Low, Kevin Macdonald, I’d, ” Macdonald, “, ’, Macdonald, Anna Wintour — Galliano’s, —, Wintour, ’ ” Macdonald, shouldn’t, I’m, John —, Nicholas Matthews Galliano, Nicholas Matthews, ” Johann Brun, John, “ John, ” Galliano, John Galliano’s, Derek Hudson, He’s, you’d, John then, Tim Blanks, Cecil B, DeMille, Kate Moss, Jamie Hince, Oscar de la, Maison, Pat McGrath, Galliano’s, it’s Organizations: CNN, Paris Fashion, Couture, Rodin, Dior, Hulton Locations: Paris, France, Scottish, Couture, Beauvais

☆ Sephora's success shows that people still want to treat themselves during tough economic times
▼ + stars: | 2024-03-09 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +2 min

Sephora's CEO said the company had benefited from the "lipstick effect," The FT reported. Sephora's CEO, Guillaume Motte, told The FT that its sales success, which is highlighted in LVMH's 2023 annual results, benefited from the "lipstick effect." In-store sales have driven Sephora's recent growth, Motte told The FT. In the annual results report, Arnault linked the company's growth to the "ever-growing popularity of Sephora's store concept worldwide." The US is Sephora's biggest market and "we are gaining market share there like crazy," Motte told The FT. Across North America, Sephora reached $10 billion in revenue in 2023.

Persons: LVMH, —, Guillaume Motte, Alpha, Gen Zers, Motte, Bernard Arnault, Jeff Bezos, Arnault, Sephora Organizations: Service, FT Locations: North America

☆ Tesla's value has slumped by $234 billion this year — that's more than McDonald's, Disney, or Nike are worth
▼ + stars: | 2024-03-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Tesla's market value has tumbled $234 billion this year, or more than McDonald's or Disney are worth. Elon Musk's EV maker is close to losing more value than Netflix or Coke's entire market caps. AdvertisementTesla's market value has plunged by an astounding $234 billion this year — that's considerably more than McDonald's ($212 billion), Disney ($202 billion), and Cisco ($199 billion) are worth. That decline is close to the entire market caps of Netflix ($259 billion) and Coca-Cola ($257 billion), and larger than the entire market value of American Express ($158 billion) and Nike ($148 billion). It's also worth noting that Tesla is still worth more than 10 times the value of either General Motors ($46 billion) or Ford ($49 billion).

Persons: —, It's, He's, LVMH's Bernard Arnault, Jeff Bezos, Tesla, Musk, hasn't, Ross Gerber Organizations: Elon Musk's, Netflix, Service, Disney, Cisco, American Express, Nike, FedEx, Bloomberg, Motors, Ford Locations: China

☆ Jeff Bezos only lasted a few days as the world's richest person — now it's Bernard Arnault again
▼ + stars: | 2024-03-07 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Bernard Arnault is the CEO and founder of the luxury conglomerate LVMH. He currently has a fortune of $197 billion making him the world's richest person. The title often bounces between Arnault, Amazon founder Jeff Bezos, and Tesla CEO Elon Musk. AdvertisementBernard Arnault, CEO of LVMH, has once again become the world's richest person with a fortune of $197 billion, snagging the title from Jeff Bezos. As of Thursday, his fortune has been eclipsed by Arnault by only $1 billion, according to Bloomberg's Billionaire Index.

Persons: Bernard Arnault, Jeff Bezos, Elon Musk, — Organizations: Amazon, Tesla, Service, Arnault

☆ Elon Musk's wealth is down by almost $40 billion this year — and it's only March
▼ + stars: | 2024-03-07 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

The Tesla CEO's wealth has dropped by almost $40 billion since the start of 2024. The EV maker's sagging stock price has taken its toll on Musk's net worth. The Tesla CEO's net worth has plunged by almost $40 billion this year, according to the Bloomberg Billionaires Index. AdvertisementThe LVMH chief is worth $197 billion, $1 billion more than Bezos, after adding $18 billion to his worth this year. Most of Musk's wealth comes from his 21% stake in the EV maker.

Persons: Elon, —, Jeff Bezos, He's, Bernard Arnault, it's, Arnault, Musk Organizations: Service, Tesla, Bloomberg Locations: China, Delaware

☆ Jeff Bezos is once again the world's richest person thanks to the Big Tech rally
▼ + stars: | 2024-03-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Jeff Bezos just reclaimed his title as the world's richest person. AdvertisementIt's been more than two years since Amazon founder Jeff Bezos was the world's richest person, but he's now back in the lead again. Bezos reclaimed the top spot after a sustained rally in Big Tech shares on the back of the artificial intelligence boom. The last time Bezos was the world's richest person was in 2021. Bezos first surpassed Microsoft cofounder Bill Gates as the world's richest person in 2017.

Persons: Jeff Bezos, Elon Musk, —, It's, he's, Bezos, Musk, Bill Gates, Bernard Arnault, LVMH Moet Hennessy Louis Vuitton Organizations: Big Tech, Bloomberg, Service, Amazon, Bezos, Origin, Microsoft, EV maker's Locations: China

☆ Jeff Bezos surpasses Elon Musk to retake the world's richest person crown with a $200 billion fortune
▼ + stars: | 2024-03-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Jeff Bezos has surpassed Elon Musk to once again become the world's richest person. AdvertisementWith a $200 billion fortune, Amazon founder Jeff Bezos has surpassed Elon Musk to once again become the world's richest person. Musk has lost $31 billion in wealth so far this year to a total net worth of $198 billion as of Monday. Musk's wealth is derived from his $77 billion stake in Tesla, as well as his $71 billion stake in SpaceX. The top five richest person ranking is rounded out by Mark Zuckerberg, who has a $179 billion net worth, and Bill Gates, who has a $150 billion net worth.

Persons: Jeff Bezos, Elon Musk, Bezos, Musk, Bernard Arnault, Mark Zuckerberg, Bill Gates Organizations: Bloomberg, SpaceX, The Locations: Amazon

☆ Jeff Bezos dethrones Elon Musk to become the richest person on earth again
▼ + stars: | 2024-03-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Jeff Bezos has reclaimed the title of the richest person on earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday. The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index. The three centibillionaires — Musk, Arnault and Bezos — have been in competition with each other for the top spot for months. Of course, the title of the richest person on earth swaps every few months, depending on markets performance.

Persons: Jeff Bezos, Elon, Musk, Bezos, Bernard Arnault, Louis Vuitton, Dior, Celine, Arnault, Michelle Toh, Tami Luhby, Chris Isidore Organizations: New, New York CNN, Bloomberg Locations: New York, Delaware

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