The back-and-forth for the title of the richest person in the world between Amazon founder Jeff Bezos and LVMH chief Bernard Arnault has taken another turn: For the third time this week, Arnault has overtaken Bezos forthe No. 1 spot, with an estimated net worth of $190.1 billion, compared to Bezos’ $188.5 billion as of 12:45 pm ET.
Arnault’s fortune grew by $1.8 billion overnight after LVMH shares closed 1% higher on Thursday in Europe. Amazon shares were trading less than 1% lower at 12:45 pm ET, translating to a nearly $700 million decline in Jeff Bezos’ net worth. Since the beginning of the week, the two men have collectively gotten nearly $7 billion richer.
On Monday morning, Arnault started the week as the richest person on the planet, with $186.3 billion—just $300 million more than Bezos—but Amazon shares picked up after markets opened in New York, and Bezos regained the title within a few hours. The same thing happened on Tuesday: Arnault started the day richer than Bezos, until the Amazon boss quickly retook the lead. It’s a familiar pattern by now: On at least two other occasions since 2019, Arnault has briefly been richer than Bezos before ultimately falling again by the time the markets closed. – Forbes