Bernard Arnault Surpasses Mark Zuckerberg as Third-Richest Person in the World

Bernard Arnault, the chairman and CEO of luxury goods conglomerate LVMH, has overtaken Meta founder Mark Zuckerberg to become the third-richest person globally. This shift comes as LVMH's shares have experienced a notable increase, rising by 2.6% to over $675, which has significantly boosted Arnault's net worth. In contrast, Meta's shares have seen a slight decline of 0.1%. Currently, Arnault trails only Amazon founder Jeff Bezos, who holds an estimated net worth of $195.7 billion, and Elon Musk, the world's wealthiest individual with a net worth of $247.4 billion. The fluctuations among the top billionaires have been frequent, with Arnault and Musk exchanging positions as the third and fourth richest multiple times in recent weeks. Earlier this year, Arnault briefly held the title of the world's richest person before Musk surpassed him. The billionaire rankings have been dynamic, reflecting the volatile nature of the stock market and the performance of major companies. Notably, Meta has also seen a significant rise in its stock value this year, following a 73% increase in second-quarter profits. As the competition among the world's wealthiest individuals continues to evolve, the latest changes in rankings highlight the ongoing impact of market trends on billionaire fortunes.