Jeff Bezos No Longer Richest Man in the World
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Jeff Bezos No Longer Richest Man in the World
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Amazon and Blue Origin founder Jeff Bezos is no longer the richest man in the world -- and not just because he’s invested in spending more time off the planet.
His net worth tumbled $13.9 billion in one day when Amazon’s stock price fell 7% last week after the company reported second-quarter growth that was below forecasts.
French tycoon Bernard Arnault was able to secure the top spot when Bezos’ worth fell.
Related: Jeff Bezos is Willing to Cover $2 Billion in Fees For NASA Program
Arnault oversees luxury goods conglomerate LVMH, which includes Louis Vuitton, Sephora, Tiffany & Co., and Moët & Chandon.
As of Monday, according to MarketWatch, Arnault’s net worth was priced at $195.8 billion and Bezos’ was at $192.6 billion.
Notably, Bezos broke records last year when he became the first person to ever be worth $200 billion.
LVMH shares fell on Friday, too, causing Arnault to lose $2.9 billion, but he still came out on top of Bezos.
Related: Jeff Bezos Isn't Actually an Astronaut, According to the FAA
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