Bernard Arnault Drops Out of World’s Top Ten Fortunes

Bernard Arnault is the leader of a large luxury company called LVMH.

His personal wealth fell to about $143 billion.

That pushed him out of the world’s top 10 richest people.

Elon Musk is now first on the list with about $918.8 billion.

The other top spots are held by Americans, many of whom made their money in technology.

LVMH has faced weaker demand in China and difficulties connected to the war in the Middle East.

The company also faces questions about who will lead it after Arnault.

All five of Arnault’s children work at the company, but he has not said who will replace him as chief executive.