Bernard Arnault, the chairman and CEO of luxury group LVMH, has surpassed Elon Musk to become the richest person in the world, according to Forbes. Arnault's net worth rose to $207.6 billion on Friday, passing Musk's net worth of $204.7 billion after the Tesla CEO lost over $18 billion. The two billionaires have been engaged in a wealth tug-of-war, with Arnault previously topping the list in late 2022. LVMH's market cap reached $388.8 billion compared to Tesla's $586.14 billion, boosting Arnault's fortune.