Jeff Bezos No Longer Richest Man in the World
French tycoon Bernard Arnault was able to secure the top spot when Bezos' worth fell.
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.
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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
