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Bernard Arnault has nabbed the title as the highest-net worth individual in the world, a feat that has unseated billionaires Elon Musk and Jeff Bezos from their prior spots and that was fueled by the performance of the French luxury goods giant he helms.

Arnault’s top spot among the wealthiest in the world comes amid LVMH Moet Hennessy Louis Vuitton, the company he has run for decades as CEO, seeing notable growth in recent years. His and his family’s personal fortune — which includes an almost 50% ownership stake in LVMH — was estimated by Forbes in early April to be at $211 billion on its yearly list of the world’s richest people for 2023, compared to $158 billion the prior year.

LVMH SHUFFLES LEADERSHIP AT LOUIS VUITTON, DIOR

As of Tuesday afternoon, Arnault’s net worth was estimated to total $235.7 billion, according to Forbes’ real-time billionaires tracker. 

Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, executive vice president of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men’s Fashion Week in Paris on Jun (REUTERS/Charles Platiau/Files / Reuters Photos)

LVMH’s revenue in 2022 totaled 79.18 billion euros, marking a 23% increase from the 64.215 billion euros posted in the prior year. It reported generating 44.65 billion euros of revenue for 2020.

For group share of net profit, LVMH had a 17% rise year-over-year, going from 12.04 billion euros in 2021 to 14.04 billion in 2022. Its net profit in 2020 was 4.7 billion euros.

In its most recently reported quarter, the luxury goods giant had revenue of 21.03 billion euros, up from 18 billion in first-quarter 2022.

"Europe and Japan, which enjoyed strong growth momentum, benefited from robust demand from local customers and international travelers; the United States, a market which continues to grow, had a steady performance," the company said in its April quarterly earnings release. "Asia experienced a significant rebound following the lifting of health restrictions."

Shoppers wait in line to enter the Louis Vuitton store in Union Square in San Francisco on Dec. 6, 2021. (David Paul Morris/Bloomberg via Getty Images / Getty Images)

Over the past 12 months, the value of the LVMH’s stock has seen a nearly 41% jump, trading at roughly $193 on Tuesday afternoon. The company counts Louis Vuitton, Fendi, Christian Dior, Givenchy, Tag Heuer, Bulgari and Tiffany & Co. among its numerous brands. 

As Arnault’s position among the world’s richest rose, Musk, the CEO of Tesla, Twitter and SpaceX, and Bezos, the founder of e-commerce giant Amazon, both saw their net worths decrease by tens of billions of dollars, causing their rankings on Forbes’ 2023 Billionaires List to dip. 

BILLIONAIRES BEZOS, MUSK SLIDE IN FORBES WORLD'S RICHEST LIST

Musk and Bezos each experienced a one-spot drop, with the former taking second-place, at $180 billion, and the latter coming in third, at $114 billion, according to the outlet. On its real-time list, they sat in those same spots, with their net worths on Tuesday afternoon at $187.4 billion and $125.4 billion, respectively.

From left, Jeff Bezos, Bernard Arnault, and Elon Musk. (Annegret Hilse/SVEN SIMON Reuters | Nathan Laine/Bloomberg | Britta Pedersen-Pool)

Forbes noted Musk’s activity on Twitter and Tesla investors reacting to his purchase of the social media platform in connection to his fortune plunging $39 billion year-over-year. Meanwhile, Amazon has seen its share price go down over 30% in a one-year span, something that contributed to Bezos’ change in ranking.

LVMH .

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Arnault and Musk have been trading the "world's richest" title in recent months, as Tesla shares have fluctuated. The Musk-run electric vehicle and clean energy company has quarterly earnings slated for release on Wednesday.

Amazon will put out its latest financial results April 27.Ticker Security Last Change Change % LVMUY LVMH MOT HENNESSY LOUIS VUITTON SE 194.5 +1.23 +0.64%TSLA TESLA INC. 180.59 -3.72 -2.02%AMZN AMAZON.COM INC. 104.30 +2.00 +1.96%

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Sources: Vols moving on from QB Iamaleava

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Sources: Vols moving on from QB Iamaleava

Tennessee is moving on from starting quarterback Nico Iamaleava, sources told ESPN, in the wake of his decision to not attend practice on Friday amid NIL contract discussions with the school.

Tennessee coach Josh Heupel informed the team at meetings Saturday morning. Tennessee plays its spring game Saturday afternoon. Sources said Iamaleava missing practice Friday proved to be the tipping point.

The standoff between the two sides stemmed from Iamaleava’s contract, and the school decided to cut ties after those talks emerged publicly this week and Iamaleava subsequently skipped practice.

Iamaleava just completed his redshirt freshman season, which means he would have three seasons remaining at his next destination. The spring transfer portal opens Wednesday, and he is expected to be the most notable player available.

Iamaleava showed promise his first year as a starter, leading Tennessee to the College Football Playoff and a 10-3 season. He threw for 2,616 yards, 19 touchdowns and 5 interceptions. He completed 63.8% of his passes.

The Vols’ offense finished No. 9 in the 16-team SEC in scoring offense last year in league play, and he was the league’s No. 10 quarterback in passing yards per game (200.6).

The move puts both Tennessee and Iamaleava in difficult situations heading into the 2025 season. Iamaleava’s departure leaves Tennessee with just two scholarship quarterbacks, neither of whom has started a college game, so there are going to be inevitable additions.

One factor looming over both sides is that SEC rules prohibit transferring within the conference in the spring if the player desires immediate eligibility. That means Iamaleava can’t go to an SEC school and no quarterback on an SEC roster can go to Tennessee if they hope to play in 2025.

Per ESPN sources, officials from Tennessee’s collective have already begun reaching out to third parties tied to potential Iamaleava replacements for 2025.

With Iamaleava’s future uncertain, collective officials began to make calls Friday to see what the potential market could look like. One quarterback got more money from his school Friday after Tennessee’s collective called third-party officials tied to him, a source told ESPN.

This move puts redshirt freshman backup quarterback Jake Merklinger in the driver’s seat to be Tennessee’s starter next year. It’s difficult, though not impossible, for a college quarterback to come in, learn the offense and win the starting job in summer camp. True freshman George MacIntyre is the backup, and Tennessee has a top-10 recruit in the Class of 2026, Faizon Brandon, committed. He is a five-star who is ESPN’s No. 3 overall quarterback.

The market for Iamaleava will be a fascinating one, especially if he’s seeking the same amount of money (in the mid-$2 million range). While there is available money in the system the next few months before the era of revenue share is codified, it’s difficult for a program to bring in a quarterback transfer with high-priced NIL demands in the late spring portal.

It not only is potentially disruptive for the current quarterback room, but it also could disrupt the locker room. Also, many schools have their quarterback salaries structured for 2025.

The move to cut ties with Iamaleava has unfolded as classic tale of modern college football, as Iamaleava arrived at the school with a historic contract reported to be worth more than $8 million over the life of the deal.

He now leaves both Tennessee’s quarterback room and his own future shrouded in uncertainty.

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QB Sullivan enters portal after 1 season at Iowa

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QB Sullivan enters portal after 1 season at Iowa

Quarterback Brendan Sullivan, who started games midway through the 2024 season for Iowa, entered the transfer portal Friday.

In a social media post, Sullivan said he “loved and enjoyed every second” he spent with the Hawkeyes but opted to enter the portal in his “best interest.”

Sullivan, who transferred to Iowa from Northwestern last spring, took over for Cade McNamara midway through a game against his former team and then started the next two games against Wisconsin and UCLA. After missing two games with an ankle injury, he returned to start the Hawkeyes’ 27-24 loss to Missouri in the Music City Bowl.

In January, Iowa added quarterback transfer Mark Gronowski, who won 49 games and an FCS national title at South Dakota State. Gronowski underwent offseason shoulder surgery and has not participated in the Hawkeyes’ spring practices. He told reporters Thursday that he’s ahead of schedule in his recovery and has started to throw passes with the goal of being 100% by June 1.

Iowa also added Hank Brown, a transfer from Auburn who made two starts in 2024.

A native of Davison, Michigan, Sullivan completed 38 of 53 passes for 475 yards with three touchdowns and three interceptions, while adding 150 rushing yards and four touchdowns for the Hawkeyes. He started games for Northwestern in both the 2022 and 2023 seasons, recording 10 touchdowns and five interceptions, but transferred after falling behind Jack Lausch on the spring depth chart.

Sullivan redshirted in 2021 and has one year of eligibility left.

“Someone is gonna get a great dude and a hell of a competitor in Sully!” Iowa general manager Tyler Barnes posted on X.

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Hall of Fame DE Freeney joining Syracuse staff

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Hall of Fame DE Freeney joining Syracuse staff

Pro Football Hall of Famer and Syracuse alum Dwight Freeney has joined the Orange staff in player development, the school announced Friday.

Freeney played defensive end at Syracuse from 1998 to 2001, totaling 34 sacks before becoming a first-round pick of the Indianapolis Colts in 2002. He spent 16 seasons in the NFL, becoming one of the greatest pass rushers of all time.

In 2024, Freeney was inducted into the Hall of Fame. He had his No. 54 jersey retired at Syracuse later that same year.

“The time is now,” Freeney said in a statement. “I think that Syracuse has a lot of good things going. A great foundation and I think they need a push to be able to maintain and exceed that — that is what I hope I’m able to do. My schedule is now a lot freer than it has been in years past, so I’ll be able to help however is needed and in whatever way I can.”

Syracuse went 10-3 last year in the first season under coach Fran Brown.

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