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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.

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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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M’s punch ALCS ticket in 15-inning instant classic

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M's punch ALCS ticket in 15-inning instant classic

SEATTLE — Jorge Polanco hit a game-ending single in the 15th inning, and the Seattle Mariners advanced to the American League Championship Series by outlasting the Detroit Tigers for a 3-2 victory Friday night.

At 4 hours, 58 minutes, it was the longest winner-take-all postseason game in baseball history and featured 15 pitchers — eight for the Mariners and seven for the Tigers.

With one out and the bases loaded, Polanco drove in J.P. Crawford with a liner to right off Tommy Kahnle. Crawford hit a leadoff single, Randy Arozarena was hit by a pitch and Julio Rodriguez was intentionally walked before Polanco’s big swing on the 472nd pitch of an epic Game 5 in a tightly contested division series.

The Mariners left 12 runners on base and still advanced to the ALCS for the first time since 2001. Next up is a matchup with the AL East champion Blue Jays, beginning Sunday night in Toronto.

“We never give up,” Polanco said. “We just keep fighting. It doesn’t matter how many innings we play. We just stay ready and wait for the moment. It’s going to come. It was my time.”

Luis Castillo pitched 1⅓ innings for the win in his first major league relief appearance. Logan Gilbert, another member of Seattle’s rotation, worked two scoreless innings in his first relief outing since his college days at Stetson University in 2017.

“It was such a tough night,” Seattle catcher Cal Raleigh said. “Everyone put their other stuff aside and did everything for the team, including Logan and Luis.”

Detroit wasted a stellar performance by Tarik Skubal, who struck out 13 while pitching six innings of one-run ball. The Tigers went 1-for-9 with runners in scoring position and left 10 on base.

“We had an incredible game today that — unfortunately, somebody had to lose, and that somebody was us, and it hurts,” manager A.J. Hinch said.

Kerry Carpenter put Detroit in front when he hit a two-run homer off Gabe Speier in the sixth inning. Carpenter had four hits and walked twice, becoming the first player to reach five times and hit a home run in a winner-take-all postseason game since Babe Ruth in 1926.

The Mariners tied it at 2 on Leo Rivas‘ pinch-hit single off Tyler Holton in the seventh. Rivas celebrated his 28th birthday with his first postseason hit.

“He was up to the task tonight,” Seattle manager Dan Wilson said. “It was a huge hit.”

Friday’s win was the Mariners’ first series-clinching victory in extra innings since Game 5 of the 1995 ALDS, a 6-5 victory in 11 innings over the Yankees.

The Associated Press and ESPN Research contributed to this report.

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Donald Trump threatens to impose additional 100% tariff on ‘extraordinarily aggressive’ China

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Donald Trump threatens to impose additional 100% tariff on 'extraordinarily aggressive' China

Donald Trump has announced the US will impose an additional 100% tariff on China imports, accusing it of taking an “extraordinarily aggressive position” on trade.

In a post to his Truth Social platform on Friday, the US president said Beijing had sent an “extremely hostile letter to the world” and imposed “large-scale export controls on virtually every product they make”.

Mr Trump, who warned the additional tariffs would start on 1 November, said the US would also impose export controls on all critical software to China.

The president added that he was imposing the tariffs because of export controls placed on rare earths by China.

He wrote: “Based on the fact that China has taken this unprecedented position, and speaking only for the USA, and not other nations who were similarly threatened, starting November 1st, 2025 (or sooner, depending on any further actions or changes taken by China), the United States of America will impose a tariff of 100% on China, over and above any tariff that they are currently paying.

“It is impossible to believe that China would have taken such an action, but they have, and the rest is history. Thank you for your attention to this matter!”

President Trump says he sees no reason to see President Xi as part of a trip to South Korea. Pic: Reuters
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President Trump says he sees no reason to see President Xi as part of a trip to South Korea. Pic: Reuters

Mr Trump said earlier on Friday that there “seems to be no reason” to meet with Chinese leader Xi Jinping in a scheduled meeting as part of an upcoming trip to South Korea at the end of this month.

He had posted: “I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems no reason to do so.”

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The trip was scheduled to include a stop in Malaysia, which is hosting the Association of Southeast Asian Nations summit, a stop in Japan and then the stop to South Korea, where Mr Trump would meet Mr Xi ahead of the Asia-Pacific Economic Cooperation summit.

Mr Trump added: “There are many other countermeasures that are, likewise, under serious consideration.”

The move signalled the biggest rupture in relations in six months between Beijing and Washington – the world’s biggest factory and its biggest consumer.

It also threatens to escalate tensions between the two countries, prompting fears over the stability of the global economy.

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Sky’s Siobhan Robbins explains why Donald Trump didn’t receive the Nobel Peace Prize

Friday was Wall Street’s worst day since April, with the S&P 500 falling 2.7%, owing to fears about US-China relations.

China had restricted the access to rare earths ahead of the meeting between Presidents Trump and Xi.

Under the restrictions, Beijing would require foreign companies to get special approval for shipping the metallic elements abroad.

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Hamas official thanks Donald Trump for ceasefire deal – but tells Sky News Tony Blair not welcome

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Hamas official thanks Donald Trump for ceasefire deal - but tells Sky News Tony Blair not welcome

A senior Hamas official has thanked President Donald Trump for his role in securing a ceasefire deal between Israel and Hamas.

In an exclusive interview with Sky News’ lead world news presenter Yalda Hakim, senior Hamas official Dr Basem Naim also warned that former UK Prime Minister Sir Tony Blair would not be welcome in any post-war role for Gaza.

Latest updates: Palestinians head back north – as Israel pulls troops back

Israel and Hamas have agreed to a first phase of a peace deal brokered by the US president, with a ceasefire taking effect on Friday.

Dr Naim said the ceasefire would not have been possible without President Trump, but insisted he needed to continue to apply pressure to Israel to stick to the agreement.

He added that Hamas would be willing to step aside for a Palestinian body to govern a post-war Gaza, but that they would remain “on the ground” and would not be disarmed.

Dr Naim said in the interview: “Without the personal interference of President Trump in this case, I don’t think that it would have happened to have reached the end of the war.

More on Gaza

“Therefore, yes, we thank President Trump and his personal efforts to interfere and to pressure Israel to bring an end to this massacre and slaughtering.”

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He added: “We believe and we hope that President Trump will continue to interfere personally and to exercise the maximum pressure on [Israeli Prime Minister Benjamin] Netanyahu to fulfil its obligation.

“First, as according to the deal, and second, according to the international law as an occupying power, because I think without this pressure, without this personal interference from President Trump, this will not happen.

“We have already seen Netanyahu speaking to the media, threatening to go to war again if this doesn’t happen, if that doesn’t happen.”

Donald Trump has been thanked for his role in securing a peace deal in Gaza. Pic: AP
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Donald Trump has been thanked for his role in securing a peace deal in Gaza. Pic: AP

Questions remain over the next phases of the peace plan, including who will govern Gaza as Israeli troops gradually pull back and whether Hamas will disarm – as called for in Mr Trump’s ceasefire plan.

Mr Netanyahu has hinted that Israel might renew its offensive if Hamas does not give up its weapons.

However, Dr Naim said Hamas would not completely disarm and that weapons would only be handed over to the Palestinian state, with fighters integrated into the Palestinian National Army.

“No one has the right to deny us the right to resist the occupation of armies,” he said.

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Thousands of Gazans are heading north as Israeli troops pull back.

On future governance, Dr Naim criticised plans for Sir Tony to play any role in overseeing the future of Gaza, saying that Hamas and Palestinians were angered by his role in previous wars in Afghanistan and Iraq.

Dr Naim added: “When it comes to Tony Blair, unfortunately, we Palestinians, Arabs and Muslims and maybe others around the world have bad memories of him.

“We can still remember his role in killing, causing thousands or millions of deaths to innocent civilians in Afghanistan and Iraq.

“We can still remember him very well after destroying Iraq and Afghanistan.”

Under Mr Trump’s plans, Sir Tony would form part of an international supervisory body.

The international body, the Council of Peace or Board of Peace, would govern under plans approved by Mr Netanyahu.

Read more:
How withdrawal of Israeli troops in Gaza could work
Could the Gaza deal lead to something even bigger?

The body would hold most power while overseeing the administration of Palestinian technocrats running day-to-day affairs.

It would also hold the commanding role of directing reconstruction in Gaza.

Sir Tony Blair has been told he would not be welcome in a post-war Gaza. Pic: PA
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Sir Tony Blair has been told he would not be welcome in a post-war Gaza. Pic: PA

Dr Naim added that Hamas was satisfied Mr Trump’s plan would achieve peace in Gaza.

But he said it could never be fully satisfied after accusing Israel of genocide.

Israel has continually denied this, claiming it has been fighting Hamas terrorists to defend itself following the October 7 massacre in 2023.

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