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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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UK

Gallagher brothers share a high-five and hug as Oasis reunite on stage after 16 years

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Gallagher brothers share a high-five and hug as Oasis reunite on stage after 16 years

Oasis have reunited on stage for the first time in almost 16 years – with brothers Liam and Noel Gallagher sharing a high five and the briefest of hugs as they closed a performance that for fans was more than worth the wait.

After the split in 2009, for many years Noel said he would never go back – and for a long time, as the brothers exchanged insults through separate interviews (and on social media, for Liam), it seemed pretty unlikely to ever happen.

But now, here they are. As they walked out on stage at Cardiff’s Principality Stadium, all eyes were on the Gallaghers for a sense of their relationship – dare we say it, friendship? – now after all these years.

There was no reference to their fall-out or making up, but the gestures were there – lifting hands together as they walked out for the first time.

The headline "OASIS REUNITED" was shown on stage at the gig. Pic: PA
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The headline “OASIS REUNITED” was shown on stage at the gig. Pic: PA

Fans at the Oasis gig. Pic: PA
Image:
Fans at the Oasis gig. Pic: PA

Headlines and tweets of speculation and then confirmation of the reunion filled the screens as the show started. “This is happening,” said one, repeatedly.

In the end, it was all about the music.

Liam has received criticism in the past for his voice not being what it once was during his solo or Beady Eye performances, but back on stage with his brother tonight he delivered exactly what fans would have hoped for – a raw, steely-eyed performance, snarling vocals, and the swagger that makes him arguably the greatest frontman of his day.

More on Oasis

This was Oasis sounding almost as good as they ever have.

Fans sang along and held up their phones to film as Oasis performed. Pic: PA
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Fans sang along and held up their phones to film as Oasis performed. Pic: PA

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Oasis: ‘It’s good to be back’

They opened with Hello, because of course, “it’s good to be back”. And then Acquiesce, and those lyrics: “Because we need each other/ We believe in one another.”

The song is said to be about friendship in the wider sense, rather than their brotherly bond and sibling rivalry, but you can’t help but feel like it means something here.

Over two hours, they played favourite after favourite – including Morning Glory, Some Might Say, Cigarettes & Alcohol, Supersonic and Roll With It.

Liam Gallagher as Oasis takes to the stage in Cardiff. Pic: PA
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Liam Gallagher as Oasis takes to the stage in Cardiff. Pic: PA

In the mid-section, Liam takes his break for Noel to sing Talk Tonight, Half The World Away and Little By Little; the tempo slows but there is by no means a lull, with the fans singing all his words back to him.

Liam returns for hits including Stand By Me, Slide Away, Whatever and Live Forever, before sending the crowd wild (or even wilder) with Rock And Roll Star.

Noel Gallagher performing on stage. Pic: PA
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Noel Gallagher performing on stage. Pic: PA

An Oasis fan is pointing at the stage during the gig. Pic: PA
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An Oasis fan is pointing at the stage during the gig. Pic: PA

When the reunion announcement was made last summer, it quickly became overshadowed by the controversy of dynamic pricing causing prices to rocket. As he has done on X before, Liam addressed the issue on stage with a joke.

“Was it worth the £4,000 you paid for the ticket?” he shouted at one point. “Yeah,” the crowd shouts back; seemingly all is forgiven.

After Rock And Roll Star, the dream that very quickly became a reality for this band, Noel introduced the rest of the group, calling Bonehead a “legend”.

Paul 'Bonehead' Arthurs of Oasis. Pic: PA
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Paul ‘Bonehead’ Arthurs of Oasis. Pic: PA

Liam Gallagher carried a tambourine in his mouth during the concert. Pic: PA
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Liam Gallagher carried a tambourine in his mouth during the concert. Pic: PA

Then he acknowledges all their young fans, some who maybe weren’t even born when they split. “This one is for all the people in their 20s who’ve never seen us before, who’ve kept this shit going,” he says before the encore starts with The Masterplan.

Noel follows with Don’t Look Back In Anger, and the screens fill with Manchester bees in reference to the arena bombing and how the song became the sound of hope and defiance for the city afterwards.

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‘I’d have paid £10,000 to see them’

Two fans sat on their friends' shoulders as Oasis performed. Pic: PA
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Two fans sat on their friends’ shoulders as Oasis performed. Pic: PA

During Wonderwall, there’s a nice touch as Liam sings to the crowd: “There are many things I would like to say to you, but I don’t speak Welsh.”

It is at the end of Champagne Supernova, which closes the set, that it happens; Noel puts down his guitar, and they come together for a high-five and a back-slap, a blink-and-you’d miss it hug.

Read more:
What you need to know about the Oasis tour
Liam Gallagher hits out at council after fans branded ‘rowdy’

“Right then, beautiful people, this is it,” Liam had told the crowd as he introduced the song just a few minutes earlier. “Nice one for putting up with us over the years.”

From the roar of the audience, it’s safe to say most people here would agree it’s been worth it.

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Politics

Sweden’s justice minister says to ‘turn up the pressure’ on crypto seizures

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Sweden’s justice minister says to ‘turn up the pressure’ on crypto seizures

Sweden’s justice minister says to ‘turn up the pressure’ on crypto seizures

Gunnar Strömmer reportedly said that Swedish authorities had confiscated more than $8.3 million worth of criminal profits since a law related to seizures was passed in 2024.

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US

At least 13 people confirmed dead and more than 20 missing from girls camp in Texas flooding

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At least 13 people confirmed dead and more than 20 missing from girls camp in Texas flooding

13 people have been killed in the US state of Texas after heavy rain caused flash flooding, according to local media reports.

Officials have also said more than 20 are missing from a girls’ camp in Texas.

As much as 10 inches (25 centimetres) of heavy rain fell in just a few hours overnight in central Kerr County, causing flash flooding of the Guadalupe River.

Judge Rob Kelly, the chief elected official in the county, confirmed fatalities from the flooding and dozens of water rescues so far.

A flood watch issued on Thursday afternoon estimated isolated amounts up to seven inches (17 centimetres) of rising water.

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