Jeff Bezos No Longer Richest Man in the World

French tycoon Bernard Arnault was able to secure the top spot when Bezos' worth fell
By Entrepreneur
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August 4, 2021 Updated: August 4, 2021
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By Entrepreneur Staff

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 percent 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.

Related: Jeff Bezos is Willing to Cover $2 Billion in Fees For NASA Program

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

Entrepreneur
Entrepreneur
Empowering People in the Business of Changing the World | Entrepreneur® is dedicated to fueling the world’s visionary leaders compelled to make a difference through their innovative ideas, businesses, and points of view.