French fashion industry executive Bernard Arnault has become the world’s richest person on Forbes’ 2023 billionaires list, with a net worth of $211 billion. Arnault has surpassed Tesla founder Elon Musk and Twitter CEO Jack Dorsey to claim the top spot.

French fashion industry executive Bernard Arnault has overtaken Tesla founder Elon Musk and Twitter CEO Jack Dorsey to become the world’s richest person on Forbes’ 2023 billionaires list, with a net worth of $211 billion.

Arnault, who is 74 years old and oversees a portfolio of over 70 luxury brands, including Louis Vuitton, Christian Dior, Givenchy, Tiffany’s, Marc Jacobs, Sephora, and Fenty Beauty, added an impressive $53 billion to his fortune over the past year.

He has been the head of LVMH for approximately three decades and helped grow the company’s revenue from $4 billion in 1989 to $86 billion last year, according to Forbes.

The billionaire first made the list in 1997, when he was worth $3.1 billion, and rose through the ranks until he hit the top five richest people in 2011.