Bernard Arnault, Chief Executive Officer of French luxury conglomerate LVMH, claimed the title of the richest man on Earth with a net worth of $186.2 billion, according to Forbes, toppling Amazon CEO Jeff Bezos as world's richest man.
According to Forbes' Real Time Billionaire rankings on Monday, Arnault finished the day with $186.3 billion to his name, compared with Bezos' $186 billion billion, a whopping $300 million above the latter.
Arnault also remains firmly ahead of Tesla and SpaceX CEO Elon Musk who is worth $147.3 billion, Forbes added.
Meanwhile, a study by Comparisun, a company which helps organisations compare different business products, earlier this month had said that despite losing an estimated $38 billion as part of his recent divorce, Bezos is still by far the world's richest person and his net worth has grown by 34 per cent on average over the last five years.
The study further added that the Amazon founder could potentially become the worlds first trillionaire as early as 2026, at which point he will be aged 62.
For the study, Comparisun analysed the market capitalisation of the 25 highest valued companies on the New York Stock Exchange according to Macrotrends, as well as the net worth of the richest 25 people in the world, according to Forbes, in both cases taking the last five years of data.