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Forbes Names Arnault Richest Person Globally With $233bn

..Dangote emerges 144th

French billionaire and Chairman/CEO of LVMH Moët Hennessy – Louis Vuitton, the world’s leading luxury products group, Bernard Arnault & Family, has been named the world’s richest person by Forbes.

Arnault, who oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora, tops the list that places electric vehicle manufacturer, Elon Musk, in second position with $195 billion and Executive Chairman, Amazon, Jeff Bezos, in third position with $194 billion.

According to Forbes, Africa’s richest man, Aliko Dangote, came a distant 144th on the list with $13.4 billion.

Describing 2024 as a record year for 10-figure wealth that has left the billionaire class bigger and richer than ever, Forbes said the planet’s billionaires’ fortunes continue to swell as global stock markets shrug off war, political unrest and lingering inflation.

“There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021.

“They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021.

“Two-thirds of the list’s members are worth more than a year ago; only one fourth are poorer. Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7 trillion.

China remains second, with 473 (including Hong Kong) worth $1.7 trillion, despite weak consumer spending and a real estate bust that helped wipe out $200 billion in wealth and knocked 89 billionaires from the ranks. India, which has 200 billionaires (also a record), ranks third.

“To calculate net worths, we used stock prices and exchange rates from March 8, 2024. See below for the full list of the world’s billionaires and our methodology. For daily updated net worths of all 2,781 billionaires,” Forbes said.

Also ranked are technology giant and owner of Meta, Mark Zuckerberg with $177 billion, Larry Ellison, $141 billion, Warren Buffett, $133 billion,
Bill Gates, $128 billion, Steve Ballmer, $121 billion, and Mukesh Ambani with $116 billion, among.

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