The world’s richest man is Bernard Arnold, with a net worth of $278 billion

LVMH owner Bernard Arnault has become the world’s richest man with a net worth of US$210 billion (Sh278 billion).

The Bloomberg Billionaires Index, which lists the richest people, reported it.

His net worth increased by $12 billion in just one day yesterday.

In second place is Tesla and Twitter CEO Elon Musk’s net worth is around USD 180 billion.

LVMH manufactures Louis Vuitton luxury handbags, Moet & Chandon wines, and Christian Dior clothing.

The company’s shares rose 5.7 percent on the Paris Stock Exchange yesterday, giving it a market capitalization of $556 billion.

Mr. Arnault’s family owns 48 percent of LVMH.