Bernard Arnault becomes world’s richest man

• According to Forbes real-time billionaires list the Chief Executive and Chairman of LVMH Moet Hennessy Louis Vuitton Bernard Arnault is now the richest man in the world.

• 72-year-old Mr. Arnault is said to oversee an empire of 70 brands including Sephora and Louis Vuitton.

• According to the Forbes list Mr. Arnault is worth $198.2 billion.

• Jeff Bezos, who was earlier the richest man and worth $194.9 billion is now in the second spot of the list.

• The third spot is taken by the CEO of Tesla, Elon Musk worth $185.5 billion.