Bernard Arnault, French businessman and chairman of luxury accessories brand Louis Vuitton Moet Hennessy, became the world’s richest person on Friday as he surpassed Amazon founder Jeff Bezos in wealth, according to the Forbes real-time billionaires list.

According to the list, the total wealth of 72-year-old Arnault and his family stood at $200.3 billion (Rs 14.84 lakh crore), while Bezos’ total assets were worth $194.9 billion (Rs 14.44 lakh crore). The billionaires list is a dynamic one as total assets of those on it change based on fluctuations in the share price of their companies.

Arnault’s Louis Vuitton Moet Hennessy oversees an empire of 70 brands including Louis Vuitton, Sephora, Tiffany & Co, Stella McCartney, Gucci, Christian Dior and Givenchy.

Arnault’s net worth jumped sharply after Louis Vuitton completed a deal with American jeweller Tiffany in January for $15.8 billion (Rs 1.1 lakh crore). The deal is believed to be the biggest luxury brand acquisition ever, according to Arnault’s bio on the Forbes list.

Tesla founder Elon Musk holds the third spot on the Forbes list with $185.5 billion (Rs 13.75 lakh crore). He had bagged the top position in the billionaire’s list earlier this year.

Microsoft co-founder Bill Gates, Facebook Chief Executive Officer Mark Zuckerberg, Google’s Larry Page and Sergey Brin, Larry Ellison, Warren Buffett, and Francoise Bettencourt Meyers are among the top 10 on the list.