Forbes magazine has presented its annual ranking of the world’s richest people. Bernard Arnault, president of the LVMH (Louis Vuitton Mo√ęt Hennessy) group, tops the list. The magazine valued the businessman’s fortune at $211 billion. Over the past 12 months, Arnault’s fortune increased by $53 billion. Previously, the leader of the list was the founder of Tesla and SpaceX, Elon Musk. He is now in second place with a fortune of $180 billion.

Bernard Arnault (Photo by Pascal Le Segretain/Getty Images for Dior)

Amazon founder Jeff Bezos is in third place with a fortune of $114 billion. Larry Ellison, Warren Buffett, Bill Gates, Michael Bloomberg, Carlos Slim Elu, Mukesh Ambani and Steve Ballmer are also in the top ten.