According to the Forbes Real Time Billionaire List on Sunday, the French tycoon and his family were worth $207.6 billion, while Musk was valued at $204.7 billion.

Bernard Arnault, the creator, chairman, and CEO of the international luxury goods company LVMH (Louis Vitton), has surpassed Elon Musk to become the world’s richest person.

The magazine claims that the Arnault family’s wealth increased by $23.6 billion on Friday to reach $207.8 billion.

In contrast, Musk’s wealth had decreased by over $18 billion to $204.5 billion.

With a net worth of $104.4 billion, Reliance Industries Limited (RIL) chairman Mukesh Ambani is the richest person outside of the top 10 and the wealthiest Asian.