Medical aesthetic products. LVMH CEO Bernaud Arnault pips Elon Musk to take the title of world’s richest person

THE WHAT? LVMH Chief Executive Bernaud Arnault has taken the title of world’s richest person, overtaking billionaire Elon Musk, which saw further drops in the share values of his electric car company Tesla, according to the Guardian. 

THE DETAILS Forbes and Bloomberg track the wealth of billionaires, reporting that fresh falls in Tesla’s share price at the start of the week wiped off approximately US$7 billion from Musk’s fortune.

This saw Musk have a wealth of around US$177 billion as opposed to Arnault’s US$188 billion.        

THE WHY? Tesla’s fall is said to be due to a variety of factors, including disappointing quarterly results, disruption at a factory in Shanghai, and investor concern about Musk’s other ventures including Twitter, as well as his controversial Tweets.      

Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.

Examples of medical aesthetic products include:

• Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.

• Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.

• Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.

• Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.

• Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.

• Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.

• Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.