Elon Musk briefly loses top spot on Forbes billionaire list
Donate
PARIS, FRANCE — Tesla owner Elon Musk briefly lost the top spot on Forbes’ billionaire list Wednesday to Bernard Arnault, whose family owns the world’s leading luxury group, LVMH.
With US tech stocks sliding as interest rates and recession fears rise, Musk’s fortune briefly fell below that of the Arnault family.
But around 1730 GMT Musk was back on top at $184.9 billion, followed by Arnault and his family at $184.7 billion.
Indian businessman Gautam Adani was in third place at $134.8 billion, with Amazon founder Jeff Bezos fourth at $111.3 billion.
Arnault had also topped the Forbes list for several hours in 2021.
His LVMH group, with includes dozens of brands including Louis Vuitton, Givenchy, and Kenzo, has continued to post strong revenue and profit growth despite the latest global economic headwinds.
Musk’s fortune is primarily tied to the share price of Tesla, and the entrepreneur has been at the centre of controversy after having taken over Twitter in late October.
The other major wealth ranking compiled by financial data provider Bloomberg also has Musk and Arnault running nearly neck-and-neck.
According to Bloomberg’s ranking, calculated after US markets closed on Tuesday, had Musk in the lead at $178.9 billion, followed by Arnault at $165.1 billion.
- bio
- latest posts
Executives Talk
THEIR LIFE THEIR STORY
EDITOR'S PICK
Most Popular
DAY
-
Mixed results at P&G as consumers adapt to higher prices - French bakers protest over surging power prices
- Tesla slashes vehicle prices up to 20% in US, Europe
- For die-hard fans, comeback kid Trump can do no wrong
- World food prices hit record high in 2022
- I. Coast, Ghana ease tug-of-war with buyers over cocoa prices
WEEK
- Biden invites Americans to sponsor refugees as admissions languish
- Mixed results at P&G as consumers adapt to higher prices
- From tanks to subsidies: the main topics at Davos
- Mayor Adams Launches ‘Breaking Bread, Building Bonds’ Citywide To Combat Rising Hate
- Mayor Garcetti celebrates $60 million for climate projects in South Los Angeles
- French bakers protest over surging power prices
MONTH
- Five things to watch at CES tech megashow
- Occultist accused of homeless voter scheme in California mayor bid
- Twitter to Label Tweets by Leaders Who Break Its Rules
- Turkey bans import of polymer waste
- Miami, looking to be next crypto hotspot, hosts huge bitcoin event
- To pay or not to pay? The dilemma for ransomware victims
POST YOUR COMMENTS
MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.