Sawt Falasteen - Elon Musk briefly loses top spot on Forbes billionaire list

NYSE - LSE

RIO	-0.86%	83.42	$
RYCEF	-11.47%	15.26	$
BTI	-1.66%	59.48	$
RBGPF	3.6%	72.77	$
NGG	-0.95%	81.86	$
CMSC	0%	19.6	$
GSK	-0.91%	50.75	$
BCE	-2.01%	20.4	$
CMSD	0.91%	19.78	$
RELX	-0.2%	40.54	$
BCC	-0.71%	77.74	$
VOD	-2.41%	15.74	$
BP	2.47%	51.32	$
AZN	-0.63%	171.49	$
JRI	0.65%	10.75	$

Elon Musk briefly loses top spot on Forbes billionaire list / Photo: Theo Wargo, JOEL SAGET - GETTY IMAGES NORTH AMERICA/AFP/File

Elon Musk briefly loses top spot on Forbes billionaire list

ECONOMY 07.12.2022

Tesla-owner Elon Musk briefly lost the top spot on Forbes' billionaire list on Wednesday to Bernard Arnault, whose family owns the world's leading luxury group, LVMH.

Text size:

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 in 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.

Z.AbuSaud--SF-PST

Sawt Falasteen - Elon Musk briefly loses top spot on Forbes billionaire list

Elon Musk briefly loses top spot on Forbes billionaire list

Featured

جمارك دبي تنجز 1.36 مليون طلب لاسترداد التأمينات في ستة أشهر

حرة مطار الشارقة تجذب استثمارات دولية جديدة في الصناعات الغذائية

المصرف المركزي الإماراتي يعرض في بانكوك مسيرة الريادة المالية والشراكات

الزيودي: صادرات الإمارات إلى بنين مرشحة لبلوغ مليار دولار بحلول 2033