Elon Musk briefly loses top spot on Forbes billionaire list

Arnault (right) and his family topped the Forbes list of the world’s richest people on Dec 7, 2022, with US$185.1bil, unseating Musk, head of Tesla, SpaceX and Twitter. — AFP

PARIS: Tesla owner Elon Musk briefly lost the top spot on Forbes’ billionaire list on Dec 7 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.