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.
Indian businessman Gautam Adani was in third place at $134.8 billion, with Amazon founder Jeff Bezos fourth at $111.3 billion.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.
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