Bernard Arnault, the owner of the French group LVMH, topped Elon Musk’s list of billionaires in Forbes last Wednesday. Musk, the owner of Tesla, narrowly trailed the Arnault family as US tech stocks tumbled amid rising interest rates and fears of a recession. But a day later, Musk returned to his position.
After regaining position, Musk’s net worth stands at $184.9 billion. On the other hand, Barnard Arnault and his family, who are in the second position, are worth 184.7 billion dollars.
Apart from this, Indian businessman Gautam Adani in the third position has a wealth of $134.8 billion and Amazon founder Jeff Bezos has a wealth of $111.3 billion in the fourth position.
Bernard Arnault topped the Forbes list for a time in 2021. His LVMH Group owns several popular brands. Louis Vuitton, Givenchy and Kenzo are among them. LVMH continues to post strong revenue and profit growth despite the recent global economic turmoil.
Musk’s fortunes hang on Tesla’s share price and he was embroiled in a controversy over Twitter’s dominance last October. He also owns space technology and research company SpaceX.
Meanwhile, in a ranking made by Bloomberg, Musk and Bernard Arnault were very close. Musk’s wealth stood at 178.9 billion dollars and Arnold’s wealth stood at 165.1 billion dollars as the US trade was closed last Tuesday.