Bernard Arnault’s fortune up $19 billion as LVMH earnings boost stock
The stock surge also pushes LVMH’s market cap to €304.89—making it Europe’s second most valuable company by market cap.
The stock surge also pushes LVMH’s market cap to €304.89—making it Europe’s second most valuable company by market cap.
Luxury goods conglomerate LVMH is no longer the world’s most valuable luxury brand, eclipsed by Hermès on Tuesday after it disclosed worse-than-expected Q1 results.
Arnault is the world’s fifth wealthiest person while Ambani is the eighteenth richest.
Bernard Arnault, chairman and CEO of LVMH Group, received the Malcolm S. Forbes Lifetime Achievement Award at the Forbes Global CEO Conference 2024 on Wednesday in Bangkok.
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The billionaires behind Tesla, Alphabet, Meta, LVMH and more saw their fortunes plunge in the billions on Wednesday following a rash of earnings reports that disappointed investors.
LVMH, the luxury fashion and alcohol giant owned by billionaire Bernard Arnault, named the owner’s 29-year-old son Frederic Arnault as head of the company’s watch division—joining his siblings in a senior leadership role at the family business.
Musk and Arnault brought along close family members for the meal, an Instagram post revealed.