The 10 richest people in the world lose $66 billion in a day
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.
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.
LVMH reported a major slump in growth in its third-quarter results amid weakening demand for luxury goods.
Musk and Arnault brought along close family members for the meal, an Instagram post revealed.