The Frenchman has a personal wealth of 176.6 billion dollars according to the Forbes ranking, although on Tuesday he had a day to forget, losing 11 billion dollars.
Arnault owns the LVMH empire, which owns some 70 fashion and cosmetics brands such as Louis Vuitton, Sephora, Moet & Chandon, Christian Dior and more.
In 2021 he added the jewellery store Tifanny & Co, which he bought for 15.8 billion dollars, and he also acquired the Belmond hotel group in 2019.
How Bernard Arnault lost 11 billion in a single day
But although Arnault is doing very well in business, on Tuesday he suffered the remarkable setback of losing 11 billion dollars in a single day.
The reason, according to Bloomberg, is that his LVMH shares fell 5% on the Paris stock exchange.
As a result, LVMH shares fell across Europe and further declines were not ruled out for Wednesday.
Original Story on:
AdomOnline
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