US EditionBernard Arnault’s Fortune Rises By $19 Billion As LVMH Stock Surges After Postive Earnings
Bernard Arnault's fortune rose $19 billion as LVMH shares jumped over 14%, driven by strong sales growth and increased demand from China, company reports showed.
- On Wednesday, Bernard Arnault's net worth reached $181.8 billion, rising more than $19.3 billion as Paris-listed LVMH shares climbed over 14.36% to €609.20.
- Driven by stronger demand in China, LVMH posted a 1% rise in third‑quarter revenue to €18.28 billion , its first growth this year.
- Unit data indicate the selective retailing unit rose 7%, as Sephora reported sustained revenue gains, according to our estimates.
- The rally moved Arnault to seventh on Forbes' Real Time Billionaires list, surpassing Steve Ballmer's $176 billion, as LVMH's market cap increased.
- Despite the rally, Arnault's $192 billion high this year remains below his January peak of $209 billion, amid sector forecasts suggesting ongoing volatility and slow luxury growth, according to McKinsey.
11 Articles
11 Articles
Le Huffington Post
Laminute.infoThe wealth of the richest man in France now stands at more than €190 billion, backed by a leap of more than 12% of the LVMH action in one session on Wednesday.
LVMH CEO Bernard Arnault sees wealth skyrocket by $19 billion overnight after months of bleeding billions as shoppers trade designer bags for luxury vacations
The world’s richest billionaires have experienced incredible gains and losses this year—from Oracle’s Larry Ellison briefly toppling Elon Musk for the top spot before swiftly losing $34 billion, to Bill Gates tumbling down the ranking after philanthropic donations wiped $51 billion from his net worth. Now, after months of turbulence, LVMH’s Bernard Arnault is the latest businessman to rise up the Bloomberg Billionaires Index after his company’s …
According to the "Bloomberg Billionaires" index, October 15 was the second most profitable day in the life of the businessman, while issues of taxation of large fortunes will be part of the finance bill.
LVMH's sales growth in the last quarter has fuelled a wider recovery in the luxury sector, raising the shares of Hermes, L-Oréal, Dior, Prada and many others, while Bernard Arnault, the billionaire president of LVMH, sees his net wealth increase by more than $18 billion.
The 14% increase in the value of shares of French conglomerate LVMH has boosted the fortune of the company's founder and chairman, Bernard Arnault, by more than $19 billion. The French businessman is currently ranked 7th on Forbes' list of the richest people with a fortune of $179.6 billion and is still the only non-American in the top ten. The rise in LVMH shares followed the publication of the French conglomerate's earnings. LVMH reported its …
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
