Bernard Arnault, founder of LVMH and the richest man in the world, lost $11.2 billion in just one day on news that the weakening US economy will reduce demand for luxury goods. In this respect informs The Bloomberg agency refers to its index.
LVMH shares fell on fears that the weakening US economy will reduce demand for luxury goods. For this reason, Arno lost $11.2 billion in one day. On the evening of May 23, his fortune was at the level of $191.6 billion.
LVMH owns the luxury brands Louis Vuitton, Moet & Chandon and Christian Dior, among others. At the same time, the company’s shares rose 23% during the year.
In early January, Forbes magazine WroteCEO of Tesla and chief engineer of SpaceX, Elon Musk, founder of Internet company Amazon, Jeff Bezos, co-founder of Meta (known as extremist and banned in Russia), Mark Zuckerberg, CEO of Google. Parent company Alphabet, Larry Page and Google co-founder Sergey Brin lost $378 billion together.
Before that, Bloomberg reported that the total wealth of billionaires from Russia decreased by $93,753 billion last year.