LVMH chairman and CEO Bernard Arnault has just entered the centibillionaire wealth club. Joining the ranks of a select few who have amassed a wealth of $100 billion USD or more, Bernard Arnault now sits on the list with the likes of Bill Gates and Jeff Bezos.
Solidified on Tuesday when LVMH’s stock jumped 2.9 percent (€368.80 EUR), Arnault now has a net worth of $100.4 billion USD, or roughly 3 percent of France’s economy. Fueled by an ever-growing demand in China for luxury goods, LVMH’s success this year has attributed to a wealth increase of $32 billion USD for Arnault this year alone.
In other news, Louis Vuitton drops sport-meets-suit pre-FW19 collection.