Home / Knowledge / News / Fashion / LMVH CEO Arnault joins exclusive $100-bn-plus club

LMVH CEO Arnault joins exclusive $100-bn-plus club

03
Jul '19
Bernard Arnault/Pic: LVMH
Bernard Arnault/Pic: LVMH
French multinational luxury goods conglomerate LVMH Moët Hennessy -Louis Vuitton SE chief executive officer and Europe’s richest person Bernard Arnault’s fortune is now worth $100.4 billion, an increase of nearly $32 billion this year—the largest net worth rise witnessed by anyone on the 500-member Bloomberg Billionaires Index this year. Arnault is 70.

Arnaut, Amazon founder Jeff Bezos and principal founder of Microsoft Bill Gates are the only three people who have crossed the $100 billion threshold.

The rise in demand for Louis Vuitton handbags and Hennessy cognac in China helped raise LVMH’s share price by 43 per cent this year. His fortune, analysts say, now equals more than 3 per cent of France’s economy, according to global newswires.

Arnault controls about half of the empire through a family holding company. LVMH’s portfolio includes brands like Dom Pérignon, Louis Vuitton and Sephora and spans spirits, fashion, jewellery, retail and travel. In 1985, he bought Christian Dior, in which he holds a 97 per cent stake. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Sep 2021

China's infrastructure plan to spur domestic demand, economic change

China’s State Council's executive meeting recently adopted the 14th...

Pic: Shutterstock

Apparel/Garments | On 27th Sep 2021

AAFA calls for tariff relief as US industry deals with shipping crisis

American Apparel & Footwear Association president and CEO Steve Lamar ...

Pic: Shutterstock

Textiles | On 27th Sep 2021

Bangladesh seeks duty-free market access to US

Bangladesh recently urged the US to provide duty-free access to its...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Aashumi Mahajan,

Aashumi Mahajan

The Luxe Maison is a premiere haute couture e-boutique established after...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search