LVMH head Bernard Arnault dropped to fifth place in the Forbes list
French businessman, head of the company Moët Hennessy - Louis Vuitton (LVMH) Bernard Arnault dropped one line and took fifth place in the list of the world's richest people, losing $ 11 billion for the day after the opening of trading on the Euronext Paris stock exchange, cited data January 29 Forbes magazine.
It is noted that Arnault's losses became evident after the publication of a weak financial report of LVMH, which "did not inspire" investors. At the same time, by 18:10 Moscow time, the billionaire's losses slightly decreased - to $10.4 billion, and the value of assets of his companies amounted to $188.4 billion.
Thus, he was overtaken by the head of Oracle Larry Ellison, who got rich on Wednesday by $6 billion. He took the fourth position in the ranking, with a fortune of $206.6 billion.
LVMH, the world's largest luxury goods maker, saw its net income fall 17% in 2024 and total revenue fall 2%. In the key division of the company, which includes the brands Louis Vuitton and Christian Dior, in the fourth quarter of 2024 revenue decreased by 1%, notes "Gazeta.Ru".
Before that, on January 18, The Times reported that the UK is leaving the record number of dollar millionaires because of the updated tax policy of the Labor Party. Referring to the calculations of the analytical firm New World Wealth the publication noted that the UK has lost almost 11 thousand millionaires in 2024. The outflow is mainly to the UAE, Italy and Switzerland.
