Thanks To Chinese Buyers! LV Boss Is Worth $100 Billion, Third People.

(photo source: Bloomberg)

According to Bloomberg reports, Bernard Arnault, Europe's richest man, has just joined the ranks of Jeff Bezos and Bill Gate Gates to become the third super rich with at least 100 billion dollars in wealth. Bernard Arnaud (Arnault)

The chairman of the LVMH became a "100 billion dollar club" on Tuesday, after its shares rose 2.9% to a record 368.8 euros per share. So far this year, Arnaud's net assets have increased by nearly $32 billion in Bloomberg billionaires. index 500, the percentage of constituent companies has increased significantly.

Arnaud's fortune is $100 billion 400 million, which is now equivalent to more than 3% of the total French economy. Chinese consumers' demand for Louis Weedon Louis handbags and Hennessy Hennessy (Hennessy cognac) has boosted LVMH's performance.

LVMH owns its Dom Perignon Champagne and Tag Heuer. The company's shares surged 43% this year, ranking third in the French CAC 40 index.

Arnaud, 70, and his family are all luxury goods tycoons. After the fire broke out in Notre Dame de Paris in April this year, Arnaud and others promised to contribute $650 million to help rebuild. He controls about half of the LVMH group in Paris based on family holding companies, and owns France. fashion brand Christian Dior 97% shares.

Arnaud acquired a proprietary ownership of Christian Dior. Spin The group entered the luxury market. He sold all the other businesses of the company and bought the controlling stake of LVMH in 1988 with these revenues.

In the Bloomberg 2019 richlist, France's billionaires are the most wealthy among European riches. Arnaud, SA Francois of Kering SA and Francoise Bettencourt Meyers, the cosmetics Empire, add up to more than 40 billion dollars.

At the same time, Paris perfume and fashion brand Chanel (Chanel) released its 2018 results, the two brothers behind this brand Gerrard (Gerard) and Alan Wertheimer (Alain Wertheimer) this week's wealth soared $9 billion 800 million.