American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Bernard Arnault surpasses Mark Zuckerberg as world’s 3rd richest, LVMH shares skyrocket 14%

by admin October 1, 2024
October 1, 2024
Bernard Arnault surpasses Mark Zuckerberg as world’s 3rd richest, LVMH shares skyrocket 14%

The luxury sector has seen a recent upturn, propelling Bernard Arnault, the CEO of Louis Vuitton Moët Hennessy (LVMH), to reclaim his position as the third richest person in the world.

In less than a week, Arnault’s net worth surged by $30 billion, surpassing Meta’s Mark Zuckerberg, according to the Bloomberg Billionaire’s Index.

The jump in wealth comes amid LVMH’s strategic moves, including its acquisition of a stake in the Italian luxury brand Moncler and China’s recent fiscal stimulus measures aimed at boosting consumer spending.

LVMH share price spikes 14% following China’s stimulus

LVMH, which owns luxury brands such as Louis Vuitton, Dior, and Moët & Chandon, experienced a significant recovery in its share price last week.

The French luxury conglomerate’s stock bounced 14%, from €617.50 to €703.40 ($690.74 to $786.83), in just three days.

This recovery followed China’s introduction of fiscal stimulus aimed at bolstering consumer spending, a move that significantly impacted luxury markets.

As a result, Arnault’s fortune grew from $177 billion to $207 billion, making him the third richest individual globally.

Moncler stake acquisition fuels LVMH’s growth

LVMH’s stake acquisition in Moncler, valued at 10%, further drove the luxury group’s stock rally.

The move signals LVMH’s intent to strengthen its influence in the European luxury fashion market. Arnault, who holds a 48% stake in LVMH, directly benefited from the stock surge, further solidifying his wealth.

This investment has brought optimism to shareholders, although analysts remain cautious about the sector’s long-term prospects.

Despite LVMH’s recent gains, the luxury market faces uncertainty.

Wall Street analysts have downgraded LVMH’s outlook from ‘buy’ to ‘neutral’, citing concerns about slowing global demand for luxury goods. According to Bank of America (BofA), “The luxury consumer is all shopped out.”

This has led to concerns over margin pressures and limited earnings growth for the sector in the coming months.

US market expected to drive luxury growth in 2025

While China’s consumer market shows signs of stabilisation, analysts project that the US will account for more than 50% of luxury sector growth by 2025.

Global tourism and increased demand from the Middle East are expected to contribute to the remaining growth.

The sector must evolve beyond “quiet luxury” trends, with experts urging brands to reintroduce creativity and innovation in their collections to reignite consumer interest.

As the former world’s richest man, Bernard Arnault is not expected to settle for third place for long. With a renewed focus on expanding LVMH’s portfolio and positioning the company for further growth, Arnault remains driven to climb the rankings once again.

Nevertheless, challenges persist for the luxury sector, and Arnault’s fortune may continue to fluctuate based on LVMH’s performance and broader economic conditions.

The post Bernard Arnault surpasses Mark Zuckerberg as world’s 3rd richest, LVMH shares skyrocket 14% appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
AbbVie stock analysis: Rinvoq and Skyrizi are big catalysts
next post
Robinhood expands footprint in Europe, introducing crypto transfer features for EU customers

Related Posts

UiPath to lay off 10% of workforce in...

July 11, 2024

Why this investment bank sees more than 30%...

May 17, 2025

After Klarna IPO, is UK’s crypto-friendly neobank Revolut...

November 14, 2024

SVOL: Is this 16% yielding a good ETF...

October 10, 2024

Rivian (RIVN) stock: EV maker’s shares slip despite...

September 21, 2024

Plug Power stock price has crashed: short squeeze...

February 5, 2025

These two chip stocks could return more than...

October 15, 2024

PDD stock price forms giant triangle pattern ahead...

March 16, 2025

Will the Rolls-Royce share price hit 1,000p after...

May 1, 2025

Kinder Morgan stock is surging: can the rally...

October 21, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,199)
    • Investing (2,531)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved