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Decreasing demand for luxury goods has reduced the number of the richest people in Europe by $ 30 billion. Bernard Arnault Assets, which are currently about $ 74.6 billion, writes Portfolio, which has compiled a compilation of entrepreneurs who are losing a lot.
The 71-year-old French businessman has closed his fashion stores for more than a month due to the virus and is running out of Dior perfumes as well as selling Dom Perignon champagne. There’s also a $ 16 billion expense on the bill because he bought Tiffany & Co. just before the epidemic.
The newspaper writes that among the most failed entrepreneurs in the world from Europe, along with Arnault, is the Spanish Amancio Ortega Hispanic businessman too Francois Pinault, founder of the luxury company Kering.
Ortega became poorer at $ 25 billion, the hardest hit by declining clothing purchases, and Pinault’s $ 10.6 billion drop was also caused primarily by the suffering of the luxury industry.
Featured Image: Eric Piermont / AFP
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