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The 71-year-old billionaire and also the richest man in Europe, Bernard Arnault The coronavirus has particularly hit him, his corporate empire of more than 70 brands has been hit from all sides, LVMH, which includes luxury brands, has fallen nearly 20% this year and Arnault’s fortune has shrunk by more than $ 30 billion, losing most of their money in the world to the coronavirus. He lost almost as much money as Amazon leader Jeff Bezos made this year. Arnault currently has a fortune of $ 74.6 billion, making him not only the richest man in Europe but also the fourth richest man in the world.
Arnault’s loss of wealth is clearly due to the spread of the coronavirus, her fashion stores have been closed for more than a month due to the virus, Dior perfumes are now much less purchased, as are Dom Perignon champagne. Additionally, the businessman will even have to pay a $ 16 billion check to buy Tiffany & Co. before the epidemic.
Arnault is not the only European to have lost a lot of money this year. According to the Bloomberg Billioanires index, Amancio Ortega is a Spanish businessman among the billionaires he has lost the most after Arnault, but Francois Pinault, the founder of the luxury company Kering, is also among the top 10 losers.
According to the list, we have compiled that the richest people in Europe after Arnault are making money this year:
Francoise Bettencourt Meyers
With her current assets of $ 52.5 billion, the woman is the second richest man in Europe and the fourteenth richest in the world. Not incidentally, she also has the title of the richest woman in the world with her fortune, although this year she has not escaped any event since her fortune was $ 6.5 billion less than at the end of last year. Bettencourt and her family own the L’Oreal beauty company, but the coronavirus has also significantly reduced demand for beauty products.
Amancio Ortega
As we mentioned earlier, after Bernard Arnault, Amancio Ortega has lost most of his wealth so far this year, totaling more than $ 25 billion. With this, his current fortune amounts to $ 50.4 billion, making Europe the third and fifteenth richest man in the world. Ortega owns Inditex, which includes many clothing brands, but like the luxury goods market, clothing purchases have declined due to store closings due to the coronavirus.
Francois Pinault
The French businessman also travels in luxury brands, he and his family own Kering, which includes brands like Saint Laurent, Alexander McQueen and Gucci. Unfortunately, this industry hasn’t gotten rid of the virus, either, and Pinault’s fortune has declined by $ 10.6 billion so far this year. At $ 31.2 billion, he is currently the fourth richest man in Europe and the 26th richest in the world.
Giovanni Ferrero
Giovanni Ferrero, son of the founder of the confectionery company Ferrero, is the fifth richest man in Europe, despite having lost more than $ 5 billion in wealth this year, to $ 27 billion. At Ferrero, he holds the presidency.
Cover image: Christophe Morin / Bloomberg via Getty Images
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