The richest European got even richer at $ 8 billion in one week

The businessman’s fortune exceeded 122,000 million dollars. In the ranking of billionaires in the world, it is surpassed only by Jeff Bezos.

Last week LVMH group of companies (Louis Vuitton must Hennessy) reported that there are signs of a recovery in the global luxury goods market, which has been hit hard by the coronavirus pandemic. In the context of this statement, which caused the subsequent growth in the value of LVMH shares, the fortune of the head of the group, Bernard Arnault, grew by $ 8 billion to 122 billion in a week, Forbes reported Saturday 24 October.

According to the newspaper, from October 15 to 22, the value of the LVMH group’s shares rose 6%. However, as noted ForbesThis does not mean that the business group crisis is over.

So on October 15, the LVMH group, which owns brands like Bulgari, Guerlain and Dom Pérignon, reported a 21% drop in revenue in the first nine months of 2020. Revenues from sales of its cosmetics, beverages, jewelry and retail sales in the third quarter were lower than in the same period last year.

At the same time, apparel and leather goods sales revenue increased 12%, particularly due to high home sales Louis Vuitton Y Dior.

“LVMH is not the only luxury player on the rise,” he said. Forbes.

Fashion house Hermes it also reported 7 percent revenue growth in the third quarter. While the brand’s sales in Europe and the United States fell significantly, in Asia they grew by almost 21%.

Now on the billionaires ranking ForbesUpdated in real time, Arno ranks second with a fortune of $ 122.3 billion. He is the second after the founder. Amazon Jeff Bezos – $ 188.6 billion, and third is the founder Microsoft Bill Gates – $ 116.9 billion

On the threshold of a trillion. Bezos capitalized on the pandemic

Recall that previously Musk’s fortune exceeded $ 100 billion for the first time. The businessman got rich thanks to the growth of the shares of his car company Tesla. Since the beginning of the year, Musk’s fortune has increased by $ 73.6 billion.

News of Correspondent.net on Telegram. Subscribe to our channel https://t.me/korrespondentnet