- Angela Gonzalez-Rodriguez |
New York - The executives of the world’s largest group of luxury goods, LVMH, enjoyed a millionaire rise in the value of their personal fortunes shortly after the company reported its results for fiscal year 2018.
In particular, Bernard Arnault, the fourth richest person in the world according to the international billionaires ranking compiled by Bloomberg, added 4 300 million dollars to his personal fortune on January, 30 thanks to the good results of the group he chairs.
After announcing that the growing appetite of Chinese consumers and reporting an improvement in sales of its fashion and accessories division, LVMH shares closed higher, gaining 6.9 percent and hitting its highest level since mid-2016.
Arnault controls approximately half of LVMH through the family holding, Groupe Arnault. The participation of LVMH in the luxury fashion house Christian Dior comprises most of Arnault's fortune.
In January 2018, Arnault’s personal net worth was estimated at about 76,900 million dollars, which is close to Warren Buffett’s fortune. The president of Berkshire Hathaway currently ranks third in the Bloomberg Billionaires Index.