Bernard Arnault Surpasses Mark Zuckerberg Following $30 Billion Increase in Wealth

Bernard Arnault Cashes In Big

Bernard Arnault just pocketed a cool $30 billion this past week. Yeah, you heard right. The LVMH boss jumped over Mark Zuckerberg to become the third-richest person on the planet.

LVMH Stocks on Fire

Shares of LVMH – home to Dior, Sephora, and Tiffany & Co. – surged nearly 20%. China’s stimulus efforts, aimed at revving up their economy, played a big role.

A Smart Move: Moncler

LVMH closed 3.7% higher on Friday after snapping up an indirect stake in Moncler. Moncler, in case you didn’t know, is that Italian brand you see everyone sporting on ski slopes.

Mark Zuckerberg: Dethroned

With LVMH’s stock rise, Arnault leapfrogged Zuckerberg. The Meta CEO’s net worth saw a slight dip to $201 billion, even though he’s still up nearly $74 billion this year.

The Ups and Downs

Arnault, dubbed the “Wolf in Cashmere”, has had a wild ride. He was the richest person with a net worth of $231 billion in late March. But, boom! He lost $54 billion over six months, landing in fifth place.

| Net Worth | Date |
| — | — |
| $231 Billion | Late March |
| $177 Billion | Last Week |
| $207 Billion | Friday |

Bouncing Back

Arnault’s wealth decline this year? Almost wiped out. Stocks down 20% this year? Trimmed to just 2.7%. Friday’s close? A mere $252 million down for the year.

The China Effect

China’s plans to boost its economy are a game changer. China’s massive stimulus moves could include interest rate cuts, liquidity boosts, and more. These moves are driving a renewed interest in luxury items.

Why China Matters

China’s one of LVMH’s biggest markets, raking in about 30% of its sales from Asian countries, excluding Japan. So yeah, every economic hiccup there has a ripple effect.

Challenging Times for LVMH

LVMH has faced challenges this year with revenue and profit pressures. Arnault himself noted economic and geopolitical uncertainties in its Q2 earnings report.

The Look Ahead

With LVMH’s stock rallying, Arnault now holds a solid third place, $25 billion ahead of Oracle’s Larry Ellison, who sits at $182 billion.

For the latest, check out [Bloomberg Billionaires Index](https://www.bloomberg.com/billionaires/). And for a deeper dive into Bernard Arnault, click [here](https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth).

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