Billionaire Bernard Arnault had the largest-growing fortune on the Bloomberg Billionaires Index after heavy losses last year.
Despite a tumultuous 2024, when the LVMH Moët Hennessy Louis Vuitton CEO lost over $50 billion and dropped from the pinnacle of the world's wealthiest, Arnault's fortunes have soared in 2025, adding approximately $22.9 billion to his net worth so far this year, according to the index.
Newsweek contacted LVMH via email for comment on this story.
Why It Matters
Arnault's financial recovery symbolizes the volatility of the luxury goods market and demonstrates how billionaire rankings hinge on global economic trends and market movements.
Despite geopolitical tensions and inflation impacting consumer behavior last year, LVMH's rebound has been driven by renewed demand for high-end goods globally.
What To Know
Arnault serves as head of the LVMH conglomerate, which comprises some 75 luxury brands including Louis Vuitton, Tiffany & Co. and Sephora.
His rise in fortunes included a single-day gain of $15 billion, thanks to a surge in LVMH's stock price.
LVMH stock climbed 9 percent last Thursday to its highest level since September. Arnault, who owns 48 percent of the luxury conglomerate, benefited from renewed optimism about a recovery in luxury spending, indicated by record sales also reported by rival Richemont, which owns brands such as Cartier and Chloé.
Demand for high-end goods has proven resilient despite recent economic challenges, including inflation and rising interest rates, which had dampened spending even among affluent consumers.
Following a post-pandemic boom in luxury sales, as shoppers returned to travel and retail splurges, the sector has faced turbulence in recent months.
Arnault's fortunes fluctuated drastically over the last year. In March 2024 he was crowned the world's richest person with a fortune exceeding an estimated $230 billion, only to see his net worth plummet by some $54 billion six months later as LVMH's stock faltered.
While Arnault has bounced back significantly this year, he remains far behind Elon Musk, who still tops the list with a $438 billion net worth, followed by Jeff Bezos, Mark Zuckerberg and Larry Ellison.
What People Are Saying
Bernard Arnault told The Telegraph in 2023: "As long as I'm not the richest man in the world, I won't really be happy."
What Happens Next
The luxury goods industry continues to show improved sales as shoppers return from post-pandemic slumps.
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