16h35 ▪
3
min read ▪ by
The fortune of Bernard Arnault, French luxury magnate and CEO of LVMH Moet Hennessy Louis Vuitton, took a hard hit in 2024, losing 31.9 billion dollars in a single year due to falling stock prices.
The fall of LVMH and its repercussions on Arnault’s fortune
The fortune of Bernard Arnault, who曾经在全球亿万富翁排名中名列前茅, dropped from 231 to 178 billion dollars between April and the end of 2024, according to the Bloomberg Index. This drop of 31.9 billion dollars is primarily due to a nearly 40% drop in LVMH’s stock, of which Arnault owns 48%.
LVMH, the world leader in luxury, owns iconic brands such as Louis Vuitton, Moët & Chandon, and TAG Heuer. However, in 2024, the company faced a drop in demand across several key markets, particularly in China and Europe. Several factors explain this decline: persistent inflation, a global economic slowdown, and changing consumer habits.
This stock market correction marks a turning point after a decade of exponential growth for LVMH, and highlights the increased volatility of luxury markets in the face of global economic shocks.
A fortune that remains colossal despite the losses
Despite this significant loss, Bernard Arnault maintains his position among the wealthiest people on the planet, now ranking sixth worldwide with an estimated wealth of 178 billion dollars.
This relatively comfortable situation reflects the strength of the LVMH empire, which continues to dominate the global luxury sector with prestigious brands like Louis Vuitton, TAG Heuer, and Dom Pérignon.
Long-term prospects remain promising for great fortunes, as highlighted in the Deloitte Private study. According to their projections, the wealth of ultra-rich families is expected to reach 9.5 trillion dollars by 2030, up from 5.5 trillion currently, suggesting that this difficult period could merely be a temporary correction in a long-term growth trajectory.
This market turbulence, while spectacular, does not undermine the fundamentals of the LVMH group nor Bernard Arnault’s dominant position in the global luxury industry. It nonetheless highlights the necessity for major luxury groups to adapt to a rapidly changing economic environment.
Maximize your Cointribune experience with our “Read to Earn” program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
