Bernard Arnault's wealth is slumping as the luxury boom falters

Fri, 07/26/2024 - 05:44

Bernard Arnault wearing a navy-blue blazer jacket and a white shirt. — Bernard Arnault's wealth fell by $46 billion over a four-month period, per Bloomberg data.
Edward Berthelot/Getty Images

Bernard Arnault's wealth fell by about 20% between late March and late July, per Bloomberg data.
There's been a drop in demand for luxury goods, and LVMH posted disappointing earnings this week.
Arnault is still the world's third-richest person, with an estimated net worth of $185 billion.

LVMH CEO Bernard Arnault's wealth is slumping amid a drop in demand for luxury goods.

The French billionaire's wealth has fallen from a peak of $231 billion in late March to $185 billion this week, per estimates by the Bloomberg Billionaires Index. This represents a drop of about 20%, or $46 billion, in just four months.