London Daily

Focus on the big picture.
Saturday, Jun 21, 2025

0:00
0:00

Bernard Arnault Loses $11.2 Billion in One Day as Investors Fear Slowdown in US Growth Will Reduce Demand for Luxury Products

The LVMH stock fell by 5% on the Paris Stock Exchange yesterday, marking its sharpest decline this year. All of this comes against the backdrop of a $30 billion wipeout of stocks of luxury companies in Europe.
Bernard Arnault loses $11.2 billion in one day as investors fear a slowdown in US growth will reduce demand for luxury products.

The LVMH stock fell by 5% on the Paris Stock Exchange yesterday, marking its sharpest decline this year. All of this comes against the backdrop of a $30 billion wipeout of the stocks of luxury companies in Europe. Within just one day, Bernard Arnault, the owner of the LVMH Group and the richest man in the world, lost $11.2 billion of his fortune. The reason: investors' concerns that the slowdown in growth in the United States would reduce the demand for luxury products.

The LVMH stock fell by 5% on the Paris Stock Exchange yesterday, marking its sharpest decline this year. All of this comes against the backdrop of a $30 billion wipeout of the stocks of luxury companies in Europe.

However, despite the loss of $11 billion, there is no need to worry about Arnault, whose net worth is estimated at $191.6 billion according to Bloomberg's World Billionaires Index, making him still the top-ranked individual. The gap between Arnault and the second-richest person in the world, Elon Musk, owner of Tesla and Twitter, narrowed to $11.4 billion.

It is worth noting that despite the current decline, Arnault's fortune has only been growing in 2023 and currently stands at $29.5 billion, thanks to a consistent 23% increase in LVMH stocks (even after the current downturn). Overall, the European textile and luxury goods index has risen by 27% this year.

Arnault became the richest man in the world in December 2022 when he surpassed Musk, who lost over $100 billion during that time due to a sharp decline in Tesla stock and the purchase of Twitter.
Newsletter

Related Articles

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×