The great French fortunes can thank the Stock Market. This Tuesday, Françoise Bettencourt Meyers, heiress to the L’Oréal empire, and Bernard Arnault of LVMH became, according to Forbes, the richest man and woman in the world. A first for France.
On the same day, the fortune of the founder of the luxury giant reached a new level. According to the Bloomberg Billionaires Index, Bernard Arnault now leads a heritage of 201,000 million dollars (about 183,500 million euros).
He is the third man in modern history to cross this symbolic milestone after Jeff Bezos in August 2020 and Elon Musk in January 2021. Since then, the two American billionaires have fallen sharply. The founder of Amazon “weighs” today 128,000 million dollars and that of SpaceX 176,000 million, according to Bloomberg.
The price of LVMH could be around 1000 euros
As a reminder, the French billionaire’s fortune comes from a 97.5% stake in the Christian Dior company, which in turn owns 41.4% of LVMH. The Arnault family also owns more than 6% of LVMH’s capital.
In other words, when the luxury giant goes public, its owner’s fortune takes the lift. LVMH continues to break records in the markets. On Tuesday, the price rose again by 0.82%, bringing LVMH’s total capitalization to 425.7 billion euros, making it one of the top 15 capitalizations on the planet and by far the top in Europe. .
The reopening of the Chinese market has fully benefited luxury stocks since the beginning of the year and LVMH in particular, which grows almost 23% in 2023. According to Bank of America, the global luxury market could see growth of 9% this year . , driven by China. According to analysts from the US bank, the price of LVMH could be around 1,000 euros this year (850 euros on Tuesday, April 4), which represents a growth potential of close to 18%.
A prosperous year in prospect for Bernard Arnault, who at the beginning of March once again became the first fortune on the planet ahead of Elon Musk. And if the Tesla boss has grown again after a very hectic 2022 on the stock market, he remains, with a heritage of 176,000 million dollars, left behind by Bernard Arnault. After hitting an all-time high of $340 billion at the end of 2021, Elon Musk fell hard for more than a year.
Source: BFM TV
