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The Latest Breaking News from Bernard Arnault

LVMH Posts Record Sales And Profit In 2023

The world's largest luxury goods group LVMH announced record results Thursday, even as growth slowed towards the end of last year and sales of spirits shrank.

International Business Times

Elon Musk loses $11bn from his fortune as Tesla shares tumble after profits fall

But he still remains the richest person in the world with a net worth believed to be above $200 billion

Evening Standard

Oxfam Predicts Trillionaire Within Decade Amidst Growing Global Inequalities

Oxfam warns that the world could have its first trillionaire within a decade, highlighting growing inequalities exacerbated by the pandemic.

Top News

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As the billionaires gather at Davos, it's worth examining what's become of their dreams

Gathering for their annual World Economic Forum at Davos in Switzerland this week, the world’s business and political elite will be digesting some unpleasant reading courtesy of the aid agency Oxfam International.

The Conversation

Gen X drugmaker is coughing up millions for Paris Olympics sponsorship to show Gen Z and millennials it's a cool place to work

Sanofi is hoping the exposure will help put the brand in front of prospective young talent which it has struggled to recruit.

Fortune

Jeff Bezos Net Worth 2024: Amazon Founder's $172.3B Wealth Set To Soar Atop Blue Origin Rockets

Jeff Bezos is the third-richest man in the world today, behind Elon Musk and Bernard Arnault. Here's a look at his net worth and where it could be in 2024.

International Business Times

Fashion Power 100 revealed: the hottest industry style players ranked

From designer heavyweights to industry titans and trending ingenues, the Standard has ranked the style world’s most significant figures of 2023 from one to 100

Evening Standard

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Twelve billionaires’ climate emissions outpollute 2.1m homes, analysis finds

Research shows impact from lifestyles and investments of likes of Jeff Bezos, Bill Gates and Elon Musk

The Guardian - UK

Giorgio Armani plans to control his fashion empire even in death with a succession plan that details everything from style to IPOs and mergers

The fashion billionaire has reportedly provided his six heirs with instructions on everything from appointing style directors to going public.

Fortune

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

Fortune

Birkenstock: Brothers behind shoe brand are worth $3.5 billion

Birkenstock’s seemingly ubiquitous $130 leather sandals have helped the German family behind the brand build one of the biggest footwear fortunes on the planet.

The Times of India

Bernard Arnault, the world's second richest man, may be seeing the end of his winning streak as luxury shoppers bolt for the first time in years

LVMH boss Bernard Arnault's wealth topped $200 billion in April surpassing Elon Musk as luxury industry made big gains—but the tide may now be turning.

Fortune

European luxury stocks may not have shaken off the impact of economic pressures just yet as a key index that tracks the top 10 luxury stocks declined the most in a quarter since 2020

The luxury stock index, which includes LVMH, Ferrari and Richemont, is under pressure due to tighter consumer spending globally—especially in China.

Fortune

Birkenstock set to float on stock market with valuation of nearly $10bn

German sandal maker has come a long way from its founding in 1774 as a maker of orthopaedic shoes to going public on the NY stock exchange

The Guardian - AU

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Fortune

World’s second richest man LVMH's Bernard Arnault under investigation in Paris over connections to Russian oligarch

French prosecutors said the investigation has been underway since 2022. Bernard Arnault's lawyers said money-laundering allegations linking to Nikolai Sarkisov were "absurd and groundless."

The Guardian - UK

Victoria Beckham raises the barre with ballet-inspired Paris show

Oversized knits and even hair nets were given a chic glow-up, while Loewe served urbane surrealism

The Independent UK

Billionaire Louis Vuitton owner Bernard Arnault and Russian oligarch investigated in money-laundering probe

Probe into loans allegedly given to a Russian oligarch to buy a luxury Alpine resort

Radio France Internationale

French billionaire investigated in money laundering probe

French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort, according to Paris prosecutors.

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The Guardian - UK

‘Saint-Tropez has become LVMH Ville’: locals slam super-rich ‘takeover’

The annual influx of billionaires is leading to ‘odious’ practices in the French Riviera town

The Guardian - UK

Marc Bohan obituary

Couturier who led the house of Dior for three decades and dressed Grace Kelly, Sophia Loren and Lauren Bacall

Radio France Internationale

Millionaire businessman donates €10m to struggling French food charity

Head of the French luxury LVMH empire, Bernard Arnault said he would donate €10 million to Les Restos du Coeur, a charity that provides meals and groceries for those in need. The organisation had earlier warned it may have to turn away some 150,000 people this winter as it struggles…

Fortune

Coach parent buys Versace and Michael Kors owner for $8.5 billion as U.S. big fashion races to catch up with billionaire Bernard Arnault’s European luxury giant LVMH

Tapestry’s acquisition of Capri is a move to wield greater influence in the European-dominated luxury market and mitigate the effects of slowed consumer spending.

Radio France Internationale

France to bring artisanal know-how to 2024 Olympic Games

With just one year to go, France is getting ready for the summer Olympic games that will begin with an extravagant ceremony scheduled for 26 July 2024. While organisers race to finalise security details, French brands and sponsors are also putting their best foot forward to get their share of…

The Independent UK

Luxury group LVMH joins top-tier French sponsors of the 2024 Paris Olympics and Paralympics

The world’s biggest luxury group, LVMH Moët Hennessy Louis Vuitton, has announced a sponsorship deal with the 2024 Paris Olympics and Paralympics

Daily Mirror

Tiffany's New York fire: Huge blaze tears through refurbished Fifth Avenue building

Images show smoke billowing from the newly refurbished iconic Tiffany's building in Fifth Avenue, Manhattan New York - fire crews report a 'high voltage electrical fire' in the basement

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