Bernard Arnault is now only the fourth richest person in the world…

While Bernard Arnault, the boss of luxury goods giant LVMH, has more or less gotten used to occupying the first or even second position in the Bloomberg Billionaires Index, his place has just been taken away from the podium of the world’s richest people. One of the mistakes was the decision of Emmanuel Macron.

The French boss is fourth, according to Bloomberg’s ranking of the world’s 500 richest people as of Wednesday, August 14. He was ahead of Bill Gates but now trails Facebook founder Mark Zuckerberg, whose wealth of $188 billion is three times more than Bernard Arnault.

Devastating disintegration

In this context, the French billionaire’s fall in this ranking is by no means a small matter. On June 7, LVMH shares were worth 762 euros, and on Tuesday, August 13, they were worth 634 euros. The sharp drop can be explained by the recent events that have shaken the French political news.

If Bernard Arnault wants to attack someone, he must address the French head of state. The dissolution of the National Assembly on Sunday 9 June, the night of the European election results in which RN won, led to a sharp fall in the share prices of the LVMH group on the Paris Stock Exchange, where my luxury group has its largest capital.

Less than a week after Emmanuel Macron’s decision, Bernard Arnault also lost more than $9 billion in his personal wealth. In Bloomberg’s ranking, the French billionaire has fallen to third place, although he was still in first place until June 9.

One decline was accompanied by another, the dizzying rise of Mark Zuckerberg, who has benefited from the recent stock market performance of Meta, the parent company of Facebook, Instagram and WhatsApp. What According to data provided by Bloomberg, Mark Zuckerberg’s personal wealth was $43 billion in 2015, and has increased by $59.5 billion over the past year, reaching $188 billion this month. During the same period, Bernard Arnault lost $23 billion.

Source: Yahoo News