Luxury goods giant Bernard Arnault, the head of LVMH (think Louis Vuitton and Dom Pérignon), saw a huge drop in his net worth in 2024.
A $53 Billion Slide
Arnault’s fortune plummeted by a staggering $53 billion in 2024, according to Bloomberg. This brought his total net worth down from $231 billion to $178 billion. The main culprit? A nearly 40% slump in LVMH’s stock price. Despite this significant loss, he remains one of the world’s wealthiest individuals.
Still Among the Richest
Even after this major setback, Arnault still holds a spot among the world’s top six richest people. He’s in good company, trailing only the likes of Elon Musk, Jeff Bezos, and Mark Zuckerberg.
The Ultra-Rich Get Richer
Interestingly, despite Arnault’s dip, Deloitte predicts a massive growth in wealth for ultra-high-net-worth families by 2030. They project a jump from $5.5 trillion to $9.5 trillion, fueled by successful businesses and diverse investments. This suggests that while individual fortunes may fluctuate, the overall trend for the super-rich remains upward.
