Arnault Gets $4.3 Billion Richer in a Day, Closing In on Buffett

Bernard Arnault, the world’s fourth-richest person, added $4.3 billion to his fortune Wednesday as Chinese consumers’ growing appetite for handbags and Hennessy cognac boosted results at LVMH.

Shares of his Paris-based luxury-goods maker surged 6.9 percent, the most since mid-2016, as fourth-quarter profit topped analysts’ estimates on strong demand from China, the world’s second-largest economy. Arnault controls about half of LVMH through a family holding company, Groupe Arnault SE.