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Billionaire Brothers Saved Their Riches Before a 50% Stock Slide

The Arora family has diversified, keeping only about 10% of its $2.6 billion fortune in shares of struggling retailer B&M.

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Simon Arora spent almost two decades transforming a money-losing retail chain into a European discount juggernaut, making the former McKinsey & Co. analyst and his family one of the UK’s richest.

But lately the company that made them rich — B&M European Value Retail SA — is struggling as a cost-of-living crisis, plunging pound and surging mortgage rates rattle consumers. The stock was down more than 50% this year through Friday, and Arora just retired as chief executive officer after signaling in April he planned to stay on for a further 12 months.