Bernard Arnault Has Lost More Wealth Than Any Billionaire in 2024
- Founder of luxury giant has seen his fortune fall $20 billion
- Elon Musk’s net worth fell more than that on Wednesday alone
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French tycoon Bernard Arnault’s net worth has plunged this year by more than anyone else’s on the Bloomberg Billionaires Index, as demand for luxury goods continues to sour.
The founder of fashion-to-Champagne conglomerate LVMH has seen his fortune drop by $20 billion during the period to $187 billion, according to the ranking of the world’s 500 wealthiest people. After the company’s shares took a beating on disappointing results this week, Arnault’s losses surpassed the $18 billion racked up by China’s richest man, Zhong Shanshan.