The richest man in Europe has become richer by $ 39 billion

The richest man in Europe, the French billionaire Bernard Arno, who own the luxury of Louis Vuitton Moët Hennessy (LVMH) luxury concern, was enriched at $ 39 billion this year, Bloomberg writes with reference to his own calculations. This year, LVMH has risen in price by $ 82 billion, reaching a record capitalization in Europe.

Bernard Arno

Now Arno is estimated at $ 103 billion, it exceeded 3% of French GDP. The billionaire occupies the third line in the ranking of the richest people in the world of Bloomberg Billionaires Index . Above it, only the founder of Microsoft Bill Gates ($ 111 billion) and Amazon owner Jeff Bezos ($ 110 billion).

Since the beginning of 2019, LVMH capitalization has increased by 49%, to $ 215 billion. The main driver of the success of LVMH - the growth of the well -being of the Chinese who tend to spend free funds on luxury items. The desire to strengthen the positions in the Chinese market has led to the fact that this year Arno decided on the largest transaction for the purchase of LVMH by American Tiffany for $ 16.2 billion, or $ 135 per share over the past few years.

Since 2015, 70 brands have been included in the LVMH conglomerate: well -known mods, alcohol manufacturers, perfumes, jewelry, publishing groups, hotel business and more than 2500 retail stores around the world.