China's new stimulus measures helped boost Bernard Arnault's net worth by $6.2 billion in a day.
LVMH shares surged 4% on the news.
Bernard Arnault, the chairman of LVMH, saw his net worth soar $6.2 billion on Tuesday, according to data from Bloomberg, as shares of the luxury goods maker surged 4%.
At one point in March, Arnault was the richest person in the world, but since the start of the year, he slipped in the net worth rankings as LVMH stock struggled and a huge mega-cap tech rally boosted the net worth of tech CEOs.
AdvertisementArnault's net worth now stands at $183 billion, just ahead of Oracle cofounder Larry Ellison's $179 billion and behind the $200+ billion fortunes of Mark Zuckerberg, Jeff Bezos, and Elon Musk.
Persons:
Bernard Arnault's, —, Bernard Arnault, Arnault, Louis Vuitton, LVMH, Pan Gongsheng, Larry Ellison's, Mark Zuckerberg, Jeff Bezos, Elon Musk
Organizations:
Consumers, Service, Bloomberg, Dior, Tiffany, TAG Heuer, People's Bank of China, Oracle
Locations:
China