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☆ 'Wolf in cashmere' Bernard Arnault loses his slot as the world's 2nd-richest man to Jeff Bezos as LVMH stock slips
  + stars: | 2023-10-17 | by ( George Glover | ) www.businessinsider.com   time to read: +2 min
Jeff Bezos overtook LVMH tycoon Bernard Arnault as the world's second-richest man, per Bloomberg. AdvertisementAdvertisementLVMH founder Bernard Arnault is no longer the world's second-richest person, with his total wealth falling below Jeff Bezos' net worth amid signs of a slowdown in demand for luxury goods. In contrast, Bezos' fortune has ballooned by $49 billion to $156 billion, putting him just ahead of Arnault's $155 billion on Bloomberg's rich list. AdvertisementAdvertisementBoth Bezos and Arnault have previously held the title of the world's richest person, but they currently trail Elon Musk. The controversial X owner's personal fortune has swelled by $97 billion to $234 billion this year, thanks to Tesla's stock price surging by over 100%.
Persons: Jeff Bezos, Bernard Arnault, —, Louis Vuitton, Hennessy —, Bezos Organizations: Bloomberg, Service, Federal, Elon
☆ This France ETF is booming despite domestic turmoil. Thank the Chinese consumer
  + stars: | 2023-04-19 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +3 min
EWQ ALL mountain The iShares MSCI France ETF is trading at close to its all-time high. To be sure, the outsized rallies for luxury stocks — and new highs for the fund — could also be a sign that a reversal is near, at least in the short-term. However, Roth MKM chief market technician JC O'Hara said in a note to clients on Sunday that it appears that luxury stocks still have room to run. "We first highlighted the strength of the Luxury Goods market in early December. Since that time, the S & P Global Luxury Goods Index has risen +13%, versus the S & P 500, +1.8%.
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