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☆ Bernard Arnault, the world's richest person, appoints son to CEO role at LVMH amid leadership shake-up
▼ + stars: | 2024-11-14 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Bernard, CEO and chairman of LVMH, is the world's richest person with a $158.5 billion net worth. Related Video 5 ways Elon Musk shook up Twitter as CEOAlexandre Arnault and Bernard Arnault in 2016. Representatives for LVMH, Arnault, and Guiony did not respond to requests for comment from Business Insider. The new appointments also drum up speculation about who will succeed Bernard as LVMH's CEO. The Arnault family has been compared to the Roy family, the subjects of the HBO drama, "Succession."

Persons: Alexandre Arnault, Moët Hennessy, Bernard Arnault's, —, Bernard Arnault's multibillion, LVMH, Bernard, Christian Dior, Bernard's, Alexandre, Elon Musk, Bernard Arnault, Donato Sardella, Louis Vuitton, Jean, Jacques Guiony, Guiony, — Alexandre, Frédéric —, Delphine Arnault, Dior Couture, Antoine Arnault, Antoine, Jean Arnault, Roy, Roy family's Organizations: Service, company's Sustainability, LVMH's, Product, Communications, Tiffany, LVMH, Business, Reuters, Christian Dior, HBO, New York Times Locations: LVMH

☆ UBS launches its experiential "House of Craft" campaign in New York as Credit Suisse integration continues
▼ + stars: | 2024-10-18 | by ( Julia Hood | ) www.businessinsider.com time to read: +6 min

UBS launched its global "House of Craft" initiative at an event in New York City in October. AdvertisementIn a SoHo townhouse in New York City, UBS launched its global "House of Craft" initiative, an experiential campaign that honors the tradition of craftsmanship. AdvertisementConvening around craftNew York City's legacy of fine craftsmanship made it the choice destination for UBS's first "House of Craft" event. James Miller, who said he collects micro-brand timepieces, wore a Henry Archer watch to the "House of Craft" event. "This is a brand campaign, but it's one very clearly associated with making sure more people are positively thinking about us," he said.

Persons: —, Carmelo Anthony, Daniel Dae Kim, Ginny Wright, Audemars Piguet, Jean, Claude Biver, John McDonald, McDonald, Sergio Ermotti, Ermotti, Prophet, James Miller, Henry Archer, Julia Hood Miller, Nathan Desloover, Todd Snyder, Julia Hood, I've, Desloover, I'm Organizations: UBS, Credit Suisse, Service, NBA, Audemars, TAG, Suisse, Swiss, Publicis Groupe, Suisse hasn't, Horological Society of New Locations: New York City, Swiss, Americas, UBS's, Asia, Latin America, New York, York, Horological Society of New York, Detroit

☆ Europe's richest person is about to buy a soccer club with Paris FC deal
▼ + stars: | 2024-10-10 | by ( Nora Redmond | ) www.businessinsider.com time to read: +2 min

Bernard Arnault's family is set to become a majority shareholder in Paris FC. AdvertisementBernard Arnault's family is set to invest in Paris FC football club alongside Red Bull as the billionaire LVMH CEO further embraces the world of sport and its lucrative sponsorship opportunities. Red Bull will acquire a 15% stake. "LVMH operates a global business and needs to find global audiences and global languages," Luca Solca, a senior analyst at Bernstein covering global luxury goods, told Business Insider. LVMH and Red Bull did not immediately respond to a request for comment from Business Insider.

Persons: Bernard Arnault's, LVMH, —, Red Bull, Pierre Ferracci's, Arnault, Louis Vuitton, Moët Hennessy, Luca Solca, Bernstein Organizations: Paris FC, Rolex, Service, Paris FC football, Bloomberg, Ligue, TAG, Olympic, Paralympic Games, Business Locations: Paris, LVMH, Swiss

☆ Louis Vuitton owner LMVH clinches 10-year sponsorship deal with Formula 1
▼ + stars: | 2024-10-03 | by ( ) edition.cnn.com time to read: +1 min

French luxury giant LVMH has struck a 10-year sponsorship deal with Formula 1, covering its Louis Vuitton, Moet Hennessy and TAG Heuer brands and replacing long-time sponsor Rolex, the company announced Wednesday. The sponsorship deal comes into effect in 2025 and marks a fresh push by LVMH into sports. The company, headed by one of the world’s richest men, Bernard Arnault, paid some €150 million ($166 million) to be the premium sponsor of the Paris Olympics. At the Paris Olympics, LVMH and other companies broadened the realm of traditional brand sponsorship, taking part in medals ceremonies, for example. The company’s sponsorship of the Paris Olympics included its jeweler Chaumet, which designed medals for the event, with each containing an original piece of the Eiffel Tower.

Persons: Louis Vuitton, Moet Hennessy, Bernard Arnault, ”, LVMH, Frederic Arnault, ” LVMH, Chaumet Organizations: Louis, TAG, Rolex, Paris Olympics, Paris, Eiffel Locations: Swiss, LVMH

☆ Benard Arnault added $6 billion to his net worth in a day after China's stimulus sparked a rally in luxury stocks
▼ + stars: | 2024-09-25 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

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

☆ Why Malbon Golf welcomed the ‘sweatergate’ social media firestorm
▼ + stars: | 2024-08-30 | by ( Jack Bantock | ) edition.cnn.com time to read: +15 min

The couple’s lifestyle brand, Malbon Golf, had been swept into a social media storm by an eye-catching Masters outfit donned by ambassador and former world No. Nicolas Malinauskas/Malbon GolfStarsThe duo launched Malbon Golf in 2017, with Stephen’s anthropomorphic ball character “Buckets” taking center stage as the brand’s logo. Ross Kinnaird / Getty Images Tom Holland: Part-time web-slinger, full-time golf swinger -- the "Spider-Man" lead is a self-confessed golf addict. Warren Little / Getty Images Stephen Curry: The three-point king of the NBA is also a highly-proficient par-three shooter. Jamie Squire/Getty ImagesFor Malbon Golf, it is simply the latest step in its aim to “condition” the golf world into accepting new styles in the game.

Persons: Stephen, Erica Malbon, Jason Day, Erica, Frank151, —, ’ ”, “, ’ ” Stephen, Nicolas Malinauskas, it’s, ” Erica, “ We’re, — there’s, ” Stephen, ”, Jimmy Choo, Dre, Vince Sirico, Justin Timberlake, Travis Scott, Q, Justin Bieber, Bieber, …, ’, That’s, ” Adam Sandler, Sandler, Gilmore, Shooter McGavin, Christopher McDonald, Al Messerschmidt, Michael Jordan, Davis, Jordan, Isaac Brekken, JT strutting, Matt Sullivan, Catherine Zeta, Jones, Michael Douglas, Douglas, Ross Kinnaird, Tom Brady, Brady, Aaron Rodgers, Josh Allen, Patrick Mahomes, Carmen Mandato, Orlando Ramirez, Jessica Alba, tross, Xaume Olleros, Niall Horan, There's, Tom Holland, Warren Little, Stephen Curry, Isaiah Vazquez, Celine Dion, René Angélil, Dion, Sam Levi, Miles Teller, Alice Cooper, Cooper, Kathryn Newton, Newton, Ezra Shaw, Sandy Young, Little, Tiger Woods, Oscar Wilde’s, Woods, Jamie Squire, Allen Iverson Organizations: CNN, “ City of Angels, ”, Nike, Prince, NBA, University of North Carolina, PGA, Chicago, NFL, Mission, Getty, Management, BMW PGA, Golden State Warriors, Clarkson Creative, Club, American, Tahoe, LPGA, Ryder, Celtic, Team, April’s, Augusta National Locations: Augusta , Georgia, Los Angeles, New York, “ City, Florida, British, Alba, Hainan, AFP, Irish, Terrebonne , Quebec, American, Celtic Manor, Wales, Augusta

☆ LVMH CEO Bernard Arnault says Olympics sponsorship honors the spirit of France
▼ + stars: | 2024-07-26 | by ( Jacqueline Corba | ) www.cnbc.com time to read: +1 min

For the first time a luxury brand is an Olympic sponsor. And it's not just one brand, it's the empire of LVMH . LVMH's sponsorship deal took a year of negotiations and ultimately landed at about $160 million of investment from the parent company of brands like Celine, Louis Vuitton, Loewe, Tiffany, TAG Heuer and Dom Perignon. Housing the medals are trunks made by LVMH brand Louis Vuitton. It's to show the spirit, the spirit of our group and the spirit of the country," said Arnault.

Persons: Bernard Arnault, CNBC's Andrew Ross Sorkin, Celine, Louis Vuitton, Loewe, Tiffany, Dom Perignon, LVMH, Hennessy, LVMH's Berluti, It's Organizations: Olympic, Dior's, TAG Heuer, Olympic Games, Louis Locations: Paris

☆ The most luxurious pieces Glen Powell and Daisy Edgar-Jones have worn on their 'Twisters' press tour
▼ + stars: | 2024-07-22 | by ( Amanda Krause | ) www.businessinsider.com time to read: +1 min

Glen Powell and Daisy Edgar-Jones are turning heads with their style while promoting "Twisters." Powell has been sporting luxury accessories from Tag Heuer and Tom Ford on red carpets. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Twisters" is having one of the most glamorous press tours of the year — and it's all thanks to Glen Powell and Daisy Edgar-Jones. This story is available exclusively to Business Insider subscribers.

Persons: Glen Powell, Daisy Edgar, Jones, Powell, Tom Ford, Cartier, — Organizations: Gucci, Service, Business

☆ French luxury tycoon Bernard Arnault, the richest man outside America, is buying one of Paris' most iconic restaurants
▼ + stars: | 2024-06-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

LVMH has bought a majority stake in the tiny 100-year-old Paris bistro Chez L'Ami Louis. LVMH is owned by Bernard Arnault, who regularly jostles with Jeff Bezos and Elon Musk for the title of world's richest person. Chez L'Ami Louis is famed for its roast chicken, finely-cut fries, and celebrity patrons. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLVMH boss Bernard Arnault has bought one of Paris's most iconic restaurants.

Persons: LVMH, Louis, Bernard Arnault, Jeff Bezos, Elon Musk, Chez L'Ami Louis, —, Christian Dior, L'Ami Louis Organizations: Chez, Service, Louis Vuitton, Bloomberg, Business Locations: Paris

☆ Meet Delphine Arnault, Dior CEO and daughter of world's richest man
▼ + stars: | 2024-05-06 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Delphine Arnault, eldest child of LVMH head Bernard Arnault, is the CEO of Christian Dior. Apart from a brief stint at McKinsey, her career has spanned multiple roles for LVMH since 2000. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The eldest daughter of the world's richest man, LVMH CEO Bernard Arnault, the 49-year-old Delphine is now a year into her role as CEO of Dior. Since 2000, her career has spanned multiple roles with LVMH, including CEO of Dior since 2023.

Persons: Delphine Arnault, LVMH, Bernard Arnault, Christian Dior, Louis Vuitton, —, Delphine, Delphine Arnault's Organizations: McKinsey, TAG, Service, Dior Locations: Berluti

☆ Watches and Wonders 2024: The best women’s watches on show
▼ + stars: | 2024-04-09 | by ( Sarah Royce-Greensill | ) edition.cnn.com time to read: +7 min

Women’s watches have undergone something of a transformation in recent years, moving beyond an outdated “shrink it and pink it” design school of thought. Courtesy HermèsThe Cut is Hermès’ first new, in-house-designed women’s watch for 20 years — and it’s worth the wait. It also comes in rose gold, diamond-dusted white gold, and in two seriously special High Jewelry iterations which feature stripes of coloured hardstones. Courtesy ChopardBaby blue seems to be the hue for women’s watches this year, and Chopard’s new Happy Sport is a delicious example. Continuing the blue theme, it eschews razzle-dazzle for a confidently chic combination of white gold and lustrous lacquer, in a newly slimmed-down silhouette.

Persons: Patek Philippe, Cartier, Chanel, Couture, Boyfriend Couture, Chanel Chanel’s Couture, Coco Chanel, Van Cleef, Van, you’d, Carrera, Piaget Piaget, They’re, Vacheron Constantin Grand Lady Kalla Vacheron Constantin Grand Lady, Constantin Vacheron Constantin, Kalla Organizations: CNN, Chopard, TAG, IWC, Schaffhausen Locations: Geneva, Switzerland

☆ LVMH takes aim at $30 billion watch market with high-end, reinvented pieces
▼ + stars: | 2024-02-03 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

Sales of luxury watches worldwide are estimated at about $30 billion this year, according to market research firm IMARC Group. A Zenith luxury watch at 2024 Watch Week in Miami. A Bulgari Serpenti Secret watch at 2024 Watch Week in Miami. A TAG Heuer luxury watch at 2024 Watch Week in Miami. A Zenith luxury watch at 2024 Watch Week in Miami.

Persons: Louis Vuitton, Bulgari, Dior, Frederic Arnault, LVMH, Bernard Arnault, CNBC Frederic Arnault, Benoit de Clerck, Jean, Christophe Babin, Babin, women's, —, Diamant, Tourbillon, Julien Tornare Organizations: IMARC, TAG, Zenith, CNBC, LVMH's, Executives, CNBC LVMH, CNBC TAG, Carrera, TAG Heuer Locations: Miami, America, U.S, Swiss, LVMH

☆ Bernard Arnault, the world's 3rd-richest person, is set to appoint 2 more of his children to the LVMH board
▼ + stars: | 2024-01-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewBernard Arnault, the world's third-richest person, is set to appoint two more of his children to LVMH's board, France's La Lettre first reported. The French billionaire plans to propose his sons Alexandre Arnault, 31, and Frédéric Arnault, 29, as board members, the reports say, quoting unnamed sources. Four of Arnault's five children will sit on the LVMH board if their appointments are confirmed. Arnault cofounded LVMH in the 1980s and is its CEO and chairman. In May 2023, he became the third person to be worth more than $200 billion, according to the Bloomberg Billionaires Index.

Persons: —, Bernard Arnault, France's, Alexandre Arnault, Frédéric Arnault, Delphine, Bernard's, Antoine, It's, Arnault hasn't, LVMH, Alexandre, Vianney Le Caer, Louis Vuitton, Dior, Marc Jacobs, LVMH didn't, Donald Trump, he'd, Frédéric, Delphie, Dior Couture, Jean, Louis Vuitton's, Arnault, Elon Musk, Jeff Bezos Organizations: Service, Bloomberg, The Financial Times, Business, Novo Nordisk, Tiffany, New York Times, Mar, TAG, Christian Dior, Elon Locations: French, Danish, Swiss, LVMH

☆ Who Is Bernard Arnault? The LVMH founder is one of the world's richest people and his family-run company operates like the plot of 'Succession.'
▼ + stars: | 2023-11-25 | by ( Avery Hartmans | Britney Nguyen | Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Bernard Arnault is the world's third richest man. He controls the massive luxury conglomerate LVMH, and his children all hold roles in the business. His eldest son, Antoine Arnault, will be stepping down from his role as CEO of Berluti in January. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNo name is perhaps more synonymous with the world of luxury goods than Bernard Arnault.

Persons: Bernard Arnault, Antoine Arnault, —, Moët Hennessy Louis Vuitton, Louis Vuitton, Dom Pérignon, He's, Jeff Bezos, Elon Musk, he's, Arnault, LVMH, Antoine, Here's Organizations: Bloomberg, Berluti, Service, TAG, Amazon, Tesla

☆ Social and influencer-marketing agency The Fifth, part of Murdoch's News Corp, is shutting down its UK talent division
▼ + stars: | 2023-11-14 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

The Fifth, a social-creative agency originating in the UK, is shutting down its talent-management arm in the country, the company confirmed to Business Insider. The company is part of News UK, a media conglomerate that operates news outlets like The Times, The Sunday Times, and The Sun. The Fifth was founded in 2019 by Oliver Lewis, formerly News UK's director of digital strategy and partnerships, and The Fifth's talent division was launched a year later. Citing changes in the UK market, the company said it had decided to focus its efforts on the social-creative and influencer-marketing side of the business. Do you work at The Fifth or other talent management firms in the UK or have insight to share?

Persons: Oliver Lewis, It's, Dan Wang Organizations: Business, News UK, Times, Sunday Times, Sun . News, Rupert Murdoch's News Corp, Eurostar, BareMinerals, Columbia Business School

☆ No college, no problem. Tiffany's wants Gen Zers to make luxury jewelry.
▼ + stars: | 2023-10-05 | by ( Tim Paradis | ) www.businessinsider.com time to read: +5 min

The company's owner, luxury goods giant LVMH Moët Hennessy Louis Vuitton, is expanding a program that trains people to become artisans who can make Tiffany's high-end jewelry. The company said Thursday it's begun a two-year bench jewelry apprenticeship program involving Tiffany and the Rhode Island School of Design. The move comes as Gen Zers rethink the idea of college as costs skyrocket and US student-loan payments are resuming following a pandemic hiatus. The programs work with colleges and universities to help conduct the training. LVMH has used apprenticeship programs to help develop the skilled artisans it needs for its brands.

Persons: Tiffany, —, Moët Hennessy Louis Vuitton, Gena Smith, it's, Smith, LVMH, Johnny Vacar, It's, they'd Organizations: Service, Tiffany, Rhode Island School of Design, Data Initiative, Tiffany's, Louis Vuitton Locations: Europe, North America, Island, York, LVMH's, Japan, San Francisco

Keep in mind that the best Apple Watch Ultra 2 band for you comes down to how you intend to use your watch. Below are the 10 best Apple Watch Ultra 2 bands including picks from Nomad, Zagg, and Apple. And for picks better suited to the Series 9 or SE, see our guides to the best Apple Watch Series 9 bands, as well as the best metal Apple Watch bands and the best leather Apple Watch bands. Learn moreBest Apple Watch Ultra 2 bandsWhat to consider when shopping for the best Apple Watch Ultra 2 bandThe most important consideration to keep in mind while shopping is how you intend to use your Apple Watch Ultra 2. Are Apple Watch Ultra 2 bands more durable than other Apple Watch bands?

Persons: You'll Organizations: Apple, Brands

☆ LVMH takes on Rolex: Tag Heuer opens new flagship store in New York City
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLVMH takes on Rolex: Tag Heuer opens new flagship store in New York CityCNBC’s Robert Frank joins 'Squawk on the Street' to discuss LVMH's plan to take on luxury watch maker Rolex.

Persons: Robert Frank Organizations: Rolex Locations: New York City

☆ From 'Barbie' to Formula 1, TAG Heuer is making its mark on the luxury watch market
▼ + stars: | 2023-07-12 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

It plans to more than double its boutiques in the U.S. to 50 by 2026, according to TAG Heuer CEO Frédéric Arnault. Frédéric Arnault, CEO of TAG Heuer. Arnault said TAG Heuer is making strides due in part to marketing wins and new products, such as the new TAG Heuer Monaco Chronograph with a skeleton dial worn by Verstappen, which clocks in at more than $10,000. Gosling has been sporting a 36mm TAG Heuer Carrera with a bright pink dial as part of his promotion of the new "Barbie" movie. Arnault said "Barbie" fans can expect to see other TAG Heuer watches in the film as well.

Persons: Frédéric, Bernard Arnault, Arnault, Max Verstappen, Sergio Perez, Frédéric Arnault, LVMH, Fred, Louis Vuitton, Bulgari, Philippe Nautilus, Ryan Gosling, Gosling, Barbie, Ryan Organizations: LVMH, TAG, TAG Heuer, CNBC, Oracle Red Bull Racing, Monaco, CNBC TAG, Zenith, Carrera Locations: U.S

☆ The Young LVMH Heir Turning TAG Heuer Into a Billion-Dollar Brand
▼ + stars: | 2023-05-14 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com time to read: 1 min

GENEVA—Among the many luxury labels that form LVMH Moët Hennessy Louis Vuitton lies an upper-echelon of brands that generate more than $1 billion in annual revenue, driving the conglomerate’s business. Frédéric Arnault —chief executive officer of TAG Heuer and the third son of LVMH’s top boss, Bernard Arnault —said the Swiss watchmaker is about to join those ranks.

☆ The 28-Year-Old LVMH Heir Turning TAG Heuer Into a Billion-Dollar Brand
▼ + stars: | 2023-05-14 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com time to read: 1 min

Bernard Arnault is the world's richest man, with a net worth of $212 billion. Arnault controls the massive luxury conglomerate LVMH Moët Hennessy Louis Vuitton. All of Arnault's children work at LVMH brands, including Louis Vuitton, Berluti, and TAG Heuer. Along the way, Arnault has brought his five adult children into the fold, building a family-run business that has resulted in the world's largest fortune. Here's how Arnault got his start and became the richest person in the world.

☆ Bernard Arnault, the French luxury tycoon, gathers his 5 kids monthly for a private work lunch and drills them on company strategy, report says
▼ + stars: | 2023-04-19 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Bernard Arnault is the billionaire behind LVMH and was recently crowned the world's richest man. Arnault reportedly hosts a monthly private lunch with his five children to discuss strategy, per WSJ. "At no moment did he [Bernard Arnault] tell me, 'I must prepare my children for my succession," Toledano told The Journal. Toledano told The Journal that Arnault taught kids to prize the company over personal disagreements from a young age. Arnault overtook Jeff Bezos and Elon Musk to become the world's richest person this year.

☆ LVMH CEO Bernard Arnault's wealth soared to a record high of $210 billion on the same day protestors swarmed the company's headquarters in Paris
▼ + stars: | 2023-04-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

LVMH boss Bernard Arnault's fortune soared by $12 billion on Thursday to a record high of $210 billion, per Bloomberg. LVMH shares hit a record high in Thursday trade after a strong first-quarter earnings report. On Thursday, LVMH shares price on the Euronext Paris stock exchange hit a record high of 884.50 euros, or $979, before closing 5.7% higher at 883.90 euros a piece. LVMH's Arnault has featured frequently in protest slogans and chants, per Reuters on Thursday. LVMH shares are extending gains on Friday, trading 0.7% higher at 889.90 euros at 9:57 a.m. in Paris.

☆ LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
▼ + stars: | 2023-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

LVMH boss Bernard Arnault's net worth surpassed $200 billion on Tuesday. Arnault is also the first person outside the US to surpass a net worth of $200 billion. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index. Shoppers in China are expected to boost the luxury goods sector this year after the country lifted COVID-zero restrictions. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO.

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