In France, the head of Louis Vuitton Moët Hennessy, Bernard Arnaud, lost over $ 30 billion, according to the Bloomberg Billionaires Index.
According to the agency, this is the maximum amount that one person lost during the crisis.
Because of the coronavirus pandemic, most of the Arno-owned boutiques around the world had to close for more than a month, Bloomberg notes.
It is emphasized that in the current year the value of LVMH shares fell by 19%.
The company’s financial director, Jean-Jacques Gioni, explained that the future of Arnault’s business will depend on the Chinese market, which accounts for more than a third of luxury goods sales.
Back in March, the wealth of the world’s 20 richest people fell by almost 300 billion dollars due to the impact of the pandemic on the markets. According to Forbes, Arno lost the most.
So far, the entrepreneur is on the third line of the Forbes list with a fortune of $ 90 billion. In the first and second places are Amazon CEO Jeff Bezos and Microsoft founder Bill Gates, they each have 141.8 and 105.7 billion respectively.