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Bernard Arnault lost $24B in 2024 due to China’s economic struggles. However, China's stimulus package boosted LVMH shares by 20%, pushing Arnault's net worth back over $200B. Will China’s luxury spending rebound? Stay tuned!

LVMH Billionaire Bernard Arnault's $24 Billion LOSS & SHOCKING Comeback | China's Economy EXPLAINED

Bernard Arnault lost $24B in 2024 due to China&rsquo;s economic struggles. However, China's stimulus package boosted LVMH shares by 20%, pushing Arnault's net worth back over $200B. Will China&rsquo;s luxury spending rebound? Stay tuned!

Bernard Arnault, the owner of luxury behemoth LVMH, saw the sharpest decline in his wealth in 2024 compared to any other billionaire on the planet &ndash; but that was only until the last week of September.
Then, in a sudden change of fortune, his net worth soared &ndash; propelling him to greater heights once again. But what made Bernard Arnault's wealth jump billions of dollars in a day? Stay with us to find out.
The LVMH owner lost a massive 24 billion dollars in 2024, more than any other billionaire. This drop happened as the Chinese economy continued to struggle. But how is Bernard Arnault's wealth tied to China?
Arnault, who owns nearly half of LVMH&mdash;the luxury giant behind Louis Vuitton, Dior, and Tiffany &amp; Co.&mdash;relies heavily on Chinese consumers. Around 20% of LVMH's global sales come from China.
As China's middle and upper-middle classes have grown, they've become a crucial market for luxury brands. Now, while in good times this mega market is good news for luxury brands &ndash; in bad times, it also hits brands sold by the likes of LVMH hard.
In 2024, China has been facing its toughest challenges since the Maoist era. The country's growth has stalled, unemployment is high, and the housing market is collapsing, shaking public confidence. Global agencies expect China to fail to meet its five percent growth target for the year &ndash; calling it an ambitious figure.
However, Chinese policymakers are trying to jumpstart the struggling economy with a supercharged stimulus package. Simply put, China has announced steps to help boost growth, with a focus on getting people to spend more.
Among the measures unveiled on the 24th of September, the People's Bank of China, the country's central bank, has cut interest rates, lowered the amount of cash banks must hold in reserve, and taken steps to reduce the cost of existing home loans. The Chinese central bank expects the move to inject around a trillion yuan or 142 billion dollars in "long-term liquidity" into the financial market. People on the streets of Beijing welcomed the new measures, but with some scepticism.
Now, to allay this scepticism, Chinese policymakers have gone a few steps further. Various Chinese cities, including Shanghai and Shenzhen, have eased home-buying rules to boost housing sales. The Chinese central government is also planning to hand out subsidies to citizens to replace their old vehicles, equipment and appliances with new ones.
This razor-sharp focus on reviving consumption has triggered a euphoric reaction across China's equity markets. Chinese stocks have witnessed one of their best runs in almost a decade and a half.
This euphoria has also had a huge impact on shares of Bernard Arnault's LVMH as investors expect the stimulus measures to revive China's hunger for luxury goods. During the 23rd to 27th of September trading week, LVMH shares jumped almost twenty percent &ndash; and that translated to Bernard Arnault's net worth once again rising above 200 billion dollars.
Do you think China's economic stimulus will successfully boost luxury spending? Why or why not? Let us know in the comments. Also tell us if you want us to do an in-depth analysis of any other economic issue.

According to both Forbes and Bloomberg, Mr Musk has been overtaken at the top spot by Bernard Arnault, the chief executive of luxury goods group LVMH.

Bernard Arnault overtakes Musk to be World's richest; but who is he?

Bernard Arnault, World's new richest 

According to both Forbes and Bloomberg, Mr Musk has been overtaken at the top spot by Bernard Arnault, the chief executive of luxury goods group LVMH.

Elon Musk, Twitter's new boss and Tesla CEO, is no longer the world's richest man after a sharp drop in the value of his shares in electric car company Tesla this year. Bernard Arnault, the French tycoon behind luxury-goods powerhouse LVMH, surpassed Twitter owner Elon Musk on the Bloomberg Billionaires Index, marking the first time he&rsquo;s topped the list of the wealthiest people. Never before has anyone from France &mdash; or Europe as a whole &mdash; laid claim to having the largest fortune on the planet. &nbsp; According to Forbes, Mr Musk is now worth about $178bn (&pound;152bn). Meanwhile, Bernard Arnault has a value of $188bn.
Musk has been the world&rsquo;s richest person since September 2021 after he overtook Amazon founder Jeff Bezos. Arnault made his fortune by building the world&rsquo;s largest luxury goods company, including brands like Louis Vuitton but also Tiffany, Celine and Tag Heuer.

Elon Musk lost world's richest person title to LVMH's Arnault

This happened due a sharp drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm

After a wealth plunge for almost $100 billion this year, Twitter owner and Tesla Inc boss Elon Musk lost his title as the world's richest person.&nbsp;
Musk dropped to the second spot on Forbes&rsquo; list of &ldquo;Real-Time Billionaires,&rdquo; putting the Twitter and Tesla CEO behind Bernard Arnault, CEO of French luxury brand LVMH, maker of Louis Vuitton luxury goods and Hennessy cognac. Forbes now pins Musk&rsquo;s wealth at $183.6 billion, slightly below Arnault&rsquo;s wealth estimated at $186.2 billion.
Forbes noted that Arnault&rsquo;s ascent is because LVMH&rsquo;s stock is mostly flat this year, while Musk has experienced a &ldquo;dramatic collapse of Tesla&rsquo;s share price,&rdquo; which is down 56% in 2022. Musk&rsquo;s strategy of cavorting with right-wing influencers on Twitter may also be impacting Tesla shares as well. Musk&rsquo;s wealth peaked in November 2021, when he was worth $320 billion, Forbes said.

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