LVMH Chairman's Wealth Jumps 27 Trillion Won in a Day on Strong Earnings
The stock price of French luxury group LVMH Mo?t Hennessy Louis Vuitton soared, increasing Chairman Bernard Arnault's wealth by approximately 27 trillion won in a single day.
On October 16 (local time), France's BFM TV, citing Bloomberg data, reported that Chairman Arnault's wealth surged by 18.8 billion dollars (about 26.7 trillion won), reaching a total of 192 billion dollars (about 273.4 trillion won).
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On October 14, LVMH announced that its third-quarter revenue grew by 1% on an organic basis, ending a two-quarter decline. All business divisions of the group exceeded analysts' expectations, and the recovery of the Chinese market played a significant role. The next day, on October 15, LVMH's stock price jumped by 12.5%.
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