The market value of LVMH, the group of luxury tycoon Bernard Arnault, is approaching that of Tesla, the company run by Elon Musk, for the first time in several months. The fortune of the French businessman, the richest person in the world, greatly exceeds ($70 billion) the fortune of Elon Musk, the second richest person in the world.
The luxurious French conglomerate LVMHbehind brands such as Tiffany & Co., Christian Dior and Moët Hennessy, was the market capitalization 484 billion dollars Tuesday, April 25th at 11 a.m. EST.
For its part, Tesla had a market capitalization of 510 billion dollars At the same time, after the company’s shares fell, bringing its share in April to 22%, all amid investors’ fears of shrinking profit margins.
This is the first time since mid-January that the market has been capitalized LVMH comes close to it Are you hereAccording to data from YCharts.
According to estimates ForbesWealth Bernard Arnault amounts to $240.4 billionalso $67.1 billion more than a fortuneElon Muskwhich is up to $173.3 billion. About 97% of Bernard Arnault’s wealth comes from his 48% stake in LVMH, while Elon Musk’s 23% stake in Tesla accounts for about 58% of his net worth.
LVMH It achieved another major milestone earlier this week, becoming the first European company to pass a $500 billion valuation. Tesla and LVMH are number 10H and 11H The world’s most valuable companies, according to corporate market capitalization. Bernard Arnault overtook Elon Musk as the world’s richest person in December. Elon Musk’s net worth is down 15% to date.
Translated article from the American magazine Forbes – Author: Derek Saul
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