“The Richest Man in the World, Bernard Arnault, Loses $11.2 Billion Due to Weakening US Economy and Decline in European Luxury Goods sector”
Frenchman Bernard Arnault, as the richest man in the world, lost $11.2 billion of his fortune in one day, due to fears that a weak US economy would reduce demand for luxury goods. The founder of LVMH, whose brands include Louis Vuitton handbags, Moet & Chandon Champagne and Christian Dior dresses, for the better part … Read more