Bernard Arnault, founder of LV

Bernard Arnault, founder of LVMH Group, lost the title of the world's richest man. In early July, Francoise Bettencourt Meyers of L'Oréal also lost the title of the world's richest woman to Alice Walton, the founding family behind Walmart. Overall, so far in 2024, the wealth of about six super-rich people in the luxury sector has evaporated by more than 4%, or about $17 billion by the close of July 15. In contrast, the wealth of others on the world's top 500 richest list increased by $1.0 trillion, or 13%, during the same period. This gap is the largest since May 2022.@

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