$LVMH: First European Company Hit $500B Mkt Cap Drives CEO To Be World's Richest Man
@MillionaireTiger：
Luxury goods giant $LVMH-Moet Hennessy Louis Vuitton(LVMUY)$ is the first European company to surpass $500 billion in market value. Shares of LVMH have risen more than 20% since 2023. The family of LVMH's president is the latest to be crowned the richest in the world by Forbes. In recent years, luxury giants represented by LVMH, Kering, and Hermes International have seen high revenue growth, with the Asian market becoming a major consumer.Strong growth in luxury goodsThe parent company’s brands include Louis Vuitton, Moet & Chandon, Hennessy, Givenchy, Bulgari, and Sephora. And its 17% rise in first-quarter sales more than doubled analyst estimates. That, plus a profit from recurring operations of 21.1 billion euros, marked its second consecu