3 Billionaire Stocks to Buy From the Latest Stock Market Correction

Market Overview - The S&P 500 experienced a significant decline of 6.1% from July 31 to August 5, with a peak drop of 8.5%, indicating a potential correction [1] - On August 2, nearly $3 trillion was lost in the market as concerns about a global recession grew [1] - The world's 500 wealthiest individuals lost a total of $134 billion on August 2, with notable losses including $17 billion for Elon Musk and $16 billion for Jeff Bezos [1] Amazon (AMZN) - Jeff Bezos's net worth decreased to $191 billion after losing $16 billion, but he has gained $13.3 billion in 2024 [3] - Amazon's revenue grew from $232.89 billion in 2018 to $469.82 billion in 2023, with a compound annual growth rate (CAGR) of 15.1% [3] - The operating income increased from $12.42 billion in 2018 to $36.85 billion in 2023, reflecting a CAGR of 24.3% [3] - Amazon's share price CAGR is 15%, which is lower than its operating income growth, suggesting potential undervaluation [4] LVMH (LVMH) - Bernard Arnault, CEO of LVMH, has seen his net worth drop by $23.8 billion in 2024, currently standing at $184 billion [6] - LVMH's stock is down over 11% year-to-date and has decreased nearly $21 over the past 52 weeks, with a five-year gain of 81% [6] - The company reported a 14% decline in Asia sales (excluding Japan) in Q2 and a 14% drop in net profit to €7.27 billion ($7.99 billion) for the first half of 2024 [7] - Despite the challenges, LVMH's free cash flow increased by 74% to €3.13 billion ($3.44 billion), representing 7.5% of revenue [7] Estee Lauder (EL) - Leonard Lauder's net worth fell by 21% or $4.1 billion in 2024, with Estee Lauder stock down 37% year-to-date and nearly 49% over the past five years [8] - The company announced a restructuring plan that could cut up to 5% of its global workforce, with costs estimated between $500 million and $700 million [8] - The restructuring is expected to increase gross profits by $350 million to $500 million, raising operating profit to $1.25 billion from $900 million [8] - Estee Lauder is undergoing initiatives to streamline operations and exit unprofitable brands, which could present a compelling risk/reward opportunity for aggressive investors [9]