Bernard Arnault's Fortune Rises By $19 Billion As LVMH Stock Surges After Postive Earnings

Core Insights - LVMH's shares surged over 14% following a quarterly earnings report that showed sales growth for the first time this year, primarily driven by increased demand in China [1][2] - Bernard Arnault's net worth increased by more than $19 billion, reaching $181.8 billion, making him the seventh richest person globally [3] Financial Performance - LVMH reported third-quarter sales of €18.28 billion ($21.25 billion), a 1% year-over-year increase, surpassing analyst expectations [2] - The "selective retailing" unit, which includes Sephora, experienced the strongest growth at 7%, while Wines & Spirits, Perfumes & Cosmetics, and Watches & Jewelry reported growth rates of 1%, 2%, and 2% respectively [2] Market Position - Following the stock surge, LVMH's market capitalization reached €304.89 billion, making it Europe's second most valuable company and the world's leading luxury brand, surpassing Hermès [4] Regional Insights - Sales in Europe and the U.S. remained stable year-over-year, while Japan saw a decline; however, sales in the rest of Asia, particularly in mainland China, showed significant improvement [5]