World's richest man lost $11bn in one day


Content Team
Image Credit: rclipse

Bernard Arnault, the 74-year-old chairman, and CEO of LVMH, is the first European to climb to the top of the world's richest list. The French tycoon, however, suffered a multi-billion dollar setback. The man who is responsible for Louis Vuitton bags, Cristian Dior couture, and Tiffany jewelry saw his fortune dip by $11.2 billion in a single day. The multi-billion dollar hit Arnault's wealth took is courtesy of a fall in luxury stocks across Europe.