LVMH CEO Bernard Arnault's wealth soared to a record high of $210 billion on the same day protestors swarmed the company's headquarters in Paris
— which owns fashion brands including Louis Vuitton, Tiffany & Co., and TAG Heuer. On Thursday, LVMH shares price on the Euronext Paris stock exchange hit a record high of 884.50 euros, or $979, before closing 5.7% higher at 883.90 euros a piece. The stock is up nearly 35% so far this year.
He is ahead of Tesla CEO Elon Musk and Amazon founder Jeff Bezos, who are in the second and third spots with $180 billion and $126 billion, respectively. The French tycoon's net worthfor the first time ever on April 4, making him the third person ever — after Musk and Bezos — to reach that milestone. Arnault, the chairman and CEO of LVMH, is also the first person outside the US to surpass this level of wealth.
However, the positivity surrounding LVMH's share price was marred when demonstrators protesting the French government's pension reformsPhotos show protestors entering the building, although they stayed just briefly, according to various media reports. "If you're looking for money to finance pensions, take it from the pockets of billionaires," Fabien Villedieu, a union leader for Sud-Rail, told Reuters. He further told the news agency the protest was"symbolic and peaceful.
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