LVMH worth $500 billion, Arnault overtakes Musk and Bezos in the ranking of billionaires

With an increase in profits over the last 5 years by about 24 percent. and with Q2023 16,8 revenue up 500%, LVMH shares set a new record, becoming the XNUMXth largest company in the world by market capitalization and the first European company to cross the $XNUMX billion mark. The French concern is still far from the American giants, and it is the leader of the ranking Apple Lossless Audio CODEC (ALAC), from USD 2,6 trillion (maximum USD 2,94 trillion in December 2021), but showing a similar P/E ratio in both cases of around 26x (26,7x for Apple and 26,6x for LVMH), therefore investors they can still expect increases from the French power.

The owner of LVMH is the richest man in the world

Valuations they make Arnault Bernard the richest man in the world according to Forbes, with his assets worth about $ 243 billion, he is followed by the owner Tesla Elon Musk ($175 billion) and founder and CEO Amazona Jeff Bezos ($130 billion). Fashion, which outperforms American technology in this case, is more resilient to inflation concerns and even an economic downturn.

Source: eToro

Geographical diversification is conducive to luxury, benefiting from the reopening of China as well as stronger demand in Japan, to the extent that the European and US markets combined account for just under half of total turnover (around 49,3%). The reopening in China shows the best outlook, with double-digit first-quarter momentum boding well for results over the year.