LVMH CEO Bernard Arnault testified in a French trial, denying any involvement in an alleged spying and intelligence peddling scheme involving former French intelligence chief Bernard Squarcini. The trial centers around accusations of using security contacts for private gain, impacting LVMH’s reputation amid already declining revenue.
Bernard Arnault, CEO of luxury giant LVMH, has experienced a significant decline in his net worth, dropping from the top spot to nearly fifth place on the Bloomberg Billionaires Index. The decline is attributed to a drop in LVMH’s stock price and challenges in the luxury goods market.
French billionaire Bernard Arnault, CEO of luxury goods conglomerate LVMH, has been aggressively investing in artificial intelligence (AI) startups through his family office, Aglaé Ventures. His investments, totaling over $300 million in 2024 alone, reflect a strategic move to diversify his portfolio and stay ahead of the curve in the rapidly evolving technology landscape.
