Bernard Arnault & family $29 B 64 LVMH France
The world's most influential tastemaker, Bernard Arnault fell from No. 4 in the world to No. 10 not because his luxury goods powerhouse LVMH dropped in value - its shares were up 6% in fact - but due to more information on his ownership stake and a revised valuation method. Another factor: His fortune is mostly held in Christian Dior, which has a 41% stake in LVMH and trades at a near 20% discount to the underlying shares. Arnault denied reports that his request for Belgian citizenship last year was related to the country's tax regime, but it nevertheless sparked a debate about France's taxes on the rich. It was announced in October that he will be knighted for his services in the U.K. He is opening his new museum, the Louis Vuitton Foundation for Creation, designed by Frank Gehry, by the end of this year. Arnault apparently wooed his wife, Helene Mercier, a concert pianist, by playing Chopin and other classical composers.
The world's most influential tastemaker, Bernard Arnault fell from No. 4 in the world to No. 10 not because his luxury goods powerhouse LVMH dropped in value - its shares were up 6% in fact - but due to more information on his ownership stake and a revised valuation method. Another factor: His fortune is mostly held in Christian Dior, which has a 41% stake in LVMH and trades at a near 20% discount to the underlying shares. Arnault denied reports that his request for Belgian citizenship last year was related to the country's tax regime, but it nevertheless sparked a debate about France's taxes on the rich. It was announced in October that he will be knighted for his services in the U.K. He is opening his new museum, the Louis Vuitton Foundation for Creation, designed by Frank Gehry, by the end of this year. Arnault apparently wooed his wife, Helene Mercier, a concert pianist, by playing Chopin and other classical composers.
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