The stimulus plans from China triggered a stock-market rally, leading five iconic French luxury brand owners to add a staggering $50 billion to their fortunes in just one week, showcasing the power of consumer spending optimism.
Bernard Arnault, the CEO of LVMH, alone increased his wealth by $30 billion, thanks to a remarkable 19% surge in the luxury company's shares. This leap positioned him third in the Bloomberg Billionaires Index.
Françoise Bettencourt Meyers, heir to L'Oréal's fortune, experienced an $8 billion boost in net worth due to escalating shares, cementing her place as one of the wealthiest women globally.
Chanel's Wertheimer brothers saw considerable gains, with each adding nearly $5 billion to their net worth, emphasizing the significant financial impact of the current market dynamics on established luxury brands.
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