Bernard Arnault, head of luxury-goods conglomerate LVMH, has a net worth larger than that of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty Images
LVMH Moët Hennessy Louis Vuitton reported a sharp slowdown in sales growth as the world’s biggest luxury-goods company struggled to lure big-spending Chinese consumers back to its boutiques after the end of China’s pandemic restrictions.
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