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The Wolf in Cashmere Fights for His Throne
Summary by European Business Magazine
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The Wolf in Cashmere Fights for His Throne
EBM WEEKEND READ By Nick Staunton Five days ago, a Paris court handed Bernard Arnault a tax bill for €22.5 million. For most people that would be the story of the decade. For the chairman of LVMH, it is a rounding error — roughly the value of a single 0.02% move in the shares he controls. It is worth pausing on that scale. Arnault is worth somewhere between $145 billion and $190 billion, depending on the day and the estimator, and almost all of …
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