Louis Vuitton bags Tiffany; new travel alert for holiday fliers
Morning Business Outlook: LVMH, the luxury brand owner of Louis Vuitton, announces it will be purchasing Tiffany & Co. for an estimated $16.2B; thousands of airline catering workers at several major airports are threatening to strike ahead of the Thanksgiving holiday.
Bernard Arnault is the billionaire chairman and CEO of French luxury giant LVMH and currently the richest person in Europe and the fourth richest in the world with a total net worth of $92.6 billion, according to Forbes data.
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The 71-year-old was born in France to a father who was a successful construction businessman, Forbes reported. In 2019, he made earned an estimated profit of 35.1 billion euros, or approximately $38.6 billion.
|LVMUY||LVMH MOËT HENNESSY LOUIS VUITTON SE||75.46||-6.01||-7.38%|
|TIF||TIFFANY & CO||130.04||-2.66||-2.00%|
WHAT IS BERNARD ARNAULT'S NET WORTH?
The married father of five – whom the outlet described as being “one of the world's ultimate taste-makers” – oversees more than 70 luxury brands, including Louis Vuitton, Moet Chandon, Sephora, Dior and, most recently, Tiffany & Co.