LVMH CEO Bernard Arnault emerged as the biggest winner in a week of first-quarter earnings reports that affected the stock prices of companies like JPMorgan Chase & Co. and BlackRock.
Arnault's fortune soared by $19 billion after LVMH announced a 17% increase in first-quarter sales, causing the share price to hit an all-time high of nearly $984. The surge in fortune comes despite protesters storming LVMH's Paris headquarters in opposition to the French government’s pension overhaul.
Meanwhile, other billionaires experienced declines in their fortunes, including the founders of Block, whose stock is down 6% from three weeks ago, and Tencent's Ma Huateng, whose shares fell due to major shareholders planning to cut their holdings in the Chinese tech giants.
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