Louis Vuitton LVMH owner Bernard Arnault loses $1.6 billion in one day on Trump's French tariffs threat

2 min read
fairly difficult
Bernard Arnault, who owns 50% of the luxury goods group, sees stock drop as U.S. threatens levies on Champagne and more.
The billionaire owner of French luxury group LVMH lost a mini fortune — about $1.6 billion — the day after President Donald Trump targeted high-end French goods like Louis Vuitton bags and Moët champagne with U.S. tariffs.

Mr. Trump vowed Monday to impose tariffs of up to 100% on $2.4 billion in French goods like Champagne, cheese and handbags in retaliation for France's tax on digital services targeting U.S. tech giants such as Google, Facebook and Amazon.

Mr. Trump's threat particularly hurt publicly traded LVMH, one of the world's largest Champagne producers under French winery Moët & Chandon. The luxury products group — 50% owned by Chairman and CEO Bernard Arnault and his family — also makes and sells such distinctive fashion brands as Bulgari, Christian Dior, Fendi and Marc Jacobs.

LVMH shares fell 1.5% during Tuesday trading in Paris, costing Arnault around…
Sarah Min
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