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Fashion Tycoons Bernard Arnault and Amancio Ortega Lose $4.5 Billion in a Single Day Amid Market Slump

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    In a dramatic turn of events, two of the world’s most powerful fashion moguls—Bernard Arnault, the chairman of LVMH, and Amancio Ortega, the founder of Inditex (Zara’s parent company)—collectively lost a staggering $4.5 billion in net worth within a single trading day.

    According to Bloomberg Billionaires Index, Arnault and Ortega, both fixtures on the global rich list, were among the hardest hit during Monday’s market selloff, as shares of major luxury and fashion brands faced a sharp decline.

    The Breakdown: Who Lost What?

    • Bernard Arnault, who recently reclaimed the title of the second-richest person in the world, lost $3.5 billion following a significant dip in the value of LVMH shares. The luxury conglomerate—which owns iconic brands like Louis Vuitton, Dior, Fendi, and Moët & Chandon—saw its market value slide amid weakening consumer sentiment in key markets such as China and the U.S.

    • Amancio Ortega, the low-profile Spanish billionaire behind the Inditex empire (which includes Zara, Massimo Dutti, and Bershka), lost around $1 billion, largely due to the soft performance of Inditex stocks on European exchanges.

    These losses contributed to an overall decline in the fortunes of the world’s wealthiest individuals. Over $15 billion in combined wealth was wiped out across the top 10 richest billionaires on Monday alone.

    What’s Causing the Decline?

    Analysts point to several triggers behind the fall in luxury stock prices:

    1. Fading Post-COVID Luxury Boom – After a strong rebound in luxury spending in 2022 and 2023, demand in 2024 and 2025 has started cooling, especially in Asia.

    2. Economic Uncertainty – Rising interest rates, inflation, and concerns about global growth have prompted investors to pull back from high-value stocks, especially those tied to discretionary consumer spending.

    3. China's Slowing Recovery – China, one of the biggest markets for luxury goods, has shown weaker-than-expected economic data in recent months, further impacting confidence in the sector.

    Not Just a Bad Day for Fashion

    Arnault and Ortega weren’t the only ones feeling the heat. Tech giants and other billionaires also saw their net worths take a hit as the global stock market struggled under the weight of growing macroeconomic uncertainty.

    Elon Musk, Jeff Bezos, and Mark Zuckerberg each lost over $1 billion during Monday’s trading session, according to Bloomberg’s real-time billionaire tracking.

    Still Very Rich… Just Slightly Less So

    Despite the losses, both Arnault and Ortega remain comfortably atop the billionaire rankings:

    • Bernard Arnault is still worth over $191 billion, holding tight to the No. 2 spot globally, just behind Elon Musk.

    • Amancio Ortega remains Europe’s richest man, with an estimated net worth of $90+ billion.

    While a $4.5 billion daily loss may sound dramatic, it’s not unusual in the world of billionaires, where net worth often fluctuates wildly based on market performance.

    Final Thoughts

    Monday’s market dip serves as a reminder that even the wealthiest aren’t immune to the tides of the global economy. As inflation pressures, interest rate hikes, and geopolitical concerns continue to rattle markets, more volatility may be on the horizon.

    But for Arnault and Ortega, the fashion industry’s long-term fundamentals—and their towering empires—are unlikely to unravel any time soon.

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