French Luxury Giant LVMH Touches $500 Billion in Value

Apr 24, 2023 thejournalbiz

Europe’s most valuable company, Paris-based LVMH Moët Hennessy Louis Vuitton, is poised to join a very exclusive club.

LVMH shares reach a new record high, briefly reaching a market value exceeding 500$Billion,

Tweet on LVHH shares

French Luxury Giant LVMH Touches $500 Billion in Value

Europe's most valuable company, LVMH , is set to join a very exclusive club.

Its shares reached a new record high Monday, briefly lifting its intraday market value above $500 billion at current exchange rates#LouisVuitton pic.twitter.com/v3R51nJKND

— The_Journalbiz (@the_journalbiz) April 24, 2023

Bloomberg chart on LVMH

Its shares reached a new record high Monday, briefly lifting its intraday market value above $500 billion at current exchange rates. (The company finished European trading just below that level after rising 0.1%, according to Dow Jones Market Data.)

Only nine listed companies are worth over $500 billion, based on last week’s closing share prices. The list is topped by Apple at $2.6 trillion, and only includes one non-U.S. company, Saudi Arabia’s oil giant Aramco. The next up above LVMH is Tesla, which is worth some $522 billion.

LVMH is owned by Bernard Arnault, the world’s richest person. His wealth surpassed Elon Musk’s late last year. His fashion and luxury conglomerate owns brands including Louis Vuitton, Dior and Tiffany & Co.