Arnault buys €440 million worth of LVMH shares

LVMH chairman, Bernard Arnault, has put even more faith in the world’s premier luxury goods business he controls, by purchasing €440 million worth of shares in the company.

He recently bought €440 million (£375m) of the company’s shares. Arnault bought the stock through companies that he and his family control, as disclosed in statutory documents last week.

LVMH shares have surged more than 20% this year, making Arnault, aged 72, the world’s second-richest person after Amazon’s Jeff Bezos.

He is now worth $162 billion according to the Bloomberg Billionaires Index.