LVMH Becomes First European Company , to Reach $500 Billion in Market Value.<br />'The Guardian' reports that shares <br />in the French luxury goods company <br />closed up 90 euro cents on April 24.<br />LVMH, which boasts high-end brands like <br />Louis Vuitton, Christian Dior, Bulgari and more, .<br />reached a market capitalization of <br />half a trillion dollars as a result.<br />'The Guardian' reports that LVMH exceeded analysts' expectations with a 17% increase in Q1 sales.<br />Last year, the company achieved record sales and has since begun a share buyback program. .<br />Its shares have skyrocketed 30% so far <br />in 2023, making it one of the world's <br />10 most valuable listed companies.<br />As a result, Bernard Arnault's stake in the company sits at $212 billion, solidifying his place as the richest person in the world.<br />Elon Musk is currently the second-richest person <br />in the world, $47 billion behind Arnault. .<br />'The Guardian' reports that other luxury companies <br />such as Hermès, Kering and Burberry have experienced <br />an increase in sales and share prices as well.<br />'The Guardian' reports that other luxury companies <br />such as Hermès, Kering and Burberry have experienced <br />an increase in sales and share prices as well
