BySiladitya Ray,
Forbes Staff.
The fortune of Bernard Arnault—Europe’s richest person—shrank by $12.5 billion on Tuesday after a threat by President Donald Trump to impose 200% tariffs on French wines and champagnes tanked the shares of his luxury goods conglomerate LVMH.
Louis Vuitton Moet Hennessy’s Paris-listed shares fell more than 3% to €565.10 ($663) on Tuesday, after Trump issued the threat on Monday night.
LVMH owns several key French luxury liquor brands like Moët & Chandon, Dom Pérignon, Château Cheval Blanc, Veuve Clicquot, Ruinart and Château d'Yquem.
