World Socialist Web Site wsws.org 07 Apr, 2021 23:00 am

Europe’s billionaires’ wealth surges in a year of the coronavirus pandemic

Europe’s billionaires’ wealth surges in a year of the coronavirus pandemic
The pandemic saw increased mass death, hardship, unemployment, poverty, social isolation, and suffering for Europe’s workers, and unprecedented wealth for its billionaires.

The richest individual in Europe, and third richest in the world, remains Bernard Arnault, the lead shareholder of the luxury fashion retail group LVMH.Besides Arnault, four other French individuals are among the 10 richest of Europe, all of them owing their fortunes to high-end designer clothing and luxury item share prices.Francoise Bettencourt Meyers, the third richest in Europe, with $73.François Pinault, fifth richest in Europe, with $45.

Brothers Alain and Gerard Wertheimer, the eighth and ninth richest in Europe, with $35.His wealth has almost doubled from $76 billion a year ago to $150 billion today, due to a surge in LVMH share prices since March 2020, from €311 on March 20, 2020 to €577.

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