These 10 billionaires got $34 billion richer this week, led by luxury goods tycoon Bernard Arnault:
, the world's top 10 billionaire gainers added a total of $33.6 billion to their net worths in the seven days ending Thursday, May 28.
Part of the boost came after the European Union announced a widely anticipated and larger-than-expected $830 million stimulus package for the region on Wednesday; European stocks soared as a result. The blue-chip heavy Euronext 100 index, which includes the stocks of L'Oréal, LVMH and AB InBev—all tied to the week’s top 10 gainers—climbed nearly 6% in the week through Thursday, outpacing the S&P 500’s gain of just under 3%.
LVMH shares ended the seven days up 8%, and Arnault's fortune climbed by $8.1 billion, making the luxury goods tycoon a centibillionaire once again, worth $103.4 billion. Like most of this week's billionaire gainers, however, Arnault's gains came in the wake of recent declines. Back in, the luxury goods kingpin briefly became the richest person on earth , and was worth $117 billion when LVMH stock hit an all-time high.
Several other European fashion and consumer goods powerhouses also jumped this week as increased optimism over economies reopening propped up stocks., Europe's second-richest man and the cofounder and former chair of Spain-based clothing retailer Inditex Group, is the week's second largest gainer. Shares of the Inditex, parent of the Zara chain, surged nearly 10% since last Thursday, adding $4.9 billion to Ortega's fortune, which ended Thursday at $65.7 billion.
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