Philenews

Europe's Richest Man Loses $12.5B After Trump Threatens Tariffs

Published January 23, 2026, 07:16
Europe's Richest Man Loses $12.5B After Trump Threatens Tariffs

The wealth of Bernard Arnault, Europe's richest man, decreased by $12.5 billion on Tuesday, following President Donald Trump's threat to impose a 200% tariff on French wines and champagnes. Shares of LVMH, the luxury goods conglomerate that owns significant alcoholic beverage brands, plummeted. Trump's threat came in response to French President Emmanuel Macron's reluctance to join a peace council for Gaza. This move is part of a series of tariff threats by Trump towards European countries. Despite the decrease in his wealth, Arnault remains the richest man in Europe and the 7th richest in the world.