Bitcoin price drops to $30,000 at one point following suggestions that Tesla has sold or will sell its Bitcoin holdings and a new set of regulations from the Chinese government to support their cryptocurrency crackdown.
Under Arnault's leadership, LVMH has grown to become the largest company by market capitalization in the Eurozone, with a record of 313 billion euros ($382 billion) as of May 2021.
Arnault has promoted decisions towards decentralizing the group's brands as a business strategy. As a result of these measures, brands under the LVMH umbrella such as Tiffany are still viewed as independent firms with their own history. For a very brief period on May 24, 2021, Arnault temporarily became the richest man in the world, surpassing Jeff Bezos with a net worth of 187.3 billion dollars. A few hours later, however, Amazon stock ticked up and Jeff Bezos retook the spot and reclaimed it.