Trending Now - Billionaire Warns of Global Economic Crisis Amid Middle East Tensions

WHO:

WWD - Bernard Arnault, chairman and CEO of LVMH Moët Hennessy Louis Vuitton.

Alternet - President Trump, described as a close friend and political ally of Bernard Arnault.

WHAT:

WWD - Arnault warned that the conflict in the Middle East could lead to a “catastrophe” for the world economy in 2026.

WWD - LVMH reported a 5.9 percent decline in revenues in the first quarter of 2026 on a reported basis, with a 1 percent increase in organic terms.

WWD - The Middle East conflict negatively impacted LVMH's group organic growth by 1 percent.

Alternet - Arnault stated that the first-quarter organic sales growth for LVMH was slashed to just 1 percent.

WHERE:

WWD - The annual general meeting took place in Paris.

WWD - The Dior store is located on Avenue Montaigne in Paris.

WWD - LVMH's boat-shaped flagship is located in Shanghai.

WHEN:

WWD - Arnault made his comments on April 21st, 2026.

WWD - LVMH's revenues fell in the first quarter of 2026.

WWD - Arnault mentioned that he expects to remain at the helm of LVMH for another “seven or eight years” at least.

Alternet - The report noted that LVMH's stock price began the year around 700 euros and has dipped by 35 percent since February 2026.

WHY:

WWD - Arnault expressed concern that the outcome of peace talks between the United States and Iran is uncertain, affecting economic forecasts.

Alternet - Arnault indicated that the war with Iran might be pushing the world economy to the brink of a major catastrophe.

HOW:

WWD - Arnault discussed the unpredictability of the economic situation, stating it could either lead to a global catastrophe or a quick resolution that would allow business to return to normal.

WWD - Arnault mentioned that LVMH is producing products as quickly as possible, with artisans working on one product at a time.

(UPDATED April 24, 2026 05:53 UTC)

Bernard Arnault, chairman and CEO of LVMH, warned on Tuesday that the ongoing conflict in the Middle East could lead to a catastrophe for the world economy in 2026. LVMH reported a 5.9 percent decline in revenues for the first quarter of 2026, with organic growth slashed to just 1 percent, largely due to the negative impact of the Middle East conflict. Arnault expressed uncertainty about the outcome of peace talks between the United States and Iran, emphasizing the unpredictability of the economic situation and the potential for either a global catastrophe or a swift resolution.