The richest man in the world lost 11 billion in one day

Bernard arnault the worlds richest person lost 112 billion in one day

The founder of brands like louis vuitton and christian dior saw his wealth surge

The european luxury sector has seen a 30 billion drop in share value over the last year

Despite the decline arnaults net worth remains at 1916 billion

The msci europe textiles apparel luxury goods index surged 27 this year after a long rally

Attendees at a luxury conference in paris didnt feel as though their performance was subdued

According to analysts atdeutsche bank investors will be more cautious with european luxury stocks