Billionaire Bernard Arnault Warns Of ‘World Catastrophe’ If Iran War Is Unresolved
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BreakingBusinessBillionaire LVMH CEO Bernard Arnault Warns Of ‘World Catastrophe’ If Iran War Is UnresolvedByTy Roush,Forbes Staff. Ty Roush is a breaking news reporter based in New York City.Follow AuthorApr 23, 2026, 09:47am EDTApr 23, 2026, 09:55am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineBillionaire LVMH CEO Bernard Arnault on Thursday warned the Iran war could result in a “world catastrophe” if left unresolved, a rare comment from one of the world’s richest people on the conflict, as luxury brands have reported a slowdown in demand in recent weeks. Luxury brands cited a slowdown in demand throughout the conflict, disrupting earnings. Getty ImagesKey FactsArnault, who spoke Thursday during LVMH’s annual shareholder meeting in Paris, said the world is “now in a pretty serious crisis in the Middle East” and warned the Iran war could spiral into a “world catastrophe with very serious and very negative economic impact,” according to a translation by LVMH.Should the conflict persist, Arnault said it would be impossible to predict the outcome, but noted a resolution would allow businesses to recover and “resume their normal course.”LVMH last week reported the Middle East conflict had a 1% negative impact on organic growth through its latest quarter, citing a slowdown in tourist spending throughout Europe, and chief financial officer Cécile Cabanis said during an earnings call there has been an up to 70% decline in demand since the war began in late February.Shares of LVMH, which trade at the Euronext Paris stock exchange, dropped slightly (0.2%) as of Thursday morning. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec...
