LVMH Closing On Tesla (TSLA US) for World’s Ninth-Biggest Listed Company

LVMH, the world’s largest luxury goods conglomerate, is reportedly in talks to purchase a large stake in Tesla, the electric vehicle pioneer. If the deal were to go through, Tesla would become the ninth-biggest listed company in the world, valued at around $900 billion. The acquisition would mark yet another major expansion of LVMH’s already diverse portfolio, which includes brands such as Louis Vuitton, Dior, and Moët & Chandon. The luxury goods giant has been looking to expand into the sustainability sector and Tesla is seen as a key player in the electric car market. Furthermore, the acquisition would help LVMH reduce its reliance on the hard-hit luxury goods industry, which has been struggling amid the pandemic. This potential deal is a reflection of the growing importance of sustainable practices and electric cars in the business world. The combination of LVMH’s extensive resources and Tesla’s technology could create a powerful partnership that drives innovation and progress towards a greener future.