World’s Richest Man, Bernard Arnault’s Sons Join LVMH Board

Following a shareholder vote, two sons of the world’s richest man, Bernard Arnault, joined the board of LVMH, consolidating the family’s influence over the French luxury goods giant.

The firm, which owns labels including Dior and Louis Vuitton, now has four of Bernard Arnault’s five offspring on its board of directors.

Alexandre, 31, is the executive vice-president of Tiffany, and Frédéric, 29, is the CEO of Swiss luxury watchmaker Tag Heuer.

Forbes magazine presently ranks Bernard Arnault and his family as the world’s richest people, with a fortune of $214 billion (£172 billion), surpassing Amazon founder Jeff Bezos and Elon Musk, CEO of Tesla and X.

At the shareholder meeting, each son received more than 93% of the vote, which was unsurprising.

The Arnault family group owns 48.6% of LVMH’s capital and 64.3% of the votes, as Arnault admitted soon before the proceedings.

“I’ve got the majority of votes, so …” that’s what he stated.

Two siblings from a previous marriage, Delphine (49), and Antoine (46), are already board members, while Jean (26), the youngest, is still waiting.

“He has time, he’s young,” stated the 75-year-old entrepreneur.

LVMH (Moët Hennessy Louis Vuitton) has proposed Wei Sun Christianson to succeed Antonio Belloni, the group’s number two, who announced his departure at the end of March.

Christianson, who comes from American investment bank Morgan Stanley, is “a great expert on business in China,” according to Arnault, emphasizing the importance of the country’s market.

“The group has a strong presence in China, so it’s important to have precise views on what’s happening,” he said.

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