- Bernard Arnault is the richest man in the world. He has a net worth of $221 billion, according to Bloomberg.
- He controls the huge luxury conglomerate LVMH and his children all hold positions in the company.
- On Thursday, two of his sons joined the board of directors of LVMH. That means four out of five of his children now sit on the board.
Perhaps no name is more synonymous with the world of luxury than that of Bernard Arnault.
Arnault, 75, CEO of French luxury conglomerate LVMH Moët Hennessy Louis Vuitton, or simply LVMH for short, has built his fortune over nearly four decades, building a luxury goods empire that includes some of the best-known fashion brands . , jewelry and alcohol, including Louis Vuitton, TAG Heuer and Dom Pérignon.
In March, he regained the title of the world’s richest person and currently has a net worth of around $221 billion, according to Bloomberg. He, Amazon founder Jeff Bezos and Tesla CEO Elon Musk have traded places from time to time over the past year.
Throughout his path to the top, Arnault integrated his five adult children, building a family business that generated immense wealth and even drew comparisons to the hit HBO series, Succession (which Arnault rejected). .
On Thursday, Arnault announced that two of his sons, Alexandre, vice president at Tiffany, and Frédéric, head of LVMH’s watch division, were joining LVMH’s board of directors. This means that four of his five children have a place on the board of directors.
The move will likely spark further speculation about which of Arnault’s children could one day take over the running of the company.
Here’s a closer look at how Arnault and his family reached the top:
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