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Mr Arnault owns about half of the huge luxurious model firm.
Bernard Arnault, Chairman and CEO of Louis Vuitton (LVMH) and the world’s richest man reportedly meets his 5 kids as soon as a month for lunch inside a non-public eating room on the headquarters of LVMH Moet Hennessy Louis Vuitton SE. In keeping with a report by Wall Avenue Journal, the lunch lasts for 90 minutes and begins with the French billionaire studying off his iPad the dialogue subjects. Mr Arnault discusses technique at his luxurious enterprise empire.
In keeping with WSJ, Mr Arnault then goes across the desk asking his 5 grownup kids for recommendation. The 74-year-old billionaire seeks an opinion on particular managers on the firm, the individuals mentioned, or whether or not it is time for a shake-up at considered one of LVMH’s myriad manufacturers.
Mr Arnault successfully auditions them to see who will take over the posh empire. Nonetheless, the billionaire has given no indication of whom he’ll select as his successor, saying solely that will probably be based mostly on benefit.
WSJ report mentioned that these month-to-month periods are a part of the decades-long plan to arrange his kids who will take over the corporate when he’s not there.
In keeping with the Bloomberg Billionaires Index, Mr Arnaut pulled forward of Tesla CEO Elon Musk late final 12 months because the wealthiest particular person on the planet. His wealth was $208 billion on April 19, in line with the index.
Mr Arnault owns about half of the huge luxurious model firm. In 1989, he acquired a controlling stake in LVMH. The corporate’s portfolio of manufacturers consists of Louis Vuitton, Bulgari, Tiffany, Sephora, TAG Heuer and Dom Perignon champagne.
The world’s richest man has additionally appointed his kids to vital positions inside the firm. Delphine, the eldest of his kids, was named the top of the second-largest model within the empire Christian Dior. The place of managing the holding agency that oversees LVMH and Mr Arnault’s household fortune was given to her brother Antoine, as per the outlet. Frederic Arnault is the CEO of TAG Heuer, Alexandre Arnault is an government at Tiffany and Jean Arnault, who’s the youngest of the Arnault siblings, is answerable for advertising and marketing and product improvement for Louis Vuitton’s watch division.
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