Bernard Arnault and his family have solidified their control of the French luxury goods company LVMH by electing two of his sons, Alexandre and Frédéric, to the board. This move brings the total number of Arnault’s children on the board to four out of five. The shareholder meeting where the sons were elected saw overwhelming support, with each son receiving over 93% of the votes cast.
Bernard Arnault and his family are currently ranked as the wealthiest individuals in the world, with a combined fortune of $214 billion. This surpasses other prominent figures such as Jeff Bezos of Amazon and Elon Musk of Tesla and SpaceX. The election results were a formality due to the level of ownership held by the Arnault family group, which owns 48.6% of LVMH’s capital and controls 64.3% of the votes.
While two other children from a previous marriage, Delphine and Antoine, are already serving on the board, Jean, who is only 26 years old, will have to wait his turn. However, with Wei Sun Christianson being nominated to succeed Antonio Belloni as LVMH’s number two executive at the end of March, Jean may soon find himself in a position to contribute his unique insights into LVMH’s business landscape. Christianson specializes in business in China, which is a crucial market for LVMH. With a notable presence in China, having an expert like Christianson on board will provide valuable insights into
