- Bernard Arnault is the world’s third richest man. He has a net worth of $171 billion, according to Bloomberg.
- He controls the massive luxury conglomerate LVMH, and his children all hold roles in the business.
- His eldest son, Antoine Arnault, will be stepping down from his role as CEO of Berluti in January.
No name is perhaps more synonymous with the world of luxury goods than Bernard Arnault.
Arnault, the 74-year-old CEO of French luxury conglomerate LVMH Moët Hennessy Louis Vuitton, or just LVMH for short, built his fortune over the span of almost four decades, amassing a luxury-goods empire that includes some of the best-known brands in fashion, jewelry, and alcohol, including Louis Vuitton, TAG Heuer, and Dom Pérignon.
He’s now the third wealthiest man in the world, with a net worth of about $171 billion, according to Bloomberg, though he, Amazon founder Jeff Bezos, and Tesla CEO Elon Musk have traded places on and off.
Along the way, he’s brought his five adult children into the fold, building a family-run business that has resulted in immense wealth and even drawn comparisons to the hit HBO show Succession (which Arnault has dismissed).
This week, LVMH announced that Arnault’s eldest son, Antoine, would be stepping down from his post as the CEO of Berluti, a luxury shoe brand expected to draw close to $300 million in sales this year. When the change goes into effect in January, Antoine will remain chairman.
Here’s a closer look at Arnault family.
Read the full article here
