Louis Vuitton chairman and CEO Arnold sees his five children only once a month, Wall Street Journal reports. He had lunch with his children for 90 minutes that day. Besides, he also discussed business with them while eating.
According to sources close to Arnault, he wandered around the table during lunch with his children. At that time, he had an iPod in his hand. 74-year-old Arnault wants to know his children’s opinion on various business matters while eating.
However, some experts claim that this is how the French billionaire is testing his children. Arnault will announce the successor to his business empire in a few days. However, he has not made any official announcement about this yet.
Which of the five children will Arnault leave his chair? In a recent interview, he said, “This decision will be taken on the basis of merit. I will not give any special privilege to any of the children.”
According to sources, billionaire Arnault had been planning to meet his children once a month for a long time. However, it is not yet clear when he will announce the name of the successor.
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According to the Bloomberg Billionaires Index, Arnault overtook Tesla CEO Elon Musk last year. Until now Musk was the richest man in the world.
According to the data published on April 19 of last year, Arnold’s assets amount to 208 billion US dollars. In Indian currency which is more than 17 lakh crores.
In 1989, Arnault acquired a stake in LVMH. The French billionaire currently controls half of the world’s luxury goods brands. These include Louis Vuitton, Bulgari, Tiffany, Sephora, Tag Heuer and Dom Pérignon Champagne.
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It should be noted that during the last few years, billionaire Arnault has placed his sons and daughters in various important positions in his company. His eldest son is named Delphine. He is responsible for the company’s second largest brand, Arnault.
Delphine’s brother Antoine is in charge of the firm overseeing Arnault’s company. On the other hand, their younger brother Frédéric Arnault is also the CEO of the company. Youngest son Jean Arnault is in charge of marketing.