Lvmh, Bernard Arnault and the succession of the richest man in the world
Every month, Bernard Arnault – the richest man in the world – invites his five children to lunch at the headquarters of his luxury giant Lvmh. But this is no ordinary family meal where you catch up on what was done over the weekend. How writes the Wall Street Journal, Arnault, 74, comes around the table and questions his children, one by one, about how the company should operate.
Arnault tests her children to find the right fit to take over the nearly $500 billion family business. Delphine, 48, Antoine, 45, Alexandre, 30, Frédéric, 28 and Jean, 2. Among these names will have to emerge the next boss to lead Lvmh and its brands Louis Vuitton, Christian Dior and Tiffany&Co.
When asked which of his sons he saw as a possible successor, Arnault told a friend of his over lunch near the Champs-Elysees, “Well, I have five,” before his voice trailed off.
And now it has emerged that one tactic Arnault is using to identify who will replace him is to audition his children during monthly luncheons at his headquarters Lvmh in Paris. Arnault begins each lunch by reading the discussion topics from his iPad before going around the table and asking each of his children for advice.
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