- Bernard Arnault is the world’s richest man. He has a net worth of $221 billion, per Bloomberg.
- He controls the massive luxury conglomerate LVMH, and his children all hold roles in the business.
- On Thursday, two of his sons joined LVMH’s board. Meaning that four out of five of his children now sit on the board.
No name is perhaps more synonymous with the world of luxury goods than Bernard Arnault.
Arnault, the 75-year-old CEO of French luxury conglomerate LVMH Moët Hennessy Louis Vuitton, or just LVMH for short, built his fortune over 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.
In March, he reclaimed the title of the world’s richest person, and currently has a net worth of about $221 billion, according to Bloomberg. He, Amazon founder Jeff Bezos, and Tesla CEO Elon Musk have traded places on and off over the past year.
Along the way to the top, Arnault has 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).
On Thursday, Arnault announced that two of his sons — Alexandre, a VP at Tiffany, and Frédéric, head of LVMH’s watches division — are joining LVMH’s board. This means four of his five children have places on the board.
This decision will likely spark renewed speculation about which of Arnault’s children might one day take over the running of the business.
Here’s a closer look at how Arnault and his family rose to the top:
