Bernard Arnault news and archive

Bernard Arnault secures LVMH Group control for next 30 years

French billionaire Bernard Arnault has solidified his control over the LVMH Group for the next three decades. The transition, originally set to occur upon his passing, has now been triggered by his youngest child, Jean Arnault, turning 25, reported Italy’s ll Sole 24 Ore newspaper. Instead of control shifting to a Belgian foundation, it will...

People

French billionaire investigated in money laundering probe

Paris - French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort, according to Paris prosecutors. The probe concerns their activities in Courchevel, a ski resort in the French Alps known for being a playground for the ultra-rich, they said late...

Business

French luxury brand tycoon Bernard Arnault in China

Beijing - French billionaire and luxury brand magnate Bernard Arnault is in China this week, social media posts showed, the latest visit by a foreign executive keen to reconnect to the world's second-largest economy. The world's second-richest man after Elon Musk and chairman of LVMH group, Arnault was seen in Beijing visiting the upscale SKP...

Business

Why LVMH chief Bernard Arnault met with China's commerce minister

The photographs circulating the world’s media feature a smiling luxury magnate shaking hands with a Chinese politician. LVMH chief executive Bernard Arnault met with China’s minister of commerce, Wang Wentao, at the Dior flagship in Paris on Friday. Other senior management at LVMH, including Delphine Arnault, chairman and CEO of Christian Dior...

Business

Will Michael Burke to become CEO of LVMH Fashion Group?

Succession planning at the world’s largest luxury group has been underway for years, but owner Bernard Arnault has taken sensible steps to ensure continuity, profitability and longevity at LVMH. The 74-year-old business titan recently appointed his eldest daughter to oversee Christian Dior while his son Antoine is heading Agache, LVMH’s holding...

People

LVMH owner Bernard Arnault tops Bloomberg Billionaires Index

It pays to be in fashion. At least if you are Bernard Arnault and the owner of the world’s most successful luxury group, LVMH. Mr Arnault’s net worth soared past the 200 billion dollar mark for the first time to 201.1bn dollars, making him the world's wealthiest person according to the Bloomberg Billionaires Index. While net worth fluctuates...

People

Bernard Arnault, emperor of luxury and world's top fortune

Bernard Arnault -- who with his family now tops the wealth of Elon Musk -- gradually built LVMH into a global luxury empire by buying up iconic brands, sealing his reputation as a formidable and insatiable businessman. With $184 billion on Thursday, the 73-year-old Frenchman and his family moved to the top of Forbes' billionaire list, knocking...

Business

Luxury goods billionaire Bernard Arnault sells Carrefour stake

Bernard Arnault, the French luxury goods billionaire, has divested his stake in Carrefour, just as the giant retail chain is yielding results. Arnault first invested in Carrefour with US private equity firm Colony Capital LLC, according to Edge Markets, which saw France’s wealthiest person secure a seat on the board and pushed for the retailer’s...

People

LVMH CEO Bernard Arnault was briefly the wealthiest person in the world

Bernard Arnault was briefly the wealthiest person in the world on Monday. In the hours before the New York Stock Exchange opened the president and CEO of French luxury giant LVMH surpassed Amazon founder Jeff Bezos in Forbes’ latest ranking. His fortune was valued at 186.3 billion dollars (about 152 billion euros), 300 million above Bezos (186...

People

LVMH appoints Frédéric Arnault as CEO of Tag Heuer

LVMH has announced the appointment of Frédéric Arnault as Tag Heuer’s CEO, effective from July 1. 25-year-old Arnault, son of LVMH chairman and chief executive officer Bernard Arnault, joined Tag Heuer in 2017 to manage its smartwatch activities. Previously piloting the design phase of the latest Connected watch, he will now, as head of the...

People

LVMH chairman Bernard Arnault buys stake in Lagardere holding company

LVMH chairman Bernard Arnault is to buy a stake in the holding company of French billionaire Arnaud Lagardere, the owner of his eponymous and indebted publishing house, Lagardere. It will amount to around 25 percent of the share capital, according to a joint press release from Lagardere Capital & Management and Groupe Arnault. It comes as the...

Business

Trump inaugurates Louis Vuitton production site in Texas

President Donald Trump attended the opening of a new production site in Texas for the posh handbag maker Louis Vuitton on Thursday, drawing the French luxury powerhouse into the US leader's job-creation pitch as he gears up for next year's re-election campaign. The event presented a rare chance for a meeting between Trump and a foreign business...