Bernard Arnault, the chairman and chief executive of LVMH, has publicly dismissed reports that his children are locked in a bitter struggle for control of the family’s $142 billion luxury empire. In a sharply worded letter posted on X, the 77-year-old billionaire ridiculed the idea that his household resembles the fictional Roy family from the HBO drama Succession.

“They burst out laughing,” Arnault wrote of his children’s reaction to the claim that they were expected to bow to him as the head of “the last royal family of France.” The letter, titled “Merci,” was reposted by LVMH’s official X account and was written in French. It was issued after the French newspaper Le Monde reported on alleged tensions among Arnault’s five children and their mother.

Key facts at a glance

• Bernard Arnault is CEO of LVMH, the world’s largest luxury goods conglomerate, with a net worth of about $142 billion.
• He has five children: Delphine, Antoine, Alexandre, Frédéric, and Jean, all of whom work in LVMH-owned brands.
• Arnault took to X to deny a Le Monde report describing jealousy between his older and younger children and alleged friction between his wife and his elder daughters.
• In his letter, Arnault said his children “call each other on Sundays” and that the idea of a family feud is “the stuff of novels.”
• Investor Bill Ackman praised the response, saying X has shifted power away from the media and back to the people.

The Le Monde report that sparked the rebuttal

Le Monde, France’s largest newspaper by circulation, reported that Arnault’s eldest children, Delphine and Antoine, were the target of jealousy from his three younger sons from his second marriage to Hélène Mercier-Arnault. The report also claimed that there were tensions between Hélène and Arnault’s older children, and that all five children were aggressively seeking their father’s approval as the question of succession loomed over LVMH.

The timing of the report was notable because LVMH is widely seen as one of the most important family-controlled businesses in Europe. Arnault has spent decades building the group into a colossus with brands including Louis Vuitton, Christian Dior, Moët & Chandon, Hennessy, Givenchy, Fendi, Bulgari, Tiffany & Co., and Sephora. Any hint of discord among the next generation could raise questions about the long-term stability of the group.

Arnault’s response: “Merci”

Arnault took the unusual step of publishing a personal letter on X, thanking those who had offered their good wishes but firmly rejecting the narrative of family intrigue. He dismissed the idea that he presides over a dynastic maze comparable to the French monarchy, saying his children messaged him on WhatsApp to ask whether they needed to bow. “They burst out laughing,” he repeated.

The billionaire also mocked the suggestion that he had unusually close ties to politicians. He said he should have stayed on Avenue Montaigne and spoken only to his dog. Avenue Montaigne is a high-end street in Paris that is home to many luxury fashion houses, including Dior and Chanel. Arnault noted that he has met with various British prime ministers and U.S. presidents, as well as German chancellors and the emperor of Japan, implying that such meetings are a normal part of running a global business rather than evidence of improper influence.

He further pushed back on suspicion that he had donated money to arts and culture in order to avoid taxes. In France, corporate and personal patronage of the arts has long been a subject of public debate, and Arnault is a prominent collector and benefactor. The LVMH group has funded major cultural projects, including the Fondation Louis Vuitton in Paris, and has supported museums and exhibitions around the world. Arnault insisted that these contributions were not designed as tax shelters.

Five children, five roles

The question of who will eventually run LVMH has fascinated observers for years. Arnault has five children, and all of them work within the group. Delphine Arnault, his eldest daughter, is the chief executive officer of Christian Dior, one of the most prestigious positions in the entire luxury industry. Antoine Arnault, his eldest son, is the group’s director of image and environment, overseeing communications and sustainable development, and also serves on the boards of several LVMH companies.

Alexandre Arnault, the eldest son from Arnault’s second marriage, is deputy CEO of Moët Hennessy, the wines and spirits division that includes iconic champagne and cognac houses. Frédéric Arnault is CEO of Loro Piana, the Italian cashmere and luxury textile brand, while Jean Arnault is a watch director at Louis Vuitton. The children have largely been groomed in public view, with each taking on increasing responsibilities over the past decade.

Delphine’s appointment as CEO of Dior was seen as a significant signal, though Arnault has never publicly named a preferred successor. In various interviews, he has said that the best candidate will emerge from the family, but he has also stressed the importance of experience and performance.

A history of building an empire

Arnault’s path to becoming one of the richest people in the world began in the 1980s, when he persuaded the French government to allow him to take control of the struggling textile conglomerate Boussac, which owned Christian Dior. He restructured the company, sold off many of its businesses, and used the proceeds to acquire shares in LVMH. After a bitter corporate battle, he gained control of the group in 1989. Over the following decades, he transformed LVMH into a global powerhouse through a series of acquisitions, including the takeover of Tiffany & Co. in 2020.

His family holding company, Agache, controls LVMH through a complex structure that gives the family long-term voting rights. This structure is designed to protect the group from hostile takeovers and to ensure that control remains within the Arnault family. The possibility of a contest among siblings is therefore not just a matter of family drama; it has real implications for the governance of one of the world’s largest corporations.

Sundays, not schemes

Arnault’s letter also took direct aim at the broader narrative of sibling rivalry. “I would have liked to find one nuance: the one that allows five strong personalities to work in the same company without it turning into an Italian opera,” he wrote. “Among the Arnaults, apparently, one does not discuss—one plots; one does not deliberate—one competes. It is the stuff of novels.”

He then offered a more mundane picture of family life. “In the real world, my children run Maisons, build teams, make decisions, and, sacrilege of sacrileges, call each other on Sundays. What,

Source:MSN News