The chair and CEO of the LVMH, Bernard Arnault, now has a sizable $30 billion lead over Elon Musk in terms of net worth.
We’re talking about Bernard Arnault, chair and CEO of the LVMH MC, +1.01%, the French-based corporation that specializes in luxury goods. His net worth increased to $210 billion this week, according to the Bloomberg Billionaire Index, with a gain of $11.6 billion after LVMH’s stock surged following a good first-quarter sales report.
But while we seem to know a lot about Musk, from his penchant for keeping guns by his bedside to his surprise appearance at a Dave Chappelle show to his frequent attempts at irreverent humor on Twitter, the 74-year-old Arnault, in contrast, keeps a low profile. Even if you don’t know Bernard Arnault, you know LVMH’s products LVMH is a global leader with many familiar luxury names in its portfolio. Start with the fashion company Louis Vuitton , but also add in such other high-fashion brands as Fendi, Givenchy, Marc Jacobs and Christian Dior. Then shift to the realm of wines and spirits — the Moët Hennessy side of the company, which includes such top-shelf names as Dom Pérignon Champagne, Glenmorangie Scotch and, yes, Hennessy Cognac.
He has his own ‘Succession’-style family drama Arnault is married and has five children, all of whom hold senior positions with LVMH. There’s been a lot of speculation as to which child might take over the company’s reins, although Antoine Arnault, the son who was named CEO of Christian Dior earlier this year, has been cited as a potential front-runner.
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