Bernard Arnault and his family are currently ranked as the wealthiest individuals in the world, with a combined fortune of $214 billion. This surpasses other prominent figures such as Jeff Bezos of Amazon and Elon Musk of Tesla and SpaceX. The family has recently solidified their control of the French luxury goods company LVMH by electing two new members to the board, Alexandre, 31, and Frédéric, 29.
The shareholder meeting where the sons were elected saw overwhelming support, with each son receiving over 93% of the votes cast. This is a testament to the family’s strong influence within LVMH. The Arnault family group already holds a significant stake in LVMH, owning 48.6% of the company’s capital and controlling 64.3% of the votes. This level of ownership ensured that the election results were a formality. While two other children from a previous marriage, Delphine, 49, and Antoine, 46, are already serving on the board, the youngest sibling Jean, 26, will have to wait his turn.
In other news, LVMH has announced that Wei Sun Christianson will be succeeding Antonio Belloni as its number two executive at the end of March. Christianson is coming from Morgan Stanley and specializes in business in China – a crucial market for LVMH. With a notable presence in China
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