The majority of Arnault's fortune comes from his stake in Christian Dior, a holding company for LVMH Moet Hennessy Louis Vuitton, the world's largest maker of luxury goods. He also owns a 5.6 percent direct stake in LVMH as well as shares of Carrefour, Europe's largest food retailer, a ski resort in the French Alps and a paper recycling company.
French billionaire Bernard Arnault and U.S. financier Henry Kravis browsed France’s largest art fair as a Jean-Michel Basquiat painting and a wrecked Ferrari were among early big-ticket sales last night.
Sheikha Mayassa bint Hamad Al Thani, sister of Qatar’s Emir and chairwoman of the Qatar Museums Authority, tops ArtReview’s 2013 ranking of the art world’s 100 most influential figures, the Power 100, published today.
Two years ago, Bernard Arnault asked his son Antoine to run shoemaker Berluti, then this month he installed his daughter, Delphine, as executive vice president of Louis Vuitton. While her brief is to revive the handbag maker and Antoine’s task is to transform Berluti into a menswear titan, Arnault is auditioning both for another job: his own.
Sixty bottles of 2007 Chateau d’Yquem, Bordeaux’s top-ranked Sauternes dessert wine, sold for a record low 2,460 pounds ($3,950) a case on Liv-ex in the past week as collectors focused on its newly-released 2011 vintage.
Marc Jacobs’s departure from Louis Vuitton to focus on an initial public offering of his own brand is set to provide a double boost for LVMH Moet Hennessy Louis Vuitton SA, the owner of both luxury fashion labels.
Marc Jacobs will leave Louis Vuitton after 16 years as artistic director of the world’s biggest luxury label to focus on an initial public offering of his own brand, according to a person familiar with the matter.
The decision by France’s richest man, Bernard Arnault, to seek Belgian citizenship has created a media frenzy over tax exiles, giving the increasingly unpopular Socialist President Francois Hollande a chance to grandstand.
Bernard Arnault’s net worth is $14.6 billion less than previously estimated because of the way he owns his stake in LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods company, according to data compiled by Bloomberg.