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.
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.
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.
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.
French billionaire Bernard Arnault, chief executive of LVMH Moet Hennessy Louis Vuitton SA, rebutted a report that he has located parts of his business empire in Belgium in order to escape taxes in France.
LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, named Antoine Arnault chairman of cashmere clothier Loro Piana SpA, expanding the responsibilities of billionaire Bernard Arnault’s eldest son.