LVMH Chairman Bernard Arnault Posts on X for First Time, Denies Family Feud, Says Shareholders Approved CEO

Bernard Arnault, Europe's richest man and the head of LVMH, posted on social media platform X for the first time on July 28. Nearly 12 hours after his first post, his follower count reached 60,000, and X owner Elon Musk followed him immediately.

Last week, six reports focused on the European billionaire's political influence, media control, and tax issues, with the final article examining the inheritance dispute among his five children. Xavier Niel, France's seventh-richest person, is the long-term partner of Arnault's eldest daughter, Delphine; the couple has been together since 2010.

The reports claimed that Arnault's five children have formed alliances based on blood ties to compete for inheritance, while LVMH shareholders are uneasy due to the lack of a clear succession plan. Among Arnault's children, Delphine (51) and Antoine (49) are from his first marriage, while Alexandre (34), Frédéric (31), and Jean Arnault (27) are from his second marriage. All five currently work at LVMH or its brands.

Arnault recently dismissed investor concerns about his succession plan, stating that the shareholders' meeting had approved raising the age ceiling for the group's chief executive officer to 85. In a signed response issued by the LVMH press office, Arnault flatly rejected all reports and accusations, saying that those betting on a rift in his family would have to wait a long time.

Arnault said that spending six months investigating his family ignored the hundreds of French workshops, tens of thousands of employees, and the group's contribution to the French economy. He stated that while his five children manage different brands and compete, there is no family feud as portrayed by outsiders. Arnault wrote: "My children also call each other on Sundays. In an ordinary family, that's called 'Sunday'. In our family, it's called 'conspiracy'."

In response to questions about his political influence and charitable activities, Arnault said that interacting with French and global political and business figures is part of running a large multinational corporation. Public welfare projects, including the Louis Vuitton Foundation and donations for the reconstruction of Notre-Dame, are conducted within the French legal framework and should not be questioned.

Arnault's LVMH group encompasses dozens of luxury brands, including Dior, Louis Vuitton, Sephora, and Tiffany. His personal wealth is estimated at over 140 billion dollars. As of Monday, he ranked ninth on the Forbes billionaires list.