According to The Wall Street Journal, Bernard Arnault is encouraging a competition among his five children to decide who will succeed him at the helm of the LVMH group.

The dynamics of this competition are interesting. The children, Delphine, Antoine, Alexandre, Frédéric, and Jean, are evaluated during monthly lunches that last about 90 minutes. These meetings take place in the dining room of the LVMH headquarters and begin with Arnault presenting a list of topics to be discussed. He then requests the children's opinions on these subjects, which are related to business management and market movements.

Affectionately nicknamed the "cashmere wolf," Arnault is 74 years old and was born in the border region between France and Belgium. He currently oversees companies valued at around US$480 billion. The son of a contractor, he studied at the prestigious Ecole Polytechnique and built his fortune by acquiring luxury market companies.

𝗜𝗻 𝘁𝗵𝗲 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝘁𝗶𝗼𝗻𝘀 𝘁𝗵𝗮𝘁 𝗧𝗲𝗿𝘂𝘀 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗽𝗿𝗼𝘃𝗶𝗱𝗶𝗻𝗴 𝘁𝗼 𝗲𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝗶𝗮𝗹 𝗳𝗮𝗺𝗶𝗹𝗶𝗲𝘀 𝗮𝗻𝗱 𝘁𝗵𝗲𝗶𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝗶𝗻 𝗕𝗿𝗮𝘇𝗶𝗹, 𝘄𝗲 𝗵𝗮𝘃𝗲 𝗯𝗲𝗲𝗻 𝘂𝘀𝗶𝗻𝗴 𝗮𝘁 𝗹𝗲𝗮𝘀𝘁 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗲𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝗳𝗮𝗺𝗶𝗹𝘆 𝗺𝗲𝗺𝗯𝗲𝗿𝘀 𝘄𝗵𝗼 𝗮𝗿𝗲 𝗰𝗮𝗻𝗱𝗶𝗱𝗮𝘁𝗲𝘀 𝗳𝗼𝗿 𝘀𝘂𝗰𝗰𝗲𝘀𝘀𝗶𝗼𝗻:

1. Evaluation of personal and business responsibility and maturity;

2. Spontaneous ability to lead teams;

3. Life vision and business vision;

4. Ability to face crises with serenity, objectivity, firmness, and a focus on results;

5. Understanding of various business dynamics and market dynamics;

6. Extensive knowledge of economics, finance, marketing, and technology;

7. Ability to develop scenarios and their foundations;

8. Humility and loyalty to parents, siblings, and understanding that the Company is a perpetual asset for the heirs.

Returning to LVMH, Arnault has been preparing his sons to take over the business for years, rarely discussing the subject. What is known is that the choice of successor will be based on merit.

While the competition is ongoing, the sons do their best to avoid any kind of rivalry from manifesting publicly, maintaining a friendly atmosphere among themselves.

Consult Terus Consultoria regarding the demands and needs of perpetuity in family businesses and their succession as the object and asset of entrepreneurial families.

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