Amid talk of whether Moët Hennessy Louis Vuitton (LVMH) is finally emerging from a downturn in luxury goods, some investors are turning their attention to the French conglomerate’s future leadership. At 77, Bernard Arnault is showing no signs of stepping down anytime soon, as evidenced by the move last year to raised the age limit for the LVMH CEO role to 85. Questioned about retirement at the company’s AGM this April, Arnault indicated that he won’t talk about it for seven or eight years.

When the time does come for LVMH’s reins to be handed over, however, it remains to be seen which of his five children will step up. In fact, Arnault restructured his family holding company in 2022 to give each of the children a 20 per cent stake and equal voting rights.

One of LVMH’s largest shareholders, Deutsche Bank’s asset manager DWS Group, has described the apparent lack of succession planning as “unclear and opaque,” according to a Reuters report from this January. LVMH told the news agency that “obviously [plans] do exist”, they just haven’t been made public.

Nonetheless, Arnault’s failure to clear things up has only added to the noise. French newspaper Le Monde published a six-part investigation last month, which included claims about his leadership style, his alleged love of tax breaks, and how his children are being pitted against each other. He responded with a rebuttal on social media, dismissing rumours of a family rift as fiction.

“I would have liked to find some nuance: the kind that allows five strong personalities to work in the same house without it turning into an Italian opera,” Arnault wrote, according to an English translation.

Le Monde also reported that his sons from his second marriage, Alexandre, Frédéric, and Jean, are jealous of their older siblings from his first, Antoine and Delphine. Tensions are also apparently running high between the eldest two children and their stepmother. All five are vying to win their father’s approval and, ultimately, control of his 75-brand empire.

At the time of writing, Delphine is CEO of Christian Dior Couture, while Antoine is LVMH’s image and environment director. Alexandre is deputy CEO of Moët Hennessy, Frédéric is CEO of Loro Piana, and Jean serves as director of watches at Louis Vuitton.

“In the real world, my children run maisons [houses], build teams, make decisions, and, sacrilege, call each other on Sundays,” wrote Arnault, joking that the siblings like to feud over the phone at weekends.

Managing relationships is just as important as managing wealth

Arnault’s fiery and at times tongue-in-cheek response was met with plenty of support, including from billionaires and hedge fund managers. The whole drama also raises questions of what the ultra-wealthy can learn from the situation.

"The issues faced by the Arnault family highlight that successful succession planning is as much about managing relationships as it is about managing wealth,” says Ruben Sinha, family law partner and head of JMW Signature, a bespoke service catering to ultra-high-net-worth (UHNW) clients and family offices.

By giving each of his children an equal stake in the family holding company, Arnault has created a situation where disputes could arise further down the line, even if rumours of a rift have been dismissed, Sinha adds.

“In a scenario like this, it’s crucial that any sensitive questions are addressed while the [head of the family] is still able to lead. Who should steer the family business, how disagreements will be resolved, and how individual ambitions should be balanced with wider family interests.”

Giving heirs an equal stake could be considered "indecisive or controlling”, says Rebecca Durrant, partner in the private clients team at national tax firm Crowe. “A more positive view is that Arnault is allowing his heirs to prove their capability in roles suited to their skills before deciding who should lead.”

Durrant’s advice to UHNW families who may find themselves in a similar position is to balance involving the next generation in wealth decisions and succession planning “without giving them too much financial freedom too soon”.

Start succession conversations as soon as possible

Nine out of 10 UK-based UHNW families have experienced wealth conflicts – not necessarily over the amount of money, but how it’s used and invested – according to BDO’s Wealth Report 2026. Yet just 30 per cent of the 200 families surveyed admitted to having a succession plan in place.

“Handled well, succession planning usually has three key ingredients,” argues Durrant, who recommends ensuring clarity by creating a document for the family business and wider family wealth that sets out control, roles and responsibilities. Communicating the plan with the relevant family members, so that they all know what’s expected of them – and what they can expect in return. And, perhaps most important, a duty of care.

“Never underestimate the emotion involved. Planning should protect the family as well as the wealth. Sibling rivalry is real, particularly where some children work in the business and others don’t,” Durrant adds.

Data from UBS’ Next Generation Report 2026 supports Durrant’s view. A third of young inheritors have experienced conflict related to succession as a result of poor communication, while more than a quarter (27 per cent) have had disagreements with family members about spending, lifestyle and work ethics, unclear roles (16 per cent) and perceived favouritism (14 per cent) are also sources of tension. More than half of the young inheritors surveyed wish that succession talks had started sooner

“UHNW families may delay succession planning because it involves difficult conversations about control and family dynamics. Complex assets and an uncertainty over who should succeed them can make the process feel overwhelming,” says François-Olivier Mercier, head of global family and institutional wealth UK at UBS Global Wealth Management. “The longer these conversations are deferred, the greater the scope for uncertainty or even conflict.”

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