LVMH’s Bernard Arnault and family stand as one of the world’s wealthiest families, overseeing an empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora. Forbes estimates the 74-year-old’s fortune at $231 billion as of July 12, 2023. Arnault’s five children all work at LVMH. In July 2022, the billionaire proposed a reorganization of his holding company Agache to give them equal stakes.
Agache—formerly Groupe Arnault—including its 100%-owned subsidiary Financière Agache, forms the principal investment vehicle of Arnault. The Frenchman’s holding company Agache backs venture capital firm Aglaé Ventures, which primarily executes technology-focused investments. In the first half of 2023, the venture capital firm backed seven companies.
This story is from the August 2023 edition of Forbes Middle East - English.
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This story is from the August 2023 edition of Forbes Middle East - English.
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