HBO’s hit series “Succession” has received critical acclaim for its dramatic portrayal of a wealthy family fighting for power and control over its media empire. The show may be based on the Murdochs, but the real-life succession family is the Arnaults.  Bernard Arnault is the founder and chief executive of LVMH, the world’s largest luxury goods company.  He’s also currently the richest man in the world (if you don’t count Russia’s leader).

The Arnault family: a brief overview

Bernard Arnault is a French businessman and billionaire who has built his fortune through LVMH, which includes well-known brands such as Louis Vuitton, Christian Dior, and Tiffany & Co. With a net worth of around $239 billion, he is the wealthiest man in the world as of this writing.

But Bernard Arnault is now 74 years old and nearing retirement age.  LVMH shareholders recently agreed to raise the maximum CEO age from 75 to 80.  Amidst this increase are the mass protests France has endured against raising its retirement age from 62 to 64.  

If there is anyone in France who does not want to retire, it’s Bernard Arnault.  With such a vast LVMH empire to manage, the succession question has intensified with each passing year. 

The succession question: who will succeed Bernard Arnault at LVMH?

The Arnault family has been preparing for this moment for decades. Bernard has been grooming his children for leadership roles within LVMH, and they are now all deeply involved in the business. Once a month, Bernard meets with his five children for lunch at LVMH headquarters, where he tests and challenges their capabilities.

Imagine being his child. Constantly under review and assessment. 

While all five of Bernard Arnault’s children are involved in the family business, two of them are seen as clear frontrunners for the top job: Delphine and Antoine. Delphine, Bernard’s eldest child, was recently made the CEO of Dior, one of LVMH’s flagship brands. Antoine, the second eldest child, became CEO of the listed company that holds the family’s stake in LVMH.

Delphine Arnault is a rising star within the company. She has been working at LVMH for over 20 years and has held various high-level positions. She was instrumental in Louis Vuitton’s successful run during that time period, taking active roles in product designs and collaborations. 

Antoine Arnault, on the other hand, has been working in the family business since 2005, when he started in Louis Vuitton’s advertising department. He has held various positions within LVMH, including CEO of Berluti, a luxury menswear brand. He has also been involved in several high-profile acquisitions, including the purchase of Loro Piana (he’s currently the chairman).

While Delphine and Antoine are the clear favorites to take over from their father, Bernard Arnault’s three youngest sons are also potential contenders. Alexandre, Frédéric, and Jean are from Bernard’s second marriage.  Alexandre (age 31) is the Executive Vice President of Tiffany, Frédéric (age 28) is the CEO of Tag Heuer, and Jean (age 25) is the Director of Watches and Marketing at Louis Vuitton.   

The Arnault family may roll their eyes at the mention of HBO’s Succession, but it’s hard to imagine there’s not at least some jostling for power and influence within the largest fashion empire on Earth. It’s human nature, after all. 

With that said, there are some key differences between the show and the Arnault family. For example, the Arnaults appear more stable and united than the fictional Roy family. There is also a clear sense of succession planning and preparation.

But how pleasant are those monthly lunches really? I suppose the alternative is the mismanaged Roy family that was caught off-guard (spoiler alert!) by their father’s sudden death.

The question of who will take over from Bernard Arnault is a fascinating one. Will it be Delphine or Antoine, the clear frontrunners? Or will one of the younger sons surprise everyone and rise to the top?  

The future of LVMH: it’s Delphine’s throne to lose

My money is on Delphine, as I explained here. Her experience and success at Louis Vuitton, combined with her recent appointment as CEO of Dior (one of the greatest fashion brands not just in LVMH, but the world), make her a compelling choice. She’s a proven operator, marketer, and executive with an impressive track record.

Although her younger brother Antoine is no slouch either. He has demonstrated success at Berluti and Loro Piana. His latest appointment as CEO of the family’s holding company puts him in a very advantageous position, but I still think Delphine’s resume is more prestigious and compelling.  

And while Delphine is no Shiv and Antoine is definitely no Kendall, the Arnault family is not without its controversies. Bernard Arnault has faced criticism in the past for his tax avoidance, and his ruthless business dealings, particularly his unseating of board members so he could gain complete control.

Even Logan Roy would be impressed. 

Despite these controversies, the Arnault family remains a formidable force in the luxury and business worlds. LVMH continues to dominate the market, and the company’s future looks bright. Whoever takes over from Bernard Arnault will have big shoes to fill, but with such a talented and driven family, the future looks promising. Provided there’s an orderly succession, of course.

The real-life drama unfolding within the Arnault family is just as captivating as anything we’ve seen on “Succession.” With a vast empire to manage and five ambitious children jostling for power and influence, the question of who will take over from Bernard Arnault is intriguing. Delphine and Antoine may be the clear frontrunners, but the younger sons could make some moves. Especially if Bernard acts like Logan and works into his eighties. Five-plus years of jostling could change everything.