For six days, from July 19 to 24, 2026, Le Monde published a wide-ranging investigation into Bernard Arnault, his inner circle, and the workings of LVMH. Titled The Bernard Arnault empireIt was produced by Raphaëlle Bacqué and Vanessa Schneider, after several months of work and numerous interviews with the billionaire, his family and the group's leaders.
The first section describes the organization surrounding the CEO of LVMH, nicknamed "Monsieur" by some employees. The newspaper presents a highly codified world, where members of the Arnault family occupy a central position. One phrase sums up the portrait drawn by the journalists: "The last royal family of France".
The second article examines Bernard Arnault's political relationships. The head of LVMH, who has long claimed to be a liberal, is described as a man capable of maintaining ties with various French presidents, regardless of their political affiliation. The investigation also mentions his close relationship with Vincent Bolloré and his contacts with officials of the National Rally.
The third episode details his relationships with several foreign leaders, including Donald Trumpwhich he has known since the 1980s. Journalists describe a policy guided by LVMH's commercial interests in major global markets, while the group generates most of its revenue outside Europe.
Media, sponsorship and tax advantages
The fourth installment focuses on the media controlled by Bernard Arnault. His group notably owns The echoes, Le ParisienRadio Classique and holds stakes in several other publications. The investigation alleges that the billionaire regularly seeks to influence their editorial line and to use this media empire to promote his ideas, tastes, and the interests of his brands.
The fifth article examines his activities as a collector and patron. It revisits the Louis Vuitton Foundation, the works acquired by the businessman, and the tax incentives that accompany philanthropic expenditures. Bernard Arnault is presented as an art enthusiast who also knows how to leverage the tax framework adopted by Parliament to encourage corporate donations.
Finally, the last episode, published on July 24, addresses the most sensitive subject: the succession of Bernard Arnault at the head of LVMH. His five children, Delphine, Antoine, Alexandre, Frédéric, and Jean, all work within the group. The newspaper describes rivalries between them, as well as family tensions related to the question of who might one day take the reins of the empire.
Bernard Arnault, aged 77, has not yet named a successor. The age limit for serving as CEO of LVMH was raised to 85 in 2025. When questioned in April about his future, he invited a shareholder to ask him again in seven or eight years.
Bernard Arnault counterattacks with a three-page letter
Two days after the publication of the final installment, Bernard Arnault chose to respond personally. On Sunday, July 26, he sent a three-page letter entitled Thank you was published on LVMH's press service account X. The billionaire immediately adopted an ironic tone: "It seems I am the head of the last royal family of France." He says that his children jokingly asked him if they should now bow to him.
Bernard Arnault believes the investigation is turning family discussions into conspiracies and professional disagreements into personal conflicts. He maintains that his children manage their businesses, make decisions, work together, and still speak to each other on Sundays. To dispel the notion of a family feud, he concludes: "We prefer Sundays." (He also responds to the passages devoted to his entourage, described as particularly elegant and disciplined. With sarcasm, he promises to seize the company restaurant after discovering that his colleagues would all be thin and dressed to the nines.
He maintains his relationships with foreign presidents and leaders
Bernard Arnault does not deny his contacts with political power. He recalls having corresponded with François Mitterrand, Jacques Chirac, Nicolas Sarkozy, François Hollande, and Emmanuel Macronbut also with several American presidents, British prime ministers, and German chancellors. He rejects, however, the idea that these relationships are an anomaly. According to him, the head of an international group present in nearly 100 countries must necessarily engage with the leaders of the world's major markets. The LVMH CEO also embraces a trade-oriented strategy. He finds it unsurprising that a group exporting products made in France seeks to develop its sales in the United States, China, and elsewhere. He criticizes the newspaper for focusing more on LVMH's diplomatic relations than on those of other major French companies operating in the same countries.
A firm defense of his patronage
Bernard Arnault also addressed criticisms concerning the Louis Vuitton Foundation and the tax breaks granted for charitable giving. He pointed out that he had committed €200 million to the reconstruction of Notre-Dame Cathedral in Paris and €50 million to fund a mathematics research institute at the École Polytechnique. He emphasized that these actions were carried out in accordance with a law passed by Parliament to encourage businesses and individuals to finance projects of general interest. He therefore fully acknowledges having used the mechanisms provided by French law.
He accuses the newspaper of having "punished transparency".
In the final section of his letter, Bernard Arnault reiterates that he agreed to meet with journalists on several occasions. His wife, his five children, and several LVMH executives also participated in the interviews. He believes that this openness ultimately backfired on his family, while other, more discreet industrial dynasties would escape this type of scrutiny. Bernard Arnault accuses the newspaper of having used his family's openness as fodder for reporting on private rivalries and tensions. He maintains that the Arnaults remain united despite their different personalities and responsibilities. To those who might be betting on a family rift, he issues a warning: "They will be waiting a long time."
The billionaire opens his own account on X
The letter, initially published on LVMH's professional account, sparked numerous reactions. The following day, Monday, July 27, Bernard Arnault created a verified personal account on X under the name @BernardArnault. In his first post, he directly thanked the internet users who had sent him messages after his response. The CEO of LVMH explained that he was very touched by the expressions of support he received and wanted to personally thank their authors on the social network. This move to X marks an unusual development for Bernard Arnault, who has long remained discreet on social media. In just a few hours, the investigation into his power, his media outlets, and his succession has thus transformed into a public confrontation, with a response signed by him and now a personal channel to speak directly.
Community
Comments
Write a comment
Be the first to comment on this article.