Louis Vuitton owner Bernard Arnault interviews his children to pick heir for luxury brand

Family legacy and ancestral property matter a lot, not only in India but also globally! A business stalwart who will want even a janitor to be interviewed for a job in his company will hand over the reins of his company to a heir without any interrogation! Louis Vuitton (LVMH) owner Bernard Arnault is different.

The richest person in the world does not want his kids to take the family wealth for a ride.

That's the reason he is reportedly interviewing each one of his five kids one by one every month.

A Wall Street Journal report said that the French businessman is interviewing his children to pick his heir in a style a traditional company interviews its upcoming CEO. 

However, to make interviews a homely affair, he often picks the backdrop of places like the private dining area of the LVMH Moet Hennessy Louis Vuitton SE headquarters, Paris, where Arnault eats lunch with his kids.

It's a 90-minute sitting, where rather than discussing food delicacies, he talks about company-related affairs and strategy for almost all the time with his kids. 

These sittings are feedback sessions where he takes his children's opinions about the brand shake-up or work style of a particular manager.

This feedback matters a lot since, based on it, five of his children are judged. And these discussions are most likely to become the foundation for the selection of his heir for LVMH.   

The billionaire hasn't indicated if he is keen on a particular child to become the next CEO, as he will reportedly pick the heir based on merit. 

The Wall Street Journal story says that gatherings such as lunches are part of a long-term strategy to prepare his children to hold the top position once he steps down or passes away.   

Come what may, Arnault has risen through the ranks. After buying a major stake in LVMH in 1989, he has established the company as the world's most distinguished luxury brand and himself as the richest person on earth.

With a net worth of $213 billion, he is way ahead of his nearest rival in the billionaire's index, Elon Musk, who is the second richest at $164 billion.  

Arnault owns some of the biggest luxury brands across the world, as his portfolio includes premium brands like Louis Vuitton, Tiffany, TAG Heuer, Bulgari, Sephora, and Dom Perignon champagne.

No wonder, he needs someone who can continue his legacy through worth, not just by the virtue of being born in an influential family.