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Billionaires ‘disappointed’ after superyachts banned from Naples port

Yacht belonging to world’s second-richest man, Bernard Arnault, falls victim to new size restrictions at Italian city’s Mergellina port

A superyacht owned by Bernard Arnault – the world’s second-richest man – has been banned from docking in Naples owing to a new regulation that has left multibillionaires “thoroughly disappointed” about missing out on staying at the southern Italian city.

Symphony, the LVMH boss’s 101 metre long, six-deck vessel was cast adrift off the coast of Naples before being told it could not be hosted at Mergellina port due to a recently introduced limitation on size.

The ban reportedly came as a surprise to the fashion tycoon , who has previously been able to dock the yacht, which contains a glass-bottomed swimming pool and outdoor cinema, at the port.

Corriere della Sera reported that the media tycoon Barry Diller was also forced to renounce Naples after the Mergellina harbourmaster banned yachts of more than 75 metres in length for security reasons.

A source at the port said the move was “incomprehensible” given that megayachts had been able to dock there for the past 20 years, and that Naples would miss out on the type of visitor who brought some lustre to a city that “often makes the news for negative reasons”.

“I am getting many letters from magnates saying they’re thoroughly disappointed that they can’t dock in Naples any more,” the source added.

One of the letters, from a company that charters a yacht owned by a Turkish billionaire and is registered in the Cayman Islands, said: “Our boat measures 85 metres and I have seen larger ones moored there without any problem. Why is this no longer possible? Big yachts bring money, they bring jobs, and it’s really regrettable that they can no longer stop in Naples.”

Business unions have also criticised the new regulation.

“There are many consequences,” Costanzo Jannotti Pecci, the president of the Naples unit of Unione Industriali, told Il Mattino. “There is a feeling that superyachts mustn’t come to Naples. There even seems to be a lack of awareness of the pleasure that a tycoon might get from our city. The fame of a city such as Naples increases through these people.”

Massimo Luise, who manages a pier at Mergellina that hosts luxury yachts, told Corriere della Sera that while he respected the rules, the economic repercussions for Naples were considerable.

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“It’s a shame for Naples, a special city full of culture and tradition which can no longer welcome guests of the calibre of Leonardo DiCaprio, Johnny Depp, Jeff Bezos and Jennifer Lopez, who over the years have come here,” he said.

While Naples may be out of bounds, the rich and famous have been attracting attention as they enjoy other parts of Italy . Last week, a Spanish tourist and fan of DiCaprio almost drowned after attempting to swim to a superyacht moored off Forte dei Marmi in Tuscany to get a glimpse of the actor, who was onboard.

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The most stunning features of Bernard Arnault’s $150 million superyacht – Known as the Louis Vuitton boss’ summerhouse on the sea, the vessel is longer than two Olympic sized swimming pools it has glass walled corridors, an infinity pool, DJ booth and a video wall.

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Inside SYMPHONY: Bernard Arnault's $150 Million Yacht

Fashion billionaire Bernard Arnault's superyacht SYMPHONY is the definition of luxury sailing.

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Ownership of the symphony, features of the superyacht, additional amenities and specifications.

French businessman, investor, and art collector Bernard Arnault is the chairman and chief executive of the world's largest luxury goods company, LVMH Moët Hennessy – Louis Vuitton. He is currently the third richest person in the world and the richest person in Europe. The French fashion tycoon is one the world's ultimate taste-makers and his ownership of the super yacht Symphony is a proof that he likes the combination of class and beauty which comes with a price. With the billions of wealth he has accumulated over the years, it is not at all surprising that he bought a luxury yacht.

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Bernard Arnault is the proud owner of the largest Feadship to be ever made according to the Yacht Habor. The CEO of the French multinational luxury goods conglomerate, LVMH, owns the luxury mega yacht which is worth $150 million. It is not surprising that Bernard Arnault would spend so much for a luxury yacht since he has a stunning net worth of $93.5 billion and currently among the top ten billionaires in the world and recognized as the richest man in France.

Arnault first ventured into the yacht industry back in 2008 when he led the acquisition of the British yacht manufacturer called Princess Yachts. Since then LVMH has been working closely with the world leading brand of custom-built luxury mega-yachts, Feadship. It was in 2015 when Arnault decided to buy Symphony for $150 million. The super yacht has about estimated running costs of $10 to 15 million per year and currently not available for charter.

The Superyacht Symphony comes with eight huge staterooms that can fit about sixteen guests and a comfortable berthing that can accommodate about 27 crew members on board the yacht. It also has a private deck for the owner. It is created to accommodate about thirty six passengers. The exteriors of the yacht were designed by the world class renowned company Tim Heywood Design. The interiors on the other hand were aesthetically designed with the décor of the yacht being done by the one and only Zuretti Interior Design. The Symphony has been constructed by the Feadship at the Royal Van Lent Shipyard as a simple Project 808.

The luxury yacht is currently among the most sought-after private vessels . Bernard Arnault’s luxury vehicle at the sea is far more than par excellence. It is powered by a 2,415 hp Wärtsilä engine which comes with a powerful battery bank and about three generator sets. It also houses the string of amenities of the yacht such as the appointed entertainment areas, the al fresco bar area for parties and events and the state-of-the-art kitchen that is serving stunning decadent French delights. It is also a 101-meter luxury yacht that was built at the Royal Van Lent Shipyard. Symphony has a steel hull that has an aluminum superstructure. The yacht has complied with the amended Passenger Yacht Code (PYC).

The luxury yacht is said to be an eco-friendly yacht which uses a hybrid propulsion technology and powered by a 4x MTU 16V4000M73 engine. Due to the advance hybrid propulsion technology, the yacht can store energy in its battery bank that can work together with its diesel engines. The main engine on the other hand works hand in hand with the generators and modern battery bank that were attached to the yacht. It uses about 30% less than the energy that a normal yacht uses. The maximum speed of the yacht is about 21 knots and the cruising speed is about 10 knots. The Symphony was ranked 50 th out of the top 100 superyacht around the world with a 101.5 meter six deck. The structure of the yacht was made by the De Voogt Naval Architects. The floors and ceilings of the yacht are encased in a light wood panel which was complemented by the w ooden furniture with accents of gold and natural tones .

The Symphony contains luxury features such as the 6 meter glass-bottom swimming pool located on the main deck, an outdoor cinema that was aesthetically placed on the bridge deck and a stunning Jacuzzi on the yacht’s sundeck. The owner’s deck is also equipped with two bathrooms, sauna, forward terrace that has a Jacuzzi as well, a private office space, a spacious lounge and dressing rooms. Since the wife of Arnault, Helene Mercier, is a concert pianist, there is also a piano on board. The owner’s deck also has deck area perfect for lounging with a dining table that can accommodate about 20 people. It also has two elevators for passengers to use and one elevator even features a 15-metre interactive video screen which can play video footages upon the request of the guests.

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Sources: Super Yacht Fan , Luxuo , Luxury Launches

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Symphony At Sea: A Glimpse Into LVMH CEO’s $150 Million Superyacht

Bernard Arnault, rumored to have been the third richest man in the world, owns one of the grandest yachts at sea. The impressive superyacht boasts a vast interior and eye-catching aesthetic that make it notable on any list. Mr. Arnault is the CEO of the French luxury goods company LVMH (Louis Vuitton, Moet, Hennessy ) and has caught the attention of yachting enthusiasts with his exceptional seabound treasure.

In 2015, the high-end yacht builder, Feadship, built the $150 million superyacht. Mr. Arnault purchased it, and named it Symphony , a musical metaphor for the billionaire’s undisturbed ocean getaway. It ranks in the top 50 of biggest yachts in the world measuring roughly 333 feet with a max speed of 21 knots, so it’s no wonder that it continues to catch stares wherever it’s docked.

On top of that, the elaborate interior makes this sizable structure stand out from the rest. Zuretti Interior Design, a French studio specializing in luxury superyachts, took on the task of perfecting it. The artisan space was inspired by residences in Bali and Thailand. The walls and floors were covered in light wash wood panels that suggest a hint of ‘upscale tropicale’ . Meanwhile, neutral furniture with gold decor tells a luxe story. On the outside, she has a clean navy blue trim close to sea level that draws the eye to her bright white finish.

This stunning yacht can house nearly 20 guests and has space below deck for a crew of 38. The glamorous owner’s suite includes a private deck with access to an intimate sauna experience and even better views.

This mega yacht has no shortage of amusements. The aft deck has an incredible glass-bottom pool while the bow is taken over by a sleek helipad. A fully-equipped gym also resides here along with a pop-up golf tee. Toys in tow include inflatables, a slide, jet skis, and sea bobs.

Last we heard, the billionaire’s not chartering his vessel, but his own personal guests will take interest in some of the unique features. Those curious about the mechanics behind the craft can have a museum-like experience on board with access to a massive display that tracks speed, rpm, and even allows a glimpse at the underwater camera.

Mr. Arnault has connections in the industry, but he remains quite private amidst it all. Not only is he a shareholder in Dior, but he owns the yacht shipyard Royal Van Lent where his yacht was built. His wallflower behavior spurred his desire to trade in his private jet , but thankfully, Symphony encompasses the calm that he continually seeks. It’s doubtful he’ll part ways with her anytime soon.

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SYMPHONY Yacht – Luxuriant $150 Million Superyacht

SYMPHONY yacht is a 101-metre (333 ft) luxury yacht built by the Dutch shipyard Feadship and delivered to the owner in 2015.

She is currently the largest yacht ever built by Feadship and ranks in 51st place on the list of biggest yachts in the world.

SYMPHONY yacht interior

The interior of SYMPHONY was developed by Zuretti Interior Design , a French studio specializing in luxury superyachts.

She can accommodate twenty guests in eight cabins as well as a crew of 38 in below-deck cabins.

The large owner’s suite has a private deck with exceptional sea views and even a separate sauna.

The interior of SYMPHONY is somewhat unusual and unlike other luxury yachts. Most of the floors and ceilings are encased in light wood paneling complemented by wooden furniture and elements of gold as well as natural tones.

The yacht has a grand piano, a swimming pool with a waterfall and jets that simulate currents, a cinema, a gym, and a wellness center. There is an onboard steam room and several saunas.

SYMPHONY has two elevators, one of which features a 15-meter interactive video screen that can play video footage at the request of the guests. 

Specifications

The SYMPHONY yacht has a volume of 3,463 tons and a total length of 101 meters (333 ft). Her beam measures 14.1 meters (46.3 ft) and her draft 4.1 meters (13.5 ft).

She has a steel hull and a large aluminum superstructure.

SYMPHONY yacht is powered by four MTU engines, however, she uses 30% less energy than traditional vessels her size.

Due to advanced hybrid propulsion technology, she is able to store energy in a battery bank that works together with her diesel engines.

The yacht reaches maximum speeds of 21 knots and cruises comfortably at 10 knots.

The exterior of SYMPHONY was designed by Tim Heywood , a well-respected name in the industry.

SYMPHONY is a white yacht with dark blue elements close to the waterline, lending her a streamlined appearance.

She is known for carrying a wide variety of water toys, including inflatables, a slide, jet skis, and sea bobs.

Her aft deck includes a pool, and her bow has a large helipad perfect for allowing her owner to arrive and depart comfortably.

SYMPHONY was acquired by Arnault in 2015 for a price of US$150 million. She has annual running costs of US$10 to 15 million and is not currently available for charter.

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Bernard Arnault : le superyacht de l'homme le plus riche du monde interdit d'entrer dans le port de Naples car il est trop grand

Le bateau du milliardaire français mesure 101 mètres de long, soit 26 mètres de plus que la limite autorisée pour entrer dans le port de Naples depuis cette année.

Symphony , le superyacht du milliardaire français Bernard Arnault, dispose d'une piscine avec un fond en verre sur le pont principal, d'un cinéma en plein air, d'un jacuzzi et d'un sauna, entre autres, mais il a un problème : il mesure 101 mètres de long , 26 mètres de plus que la limite autorisée pour entrer dans le port de Naples .

L'homme le plus riche du monde s'est ainsi retrouvé bloqué vendredi près du Castel dell'Ovo, dans la baie de Naples (Italie), sans pouvoir amarrer son yacht de luxe  dans le port de Mergellina. En effet, le nouveau règlement de la Capitainerie Maritime interdit depuis cette année l'entrée des bateaux de plus de 75 mètres de long, pour des raisons de sécurité.

"Des pertes de 50 000 à 100 000 euros par jour" pour Naples

Comme le propriétaire de LVMH (Dior, Bulgari, Fendi, Givenchy, Louis Vuitton, Tiffany et Moët & Chandon), le bateau  de l'homme d'affaires américain Barry Diller, long de 90 mètres, n'a pas non plus pu rejoindre le port de Mergellina , rapporte le  Corriere della Sera .

Dans les colonnes du journal italien, le président du syndicat des industriels napolitains, Costanzo Jannotti Pecci, s'est plaint de cette mesure et a déclaré que "la renommée d'une ville comme Naples augmente grâce à ces personnes".  "Les répercussions économiques pour Naples seront considérables" , a estimé de son côté Massimo Luise, l'un des administrateurs du port de Mergellina. Il calcule que l'impossibilité d'accueillir ces yachts produira  "des pertes de 50 000 à 100 000 euros par jour, soit des dizaines et des dizaines de millions en une saison".

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Et ben moi, avec ma barque en bois de 3,75 mètres et mes deux rames, je peux y aller dans ce port. Comme quoi, le fric ça fait pas tout, et être petit et inconnu, c'est top...

Problème de riche ! Je suis persuadé que tous les smicards, travailleurs pauvres et futurs retraités de 64 ans vont compatir et verser une larme

Même capable de se renseigner sur les conditions d'entrée dans le port de Naples !... À moins que ce ne soit que pour faire le buzz : si c'est cas, c'est réussi...

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Quand le yacht de Bernard Arnault est interdit dans le port de Naples

Le yacht appartenant au deuxième homme le plus riche du monde, bernard arnault, est victime de nouvelles restrictions de taille dans le port italien de mergellina..

Les milliardaires sont déçus de ne plus pouvoir accoster dans le port de Naples. Et c'est un français, le français le plus riche au monde, Bernard Arnault qui en a fait l'expérience en fin de semaine dernière. Son mega-yacht, le Symphony, long de 101 mètres exactement, est trop gros, trop grand. Il s'est vu donc interdire l'accès au port de Mergellina, le port juste à coté de Naples. Bloqué dans la baie, sans pouvoir amarrer son yacht de luxe. Bernard Arnault patron de LVMH victime comme d'autres milliardaires des nouvelles règles de sécurité de la capitainerie de Naples. Qui interdit désormais tous les bateaux de plus de 75 mètres.

Plusieurs milliardaires se sont émus de la situation. Bernard Arnault mais aussi le magnat des médias américain Barry Diller et son yacht de 90 mètres. Interdit lui aussi d'accoster alors qu'il avait l'habitude de venir à Naples depuis 20 ans.

Les mega yachts trop dangereux pour les autres bateaux

Si les règles ont changé, ce n'est pas pour des raisons écologiques, mais pour des raison de sécurité. La capitainerie explique que c'est trop dangereux pour les autres bateaux, notamment parce que les megas-yachts masquent la signalisation aux plus petites embarcations.

Au delà des milliardaires eux mêmes, les patrons, les industriels italiens sont furieux. Estimant que les répercussions économiques pour Naples seront considérables. La renommée d'une ville comme Naples a besoin de ces personnes, expliquent t-ils.

La preuve en effet de l'attirance du "vulgus pecum" pour ces riches milliardaires. La semaine dernière, un touriste espagnol et fan de DiCaprio s'est presque noyé après avoir tenté de nager jusqu'à un superyacht amarré au large de la Toscane pour apercevoir l'acteur, qui était à bord.

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Bernard Arnault, his mega yacht banned from entering the port of Naples

assonance It remained at anchor all day on Friday near Via Caracciolo, a short distance from Castel dell’Ovo. K’s super yacht Bernard Arnault was not allowed to dock at mergelina the only port of reference a Naples For bigger boats. and so patron lvmh – the multinational company that owns luxury companies including Christian Dior, Bulgari, Fendi, Givenchy, Louis Vuitton, Tiffany, Moët & Chandon, Veuve Clicquot – after a look at capri And the bay moved towards other ports. Where to dock and going ashore is not a problem. Too Barry Diller The CEO of the cinema and media company headed by Expedia and TripAdvisor has left Naples. with him eos – A three-masted schooner who is the husband of a billionaire, fashion designer diane von furstenberg Acquired in 2009 – moved elsewhere. Even his sailing vessel – one of the world’s largest private sailing yachts, 90 meters long – cannot enter Mergelina’s harbor for security reasons, according to a regulation introduced this year by the Harbor Master’s Office .

a provision against which the leaders of Neapolitan industrialists roared Costanzo Iannotti Pecchi , pointing a finger at the law that stops luxury tourism from getting in the way of Naples. A rule that prohibits boats longer than 75 meters is forbidden from entering the marina. Massimo Lewis He is one of the administrators of the Mergelina jetty for VIPs. And he always shies away from commenting on ordinances. “There are rules and we respect them, but in this case It cannot be ignored that the consequences of this provision will be considerable , From this year, the impossibility to welcome a class of highly prestigious yachts will result in the loss of important figures of our sector in economic terms: from 50 to 100 thousand euros per day only for the relevant industries. Tens and millions in one season».

other stops

Boats that do not stop in Naples go farther. Lewis says that many people live in the Mediterranean, but They are on their way to Malta, Spain and France , «It is a pity for Naples, a special city full of culture and tradition and with a reference airport, Will no longer be able to welcome guests of the caliber of Leonardo DiCaprio, Johnny Depp, Jeff Bezos and Jennifer Lopez. who have come here in recent years. I am confident that the competent authorities, who have always supported the excellent tourism industry, will once again find a solution that combines security with the economic and image benefits that our city needs. Tourism is our oil – says Luis -. And we can’t forget that what goes on behind the maxi yacht is remarkable. There are at least ten more trips with each boat and passengers arrive by private planes and they need services that Naples has been able to provide so far: it has been welcoming and active from different points of view. It is an unlimited city with natural, artistic, archaeological beauty, great attractions. It really has a lot to offer.”

The disadvantage is also related to business as there are people who have made their base in the city to do business and evaluate investments in the area. With the new rules, quite frankly, they won’t be able to get off with the new boat Not even the loyal Dolce & Gabbana , Nor think of holding a party here, as they did a few years ago, which brought dozens of ships more than 30 feet tall to Naples and moved millions of people in a matter of days, filling the entire gulf. benefited.

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Bernard Arnault’s “Symphony” Super Yacht Is First Feadship To Cross 100 Metres

The 105 metre luxury superyacht ‘Symphony’ is the first Feadship to cross 100m and it is now owned by the richest man in France, LVMH CEO Arnault

Ranked 50 out of the world’s top 100 superyachts, the 101.5 metre six deck “Symphony” luxury super yacht with its “bones” by De Voogt Naval Architects and designed by Tim Heywood Design is the largest Feadship ever built in 2015 (a record since been broken by the 110 metre Feadship 1001). The Symphony is also the first Feadship to be fully compliant with the new Passenger Yacht Code regulations, allowing more than the usual twelve passengers.

Interior designed by Zuretti Interior Design, it was the first Feadship to cross the 100-metre mark, and it was revealed to be owned by Bernard Arnault, one of the richest men in world.

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First Feadship larger than 100 metres, “Symphony” luxury super yacht is Owned by LVMH CEO

The CEO of French multinational luxury goods conglomerate, LVMH, owns the largest Feadship to be ever built according to Yacht Habor . According to Forbes, Bernard Arnault with a net worth of US$93.5 billion, is one the world’s top ten billionaires and the richest man in France. Unsurprisingly, the man who has been shaping the luxury world for 35 years is bound to own a luxury mega yacht worth US$150 million.

Arnault’s previous yacht Amadeus was sold in 2016 for an asking price of US$50 million euros and has recently donated €200 million to the rebuilding fund for Notre Dame de Paris . The “Symphony” yacht is worthUS$150 million.

Designed by Tim Heywood and built by Feadship in the Netherlands as Project 808, Symphony has a gross tonnage of near 3,000GT. With an aluminium structure, the yacht can house 36 passengers and is an eco-friendly yacht, using 30 per cent less fuel than other similar yachts.

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Symphony has a couple of luxury features such as a 6 metre glass-bottom swimming pool on main deck, an outdoor cinema on bridge deck, and a jacuzzi on the sundeck. While the   owner’s deck is equipped with double bathrooms, dressing rooms and a sauna, a forward terrace with Jacuzzi, a private office and a study, a lounge and a spacious aft deck area for lounging with a dining table for 20.

Arnault interest for the yacht industry dates back to 2008 when Arnault ventured into the yacht industry by leading an acquisition of British yacht manufacturer, Princess Yachts which saw L Capital, a fund controlled by LVMH, gain a 70 per cent controlling stake in Princess Yachts . Feadship, the world leading brand of custom-built luxury mega-yachts, has been working with LVMH closely since 2008.

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World’s Richest Yacht Owners

The world’s richest yacht owners.

It’s no surprise that owning a yacht is popular among the billionaire class. It’s not uncommon for billionaires around the world to not only own one luxury superyacht, but multiple yachts. Not to mention tenders and other high-tech watercrafts. Some of the richest people in the world own some of the largest, most expensive mega yachts. We take a look at some of the world’s richest yacht owners and the luxury vessels they have bought.

Bernard Arnault

Worth a whopping $156.8 billion in 2021, Bernard Arnault is a French businessman and art collector most known as the chairman and chief executive of LVMH Moët Hennessy Louis Vuitton. He is currently the third richest person in the world. 1 LVMH is a French multinational conglomerate and the world’s largest luxury-goods company. Renowned brands such as Dior, Givenchy, Bulgari, and Tiffany & co. are owned by this corporation.

Bernard Arnault Yacht

Bernard Arnault owns the 101.5-meter motor yacht Symphony . Built in the Netherlands by Feadship, this luxury super yacht has four main engines and can carry 20 passengers and 38 crew. A 6-meter glass-bottom swimming pool and outdoor cinema are some of the vessel’s standout features.

Larry Ellison

Worth $90.6 billion in 2021, Larry Ellison is an American business magnate and investor. One of the most famous yacht owners, he is best known for being the co-founder and executive chairman of Oracle Corporation. Oracle Corporation is an American multinational computer technology corporation known as the world’s largest database management company.

Larry Ellison Yacht

Larry Ellison owns the 87.78-meter motor yacht Musashi . Built in the Netherlands by Feadship in 2011, this five-deck super yacht can accommodate 18 guests and 24 crew. Its exterior was inspired by Japanese design and Art Deco style. An outdoor gym and spa are only a few of the vessel’s luxury amenities.

The eighth richest man in the world as of 2021, Larry Page is worth $90.3 billion. He is an American computer scientist and internet entrepreneur best known as one of two co-founders of Google. Google is an American multinational technology company specializing in internet-related services and products which includes the world’s most used search engine, online advertising platforms, and cloud computing.

Larry Page Yacht

Larry Page owns the 58.8-meter motor yacht SENSES . Built and launched by German yacht builder Fr. Schweers Shipyard in 1999, it went under its latest yacht refit in 2015. This luxury yacht sleeps up to 12 guests with accommodations for 14 crew. An expedition yacht, SENSES  features a large helipad, ice-strengthened hull, and three high-speed tenders.

Yacht Management South Florida, Inc. specializes in complete yacht care . As such, we offer premier maintenance services at our South Florida marina including boat bottom cleaning , and hull painting. Our certified yacht technicians can also go to your yacht to provide dockside assistance and emergency yacht repair services .

Contact us today to schedule any technical work or learn more about out our extensive yacht maintenance services and first-class yacht management program!

Additional Reading

• Top 5 Largest Yachts in The World
• List of Famous Yachts in Movies
• Dorothy Neufeld, Visual Capitalist – The Richest People in the World in 2021

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Bernard Arnault: Visionary of Luxury Brands

Neither the pandemic nor the recession have had an effect on the wealth of chairman and CEO of the world’s leading luxury products group: he turned the LVMH family holding into a joint-stock partnership shared equally among his five children

If owners of all companies in the luxury industry could figure out how to make their products timeless, modern, high-quality and innovative, but also high-profitable all at the same time, French billionaire Bernard Arnault’s wealth would probably be not as vast. Bloomberg Billionaires Index estimates him at 171 billion dollars, which makes him the richest European, and recently the richest man in the world. He left behind Elon Musk, the owner of Twitter and Tesla.

Chairman and CEO of LVMH, a conglomerate that manages 75 prestigious brands around the world, the most famous ones being fashion houses Dior, Louis Vuitton, Fendi, Loewe, champagne houses Dom Perignon, Moët&Chandon and Krug, watchmaking houses Hublot, Tag Heuer and Zenith, and jewellery houses Tiffany, Chaumet and Bulgari, he also owns the Belmond hospitality and leisure company, which operates 46 luxury hotels, castles, villas, train services and river cruises worldwide. The Royal Van Lent yacht shipyard , which was founded in the Netherlands in 1849, is part of the LVMH concern. The Arnault Family Group owns 48% of LVMH and has 63.5% of voting rights. The 12-person Executive Committee runs the company, with Bernard Arnault as CEO.

At the annual shareholder meeting early this year, the maximum age of LVMH chief executive officer was raised from 75 to 80. This summer, Arnault Sr., who is 73, changed the legal structure of his family holding company Agache to a joint-stock partnership to ensure family control over LVMH in the long term.

The family holding company will be controlled by Agache Commandite SAS, which will be held equally by Arnault’s five children from his two marriages. All of them are currently employed by the company. His only daughter Delphine Arnault is the Executive Vice President of Louis Vuitton. In early 2019, she became the youngest member of LVMH Executive Committee at 43.

When she married Italian wine heir Alessandro Vallarino Gancia in 2005, the French media called it ‘the wedding of the year’. They divorced five years later. Delphine has a daughter, but, much like all the Arnault children, she is discreet when it comes to her personal life. Antoine Arnault is director of communications at Louis Vuitton, CEO of menswear company Berluti and CEO of Loro Piana, known for its cashmere production. He resembles his father the most and is married to supermodel Natalia Vodianova, born 40 years ago to a poor Russian family in Gorky, Russia. She met the wealthy heir in 2008, while shooting a campaign for LVMH.

The couple lives in Paris with their two children and three others from Natalia’s previous marriage to British aristocrat Justin Portman. Alexandre is the Executive Vice President of Tiffany & Co., legendary US luxury jewellery house that LVMH bought for $16 billion last year. Before assuming his position at Tiffany, Alexandre was CEO at Rimowa, German luggage manufacturer, also owned by LVMH. His younger brother Frederic became Tag Heuer CEO in 2020.

Like his father, he attended the École Polytechnique in Paris, but before joining his father’s company, he did an internship at Facebook and at McKinsey & Company. The dynasty’s youngest member, Jean Arnault, has a Master’s Degree in Mechanical Engineering from London Imperial College and in Financial Mathematics from the Massachusetts Institute of Technology. He is currently Director of Marketing and Development, Watches at Louis Vuitton. Arnault Senior organizes family gatherings at least once a month to discuss business challenges with his offspring.

A wealthy family with five heirs would undoubtedly make for an intriguing series, but Arnault Sr. is only interested in publicity related business and art. In addition to top-class education, he gave his children an opportunity to assume responsibility for business operations early on. This was also how he started and, in his own words, he learnt the most through trial and error. He comes from the town of Roubaix in Northern France.

He studied Engineering at the École Polytechnique, France’s leading engineering school, and began work for his father’s construction company Ferret-Savinel after graduation. In 1984, he entered the luxury world when he convinced his father to shift the focus of the company from construction to real estate. He then purchased Agache Willot Boussac, a struggling company that, among other things, owned the cult Parisian department store Le Bon Marché, but also Christian Dior.

He called his company Financière Agache, ruthlessly cut expenses, sold all unprofitable subsidiaries and started climbing up the business ladder. He got a 97.5 share in Dior, purchased respectable, but neglected brands, brought fresh faces to management positions, invested in marketing and production. He invested more than $2 billion in LVMH’s stocks and finally purchased the company in 1989. In late 1980s, he told the Harvard Business Review that his goal was ‘to run the world’s largest luxury company,’ in which he succeeded.

However, business and personal lives often don’t match, so his marriage to Anne Dewavrin fell apart in 1990. They were married since 1973 and have two children, Delphine and Antoine. A year later, he married Hélène Mercier, who is 11 years younger than him and whom he allegedly won over by playing classical pieces on the piano. She gave birth to three sons and continued her concert career. Above all, she was the silent companion to the ambitious and energetic magnate. They lead a life of luxury in Paris’ Left Bank, close to the Latin Quarter and St. Germain de Pres, and their home is filled with works by contemporary and modern artists, such as Damien Hirst, Andy Warhol, Pablo Picasso, Maurizio Cattelan and Jean Michel Basquiat.

The family established the Fondation Louis Vuitton and their art museum was designed by Frank Gehry. In spring 2019, Arnault donated €200 million for the renovation of Notre-Dame Cathedral, after it was ravaged by a fire. He and his wife spend time with their friends at their St. Tropez and Hollywood Hills villas. He recently sold the $73 million Bombardier Global 7500 private jet, which had a luxury bedroom, bathroom, and restaurant tables, because climate activists started following the jet’s route on Twitter. As he says, this makes him happier and he can rent a plane when he needs to travel.

LVMH’s companies were not immune to the effects of the pandemic and the recession: company stock prices dropped by 6.9% in a single day. However, as soon as the market reopened, their profits in Q1 2022 rose by 28% compared to the same period last year. Europe’s richest man is optimistic about his company’s future because he learnt the secret of growth a long time ago.

‘Customers must want your product and innovation is the ultimate driver behind profitability. Our whole business is based on giving our artists and designers complete freedom to invent without limits,’ he likes to point out in his rare interviews. However, unlike the creative, breezy designers in his companies, the production process in manufactures are strictly planned and defined with engineering precision.

Special attention is paid to masters of various trades in the largest luxury concern. For five years now, the manufactories have been open to the public for a few days, and visitors have the opportunity to see up close how super-luxury products are made. That event, called Les Journées Particulières, attracted more than 200,000 visitors in October, and the annual culmination of the celebration of superb craftsmanship and the rare skills of the craftsmen Arnault calls ‘the beating heart’ took place in mid-December.

At a ceremony in Paris’ Salle Pleyel concert hall, LMVH awarded its 40 top masters with the Métier d’Excellence award, and each virtuoso received a brooch specially designed by the jewelry house Chaumet. It is part of a large project of the concern to present and bring craftsmanship to the young generations, so 280 of the best craftsmen from various brands of the concern visit high schools in France and find their successors among talented and hardworking students. Because only their skills can ensure the company’s survival in the luxury market.

On the other hand, LVMH invests a lot in new technologies. 950 startups applied for their Innovation Award, and 21 of them made it to the finals for the award, which guarantees them a grand entrance into the world of luxury. Although Arnault senior ruefully admits that, unlike him, his children understand NFT and the metaverse very well, conquering the market by maintaining old and creating new values is still exciting to him. Such an attitude was always respected by his business competitors, and it is a legendary anecdote that the late Steve Jobs told him: ‘Bernard, I don’t know if my iPhone will be successful in 50 years, but I can tell you that everyone will be happy to drink yours even then Dom Perignon.’

Text Dubravka Tomeković Aralica

Photos LVMH & Feadship

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