{"id":1939,"date":"2025-03-17T18:22:13","date_gmt":"2025-03-17T18:22:13","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/03\/17\/lvmh-ceo-bernard-arnault-extends-his-own-retirement-age-again-to-85\/"},"modified":"2025-03-17T18:22:13","modified_gmt":"2025-03-17T18:22:13","slug":"lvmh-ceo-bernard-arnault-extends-his-own-retirement-age-again-to-85","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/03\/17\/lvmh-ceo-bernard-arnault-extends-his-own-retirement-age-again-to-85\/","title":{"rendered":"LVMH CEO Bernard Arnault Extends His Own Retirement Age Again to 85"},"content":{"rendered":"
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This isn\u2019t the first time the LVMH head has looked to raise his term limits. Geoffrey van der Hasselt\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n

Is 85 the new 65? Bernard Arnault<\/a>, CEO and chairman of the French luxury conglomerate LVMH (LVMHF)<\/a>, sure hopes so. The 76-year-old billionaire is once again asking shareholders to extend his impending retirement. A proposal to amend LVMH\u2019s bylaws and raise the age limit<\/a> of its CEO and chairman positions from 80 to 85 will be heard during the conglomerate\u2019s annual meeting on April 17, according to company documents. This isn\u2019t the first time Arnault, who has led LVMH for some 35 years, has attempted to prolong his time in power\u2014back in 2022, he successfully raised the company\u2019s CEO retirement age from 75 to 80.<\/p>\n

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LVMH owns brands like Louis Vuitton<\/a>, Dior (CHDRY)<\/a> and Tiffany & Co. Last year, the group raked in nearly 85 billion euros ($92.8 billion) in revenue. Arnault, currently the world\u2019s fifth richest person with an estimated net worth of $170.9 billion<\/a>, has remained tight-lipped over which of his five children will take the reins once he finally steps down.<\/p>\n

Arnault\u2019s four sons and one daughter all currently hold roles within their father\u2019s luxury empire. His eldest child, Antoine, serves as head of communication and image at LVMH, while Delphine is CEO and chairman of Christian Dior Couture. Fr\u00e9d\u00e9ric, meanwhile, was recently named CEO of the cashmere brand Loro Piana. Alexandre and Jean work as head of Mo\u00ebt Hennessy and director of watches at Louis Vuitton, respectively.<\/p>\n

Warren Buffett and Bill Gates also support late retirement<\/strong><\/h3>\n

The LVMH leader has previously found support in his bucking of traditional retirement ages from the likes of Warren Buffett<\/a>, who is turning 95 this year. After initially raising his retirement age to 80 three years ago, the French billionaire reportedly received a letter from Buffett<\/a> saying the new limit was still too low.<\/p>\n

Buffett, who has run Berkshire Hathaway (BRK.A)<\/a> for 60 years, has long praised the seniority<\/a> of his older executives. During Berkshire Hathaway\u2019s annual meeting in 2024, he quipped that \u201canybody who wants to retire at 65 would be disqualified from being CEO of Berkshire<\/a>.\u201d The investor\u2019s thoughts on retirement are admired by fellow billionaire Bill Gates, who is currently 69 years old and last year stated that he\u2019d like to follow Buffett\u2019s lead and continue working for two to three more decades.<\/a><\/p>\n

Such approaches contrast the standard retirement age of 65 in the U.S.\u2014an age that Larry Fink<\/a>, chairman of BlackRock, thinks should be increased. In a 2024 investor letter that pointed to the increased strain of America\u2019s Social Security Administration amid a rise in retired citizens, Fink\u00a0noted that it\u2019s a \u201cbit crazy<\/a>\u201d that the U.S. still abides by a retirement age that originates from the time of the Ottoman Empire.<\/p>\n

Similar financial issues are underway in France, which recently saw French President Emmanuel Macron<\/a> raise the country\u2019s retirement age from 62 to 64 to allow pension systems to keep up with its retirees. French citizens, however, don\u2019t appear to share Arnault\u2019s sentiments around extending retirement. They quickly took aim at billionaires like the LVMH head, arguing they should shoulder some of the responsibility for financing pensions. The protests culminated in more than 100 French workers\u00a0storming LVMH\u2019s Paris headquarters<\/a> in April 2023.<\/p>\n

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