Founders · Mar 5Bernard Arnault (The Richest Man in the World)
Fear of a raid pushed it into the merger with Vuitton, since founder families held only 22% of the capital. Chevalier resigned on January 6, 1989 after losing the fight with Arnault.
Tips
- Arnault played LVMH's two feuding founders against each other, and each thought he was an ally▶ 54:22Chevalier resigned in the corridor on January 6, 1989, saying he had played and lost.
- LVMH's two founders let petty fights over offices and champagne open the door to Arnault▶ 50:58Chevalier himself had compared the merger to a marriage between a carp and a rabbit that would end in divorce.
