The legendary 94-year-old investor Warren Buffett wrote to Arnault after LVMH raised its retirement age to 80 in 2022, saying the age limit was much too conservative.

Luxury conglomerate LVMH is trying to clear a path that would allow billionaire Bernard Arnault to stay at the helm for nearly another decade — until he’s 85. Shareholders in the company – which owns high-end brands like Louis Vuitton,

Bernard Arnault has frequently described the conglomerate, which posted sales of 84.7 billion euros in 2024, as a family-run firm. The Arnault family’s holding company owns 49 percent of LVMH’s share capital and 64.8 percent of the voting rights.