Arnault Tightens Grip on LVMH as His Stake Crosses the 50% Mark

French billionaire Bernard Arnault, Europe’s richest man, further tightened his grip on LVMH after he delivered on a promise to boost his holding in the luxury group beyond the 50% mark.

Arnault’s family raised its stake in LVMH Moët Hennessy Louis Vuitton SE to 50.01%, up from 49.77% at the end of last year, the company said. It now has 65.94% of the voting rights.