Maxi dividend of one billion to Bernard Arnault's family
The financial company at the head of the empire, Financière Agache, releases a billion-dollar coupon
by R.Fi.
1' min read
Key points
- The 2023 dividend is the highest in 15 years
- The holding company accumulated distributable reserves of 15 billion
- ìGovernance revolves around a family limited partnership
1' min read
Maxi dividend for the Arnault family. Founder Bernard Arnault and his five sons have collected a billion euros from the family company, Financière Agache. The coupon, previewed by Il Corriere della Sera, represents the richest distribution of cash from ordinary business management in the last 15 years, but it is a tiny fraction of the dynasty's assets and holdings. Suffice it to say that the family's holding company, Financière Agache, can theoretically distribute 15.5 billion to the family, net of the billion just reclaimed, i.e. the distributable reserve that appears in the holding company's 2023 balance sheet.
Financiere Agache, not quoted on the stock exchange, controls through Christian Dior 42% of the quoted Lvmh (altogether, the Arnaults come to 48% with more than 60% of the voting rights), a group with 213,000 employees, 86 billion in revenues, 15.8 billion in profits, 350 billion in capitalisation with universally known brands such as Dior, Bulgari, Vuitton, Fendi, Loro Piana, Tiffany, Dom Perignon, Moët & Chandon etc.
Family governance is managed through a limited partnership that in turn Financière Agache. This is Agache Commandité equally owned by the children Delphine (49), Antoine (47), Alexandre (32), Frédéric (29) and Jean (25). Financière Agache's net profit for 2023 was EUR 2.55 billion (EUR 2.45 billion in 2022) and is essentially the treasure trove of dividends received from Dior and Lvmh. What remains after the choice to remunerate shareholders is put into reserves each year, just enough, in fact, to bring the 'account' in the balance sheet to 15.5 billion distributable.
