The sources argued that Arnault made a personal investment and that the amount of the stock he purchased was too little to be made public. He has investments in a number of other firms, and LVMH’s acquisition of Richemont shares does not indicate that the company is one of his interests.
LVMH and Richemont representatives turned down a request for comment.
The owner of Richemont is 74-year-old South African millionaire Johann Rupert. Specifically, the corporation owns the Cartier brand of high-end jewelry and timepieces.
source: ft.com
