Two sons of Bernard Arnault, the world’s richest man, have joined the board of LVMH after a shareholder vote, solidifying the family’s control of the French luxury goods company. The new members bring the total of Arnault’s children on the board to four out of five. Alexandre, 31, holds the position of executive vice president at Tiffany, while Frédéric, 29, serves as the CEO of Tag Heuer.

Bernard Arnault and his family are currently ranked as the wealthiest individuals in the world, with a combined fortune of $214 billion. This surpasses other prominent figures such as Jeff Bezos of Amazon and Elon Musk of Tesla and SpaceX. The shareholder meeting where the sons were elected saw overwhelming support, with each son receiving over 93% of the votes cast.

The Arnault family group already holds a significant stake in LVMH, owning 48.6% of the company’s capital and controlling 64.3% of the votes. This level of ownership ensured that the election results were a formality. While two other children from a previous marriage, Delphine, 49, and Antoine, 46, are already serving on the board, the youngest sibling Jean, 26, will have to wait his turn.

In other news, LVMH announced the nomination of Wei Sun Christianson to succeed Antonio Belloni, the group’s number two executive who is departing at the end of March. Christianson, coming from Morgan Stanley, specializes in business in China, a crucial market for LVMH. With a notable presence in China, having an expert like Christianson on board will provide valuable insights into the region’s business landscape according to Arnault.