LVMH's Bernard Arnault says he regrets selling his early Netflix stake as he missed out on a monster gain
LVMH CEO Bernard Arnault revealed in a podcast interview that he regrets selling early stakes in Netflix and Google. He noted that his family office held significant positions in both companies before exiting too early to capture their massive long-term growth.
Why it matters
The story provides insight into the investment history of one of the world's wealthiest individuals and the difficulty of timing exits in high-growth tech stocks.
Bernard Arnault is the CEO of LVMH. Bloomberg/Getty Images Bernard Arnault says he invested in Netflix in its early days, but sold too soon. The LVMH CEO told the "Legend" podcast that he regrets missing out on the stock's subsequent surge. Arnault also said he was an early investor in Google but sold the stake over the years. Bernard Arnault says he made an early investment in Netflix, and regrets selling it prematurely. LVMH's billionaire CEO discussed the bet during a rare interview on the "Legend" podcast, aired earlier this month. Speaking in French, Arnault told host Guillaume Pley his family office acquired "nearly 20% of Netflix " shortly after its launch, and the wager proved to be a "huge success."
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