Investing.com -- Bernard Arnault, chairman of French luxury group LVMH, has rejected media reports suggesting a succession battle among his five children, stating his family remains united.

In a post on X responding to recent reports by French daily Le Monde, Arnault dismissed suggestions of family divisions. "With the Arnaults, apparently, there is no discussion, only plotting; no deliberation, only rivalry. It's the stuff of novels," he wrote.

"In the real world, my children run Houses, build teams, make decisions, and — sacrilege — call each other on Sundays," he added, referring to the LVMH brands managed by several of his children. "What is called a Sunday in an ordinary family is called a plot in ours."

Le Monde's reports also examined Arnault's influence through his media holdings, his political connections and his relationship with U.S. President Donald Trump.

Arnault, 77, has led the luxury conglomerate for nearly four decades. Investors have sought more information about who will succeed him, with some viewing the lack of succession planning visibility as a risk for LVMH.

The billionaire oversees the €230 billion ($262 billion) company, which owns brands including Louis Vuitton, Dior and Tiffany. He has not indicated plans to step down or named a successor.

Arnault's five children all hold senior positions within the group. Delphine and Antoine Arnault are from his first marriage, while Alexandre, Frederic and Jean are from his second marriage.

Last year, LVMH raised the age limit for its chairman and chief executive role to 85. At the company's annual meeting in April, when asked about succession, Arnault suggested the question be raised again in seven or eight years.