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Fortune

Emma Burleigh

LVMH CEO Bernard Arnault reveals he owned nearly 20% of Netflix, but cashed out too early—his stake could be worth up to $60 billion today

Bernard Arnault Netflix LVMH Kevin Systrom Peter Thiel Apple Louis Vuitton Facebook Mark Zuckerberg Mike Krieger

Bernard Arnault, CEO of LVMH (Credit: Chesnot / Contributor / Getty Images)

Bernard Arnault has made a series of successful buy-ins that have catapulted his wealth to new heights, including the likes of Google and most famously, the luxury giant LVMH. And the billionaire Moet Hennessy Louis Vuitton CEO could have had even another investment win under his belt: He just revealed he lost out on a sizable fortune by selling his Netflix shares early.

“We had almost a full 20% [of Netflix],” Arnault said recently, reflecting back on the investment decision during the Legend podcast. “Yes, I sold too early. We made a very good investment, but since then I think it’s increased 10-fold.”

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