At LVMH’s annual general meeting in Paris last week, chairman and C.E.O. Bernard Arnault’s premonition about a potential world catastrophe resulting from the escalating conflict in the Middle East sucked up all the oxygen—for all the obvious reasons. “Either it’ll be a world catastrophe with very serious and very negative economic impact—in which case, who can say how 2026 will unfold?” he said. “Or it will be resolved more rapidly in some shape or form that we all hope for, even if it doesn’t seem to be easy—in which case, business will recover and resume their normal course.” Less attention was paid, unsurprisingly, to the statements made by his children, who each presented on their own current projects.