Billionaire Dassault Heir Replaced on Board by 32-Year-Old Son

France’s Dassault aerospace and defense dynasty, one of Europe’s wealthiest families, is increasingly handing power to the fourth generation of heirs.

Thierry Dassault, 68, resigned from the supervisory board of Groupe Industriel Marcel Dassault SAS and was replaced by his 32-year-old son Vincent, according to a regulatory filing. The move is part of a deepening generational shift that has seen younger members of the fractious clan replace their parents as directors.

Thierry Dassault

Photographer: Benjamin Girette/Bloomberg

GIMD, as it’s known, controls the Dassaults’ vast holdings in fighter and business jets, software, real estate, fine wines, an art auction house and Le ...