France's richest man, LVMH's Arnault, slams proposed billionaire tax
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Bernard Arnault, CEO of LVMH and France's wealthiest individual, criticized a proposed 2% tax on billionaires, claiming it threatens the French economy and labeling its architect, economist Gabriel Zucman, as a far-left ideologue. The tax targets wealth over 100 million euros and has garnered 86% public support, with pressure mounting on Prime Minister Sébastien Lecornu to include it in the 2026 budget. Zucman, who denies being an activist, argues that the ultra-rich pay less tax proportionally than other citizens, which the tax aims to address.
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