Free Republic

PARIS, Sept 21 (Reuters) - Bernard Arnault, the boss of luxury goods group LVMH and France's richest man, has attacked a proposed 2% tax on billionaires as an assault on France's economy and denounced the plan's architect as a far-left ideologue. The tax, which would target wealth above 100 million euros ($117 million), has gained political traction in France, where Prime Minister Sébastien Lecornu faces pressure from the Socialist Party to include it in the 2026 budget or face a confidence vote that could topple his government. He accused the plan's architect, economist Gabriel Zucman of being "first and foremost...

Bernard Arnault, the head of luxury giant LVMH, has strongly criticised the European Union for its slow and shaky start in trade talks with the United States. Speaking at a French parliamentary hearing, Arnault said the EU’s handling of negotiations aimed at reducing US tariffs had begun badly. He warned that delays and weak strategy could hurt major European industries, especially luxury goods. LVMH, the company Arnault leads, owns famous brands such as Louis Vuitton and Hennessy. The United States is LVMH’s biggest market. That’s why Arnault is deeply concerned about the 20% “reciprocal” tariffs introduced by President Donald Trump...

Bernard Arnault, the billionaire boss of the world's biggest luxury conglomerate LVMH, has picked a fight with the French government by suggesting that companies could flee France for the United States to escape a planned tax hike. As the government of Prime Minister Francois Bayrou is struggling to fine-tune a budget designed to tackle the country's deficits and debt mountain, Arnault took issue with an expected key ingredient, a special tax on large companies. "I have just returned from the US, and I have witnessed the wind of optimism in that country. Coming back to France is a bit like...

Sephora is in damage control mode after social media rumors that it supported President-elect Donald J. Trump’s campaign sparked calls to boycott the beauty products retailer. Leftists are reacting in the only way they know how to after Trump’s clubbing of Kamala Harris, by lashing out and threatening to punish any who may have assisted with his victory, including Sephora which strongly denied that it had made “big big big donations” to his campaign. Some TikTok users called for the company to be put on the naughty list for the holiday shopping season for the alleged donations, including one video...

Finally, the world’s richest person is no longer a middle-aged American tech mogul or a prodigy serial entrepreneur, but a septuagenarian European from the century-old business of selling designer handbags and luxury cognacs. French billionaire Bernard Arnault, the chief executive of fashion conglomerate LVMH, Monday dethroned Amazon CEO Jeff Bezos as the world’s wealthiest person after LVMH stock, traded on Euronext Paris, climbed to an all-time high above $155, pushing Arnault’s net worth to $186.3 billion, according to Forbes. Arnault, 72, has seen his fortune more than double in the past year as LVMH’s global sales boomed despite the COVID-19...