Bernard Arnault: Richest Frenchman Condemns Billionaire Tax

Bernard Arnault, head of LVMH and the richest man in France, has criticized Gabriel Zucman's proposal to tax the ultra-rich at 2%, calling it destructive to the economy.

Arnault, ranked fifth on Forbes' 2025 list, claimed that the 'Zucman tax' is an attack on the French economy and accused Zucman of being a far-left ideologue.

Zucman's proposal concerns the taxation of wealth exceeding 100 million euros and has gained political traction, with the Socialist Party making it a prerequisite for supporting the budget.

According to a poll, 86% of French people agree with the 'Zucman tax'.

Arnault told the Sunday Times that the proposal is not a technical or economic discussion, but a desire to destroy the French economy.

Zucman rejected the accusations, stating that he has never been an activist and that his work is based on research.

Zucman argues that the ultra-rich pay proportionally less tax and that a 2% tax would affect 1,800 households, securing 20 billion euros annually.