The 5th richest person in the world complains about a one-year tax

Bernard Arnault, the head of LVMH, which owns luxury brands including Louis Vuitton, Christian Dior, Sephora, Tiffany & Co., and the fifth richest person in the world, expresses that he is “worried” and “penalized” by the new tax surcharge implemented by Emmanuel Macron for one year.

Bernard Arnault dénonce la surtaxe des entreprises prévue dans le budget 2025, le gouvernement dit « comprendre sa colère » mais justifie la mesure

— Le Monde (@lemonde.fr) 2025-01-29T12:33:12.321488+00:00

One of the wealthiest men in the world criticizes this temporary tax measure, stating that, in the meantime, his American counterparts continue to thrive.

Back from the United States, Arnault emphasizes that, in his view, the enthusiasm of billionaires there is at its peak, contrasting with his situation in France.

These statements from the billionaire come as the French government has instituted a new surtax primarily targeting large companies in the luxury, defense, and construction sectors.

Incorporated into the 2025 budget by Emmanuel Macron, this measure includes a tax increase of 15 to 18% for giant companies, including LVMH, owned by Bernard Arnault, aimed at reducing France’s growing budget deficit.

According to Le Monde, in 2024, LVMH generated a revenue of 84.7 billion euros (over 93 billion US dollars), recording a decrease of 2% compared to the previous year, with a net profit of 12.55 billion euros (13.1 billion US dollars).

According to Forbes, Bernard Arnault, CEO of LVMH, ranked fifth among the world’s richest individuals, with an estimated fortune of 168.8 billion dollars as of January 1, 2025.