The 5th richest person in the world is complaining 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, said he is “worried” and “penalized” by the new surtax imposed by Emmanuel Macron for one year.

One of the richest 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 opinion, the enthusiasm of billionaires is at its peak there, contrasting with the situation in France.

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

Included in the 2025 budget by Emmanuel Macron, this measure imposes a tax increase of 15 to 18% for large companies.

Among them is LVMH, owned by Bernard Arnault, targeted as part of a plan to reduce France’s growing budget deficit.

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

Its net profit amounted to 12.55 billion euros (about 13.1 billion US dollars).

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