Wealth tax would be deadly for French economy, says Europe’s richest man

The GuardianSunday, September 21, 2025 at 2:35:54 PM
Wealth tax would be deadly for French economy, says Europe’s richest man
Bernard Arnault, the owner of LVMH and Europe's richest man, has voiced strong opposition to a proposed 2% wealth tax in France, warning that it could cost him over €1 billion and be detrimental to the country's economy. He argues that such a tax threatens the liberal economic model, which he believes is essential for the prosperity of all. This debate is significant as it highlights the tension between wealth redistribution efforts and the concerns of wealthy individuals about the impact on economic growth.
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