LVMH CEO Bernard Arnault, once the world's richest man, said a 2% wealth tax would destroy the French economy

"This is clearly not a technical or economic debate, but rather a clearly stated desire to destroy the French economy."

"He said he was surprised by the "caricatural nature" of Arnault's attacks on him, and the tycoon's comments "depart from rationality and are unfounded.""

""Whatever you may think, the time has come to subject billionaires to a minimum tax rate," Zucman wrote on X, calling it an "instrument of justice, socia"

Bernard Arnault, France's richest man and LVMH CEO, criticizes a proposed 2% wealth tax targeting individuals with over €100 million net worth, labeling it a desire to destroy the French economy. Arnault calls Gabriel Zucman a "far-left activist" using "pseudo-academic" expertise to undermine the liberal economy. Zucman, a professor at the Paris School of Economics and UC Berkeley, rejects political motives, calls Arnault's attacks caricatural and unfounded, and argues for subjecting billionaires to a minimum tax rate as an instrument of social justice.

Read at Business Insider