The plan involves a tax of 2 percent on wealth above 100 million euros. Arnault said that the creator of the Tax Plan, the economist Gabriel Zucman, is ‘an extreme left activist’. He would also use his ‘pseudo-academic competence’ to break down the economic system, which according to Arnault is the only system ‘that works for everyone’s well-being’.
The Socialist Party in France performs the pressure on Prime Minister Sébastien Lecornu to include the plan in the budget for next year. Otherwise, another vote of trust threatens, only a few weeks after Prime Minister François Bayrou was sent away.
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Zucman is a professor at the French education and research institution École Normal Supérieure and the University of California. He rejected the accusations of Arnault in a message on X. “I have never been an activist for any movement or party,” he said, adding that his work is based on research and not on ideology.
LVMH is the world’s largest luxury concern with brands such as Louis Vuitton, Christian Dior and Moët & Chandon. Arnault is in eighth place in the Bloomberg Billionaires Index with a capital of 169 billion dollars, converted almost 144 billion euros.