Bernard Arnault, the billionaire chairman of luxury goods giant LVMH, has voiced his dissatisfaction with France’s economic direction. The 75-year-old,

"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.

Government spokesperson Sophie Primas replied saying that 'everybody must do their bit,' although she conceded that she understood his 'anger.'

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Bernard Arnault lost a spot in the billionaire rankings after LVMH Moet Hennessy posted results that weren’t as strong as some luxury-goods rivals.

He’s someone Trump really looks up to and wants to make happy,” a source said of LVMH CEO Bernard Arnault, the wealthiest man in France.

Luxury giant LVMH is "seriously considering" bulking up its production capacities in the United States, CEO Bernard Arnault said on Tuesday, praising a "wind of optimism" in the country that contrasted with the "cold shower" of potentially higher corporate taxes in France.

There’s a different mood” between the two countries, said the French billionaire. Read more at straitstimes.com.

Bernard Arnault said he spoke with Mark Zuckerberg about Meta layoffs, which the LVMH boss described as workers being "promoted outwards."

For the year as a whole, France's economy kept the same pace as in 2023, growing at 1.1%. Alongside a second-straight year of contraction in beleaguered Germany, the eurozone's largest economy, France's weak rate of growth is weighing on the currency area, which is likely to face continued challenges at the start of 2025.

DFS Group, which saw business activity remain below its 2019 pre-Covid level, was hard hit in particular by exchange rate fluctuations, said LVMH. UPDATED.