Overview

• Bernard Arnault called the proposed 2% annual tax on fortunes above €100 million a bid to destroy the French economy and labeled Gabriel Zucman an extreme-left activist.
• Zucman rejected the characterization, defended his academic credentials, urged respect for facts, and compared the rhetoric targeting him to Trumpism.
• Other business figures escalated the backlash, with Ledger cofounder Éric Larchevêque calling the plan communist and Bpifrance head Nicolas Dufourcq deeming it completely insane.
• Supporters say the measure could raise roughly €15–€20 billion a year from a tiny share of taxpayers, though some economists estimate closer to €5 billion.
• The prime minister is considering adding the measure to the 2026 budget as polls show 86% support, even as President Emmanuel Macron remains opposed and parliamentary arithmetic is uncertain.