Overview

• Economist Gabriel Zucman proposes a minimum 2% annual levy on fortunes above €100 million, covering all assets including unrealized gains.
• LVMH’s Bernard Arnault says the plan aims to destroy the French economy and calls Zucman an extreme‑left activist, echoing business voices who brand the idea insane or communism.
• Zucman denies being a political activist, defends his academic record, urges respect for facts, and likens the attacks to Trumpism.
• President Emmanuel Macron opposes the measure, yet his government relies on Socialist votes, and reports indicate Prime Minister Sébastien Lecornu is considering adding it to the 2026 budget plan.
• An Ifop poll commissioned by the Socialists shows strong public backing at 86%, while annual revenue estimates span roughly €5 billion to €20 billion.