Overview
- LVMH shares jumped 12.22% after improved third‑quarter trends, closing at €597.90 and pulling other luxury names higher.
- Bloomberg estimates Bernard Arnault’s net worth at about $192 billion after a roughly $19 billion one‑day gain.
- The government proposes an exceptional contribution from large fortunes of about €2.5 billion, after a prior high‑income levy delivered roughly €1.2 billion versus €2 billion expected.
- Economist Gabriel Zucman says a planned tax on financial holdings exempts participation shares, which would shield stakes held in companies such as LVMH.
- Left‑wing leaders say they will push an amendment for a 2% minimum levy on the wealth of the ultra‑rich that includes professional assets.