#bernard arnault

[thebusylilbee]

Macron is setting France on fire because he wants to save 17.7 billion euros in retirement spending by 2030. meanwhile Bernard Arnault, the richest man in France, is now richer than Bill Gates and Warren Buffet put together with 214 billions in wealth and considered the richest man in the world before Elon Musk........ but god forbid we tax him right ? better to make regular people work longer and harder

[geminni5]

[blatterpussbunnyfromhell]

Vous savez quoi ? Je pense que le SMIC devrait être à 2000€ euros par mois, et que l'âge de départ à la retraite devrait être à 55 ans.

Aussi je pense qu'il faudrait taxer sévèrement tous ceux dont la fortune dépasse 5 millions d'euros et utiliser toute cette thune pour financer les retraites, les hôpitaux, les écoles publiques, etc., et régler les crises de logement, comme ça on éradique les 43 milliardaires en rendant la vie plus juste pour les 67 autres millions de gens vivant en France, y compris celleux qui meurent dans les rues sous -4°C en hiver ou +40°C en été. En fait, en utilisant la fortune de Bernard Arnault uniquement, on pourrait rémunérer tout le reste de la France non pas à 2000€ euros, mais à 2400€ environ. Et c'est seulement la fortune d'un mec.

Imaginez si la fortune des 42 autres était dans les caisses de l'État.

[hysteriabloodline0o0]

Alexander McQueen, John Galliano, Marc Jacobs, and Michael Kors standing with Bernard Arnault in 1999.

[the-bibrarian]

Je viens de vérifier la liste des milliardaires dans le monde, et Bernard Arnault, notre champion national, est passé premier 🥳

Il faut faire savoir à Macron qu'on a trouvé une solution pour les retraites

Oui j’ai découvert ça il y a peu aussi 🥲

Ça ne m’étonne pas tant, concentrer les richesses dans la poche de ses amis capitalistes c’est la priorité numéro 1 de notre président préféré.

Et puis bon, ils sont copains, et les copains c’est important. On peut quand même pas les taxer?!?

Ils ont même été à la Maison Blanche ensemble 💖

[ifreakingloveroyals]

2 July 2012 | Natalia Vodianova, Antoine Arnault, Princess Charlene and Bernard Arnault look at a model walking the runway during the Christian Dior Haute-Couture show as part of Paris Fashion Week Fall / Winter 2013 in Paris, France. (c) Pascal Le Segretain/Getty Images

[kartavyamarg23]

Biography on Bernard Arnault

Bernard Arnault is a French businessman and investor widely regarded as one of the richest people in the world. He was born on March 5, 1949 in Roubaix, France.Arnault began his career in the family construction business and later co-founded luxury Readmore

[sleepyleftistdemon]

[medjoul]

Ancient scribes often recorded the names of unsavoury creatures by writing them upside down as a form of curse and to exorcise demonic spirits.

Time to revive the tradition:

ƃɹǝqɹǝʞɔnZ ʞɹɐW ʞsnW uoןƎ dɯnɹʇ plɐuop uosᴉןןƎ ʎɹɹɐ˥ sozǝq ɟɟǝſ ʇןnɐuɹ∀ pɹɐuɹǝq

[footdeco]

Le Paris FC : Un Nouveau Chapitre avec la Famille Arnault

Bernard Arnault Le Paris FC est sur le point de connaître une transformation majeure avec l’entrée de la famille Arnault, en partenariat avec Red Bull, dans son capital. Ce changement pourrait redessiner le paysage du football français. QUI EST BERNARD ARNAULT Bernard Arnault, né le 5 mars 1949 à Roubaix, est un homme d’affaires français reconnu comme le président-directeur général de LVMH,…

[usa-journal]

LVMH and Formula One Forge a Decade-Long Partnership for Luxury Experiences

LVMH and Formula One have announced a 10-year partnership set to begin at the start of the next F1 season. The collaboration will feature exclusive hospitality, bespoke activations, limited editions, and premium content.

This isn't their first collaboration, as LVMH partnered with F1 during last year's Las Vegas Grand Prix, which was deemed a success. Liberty Media CEO Greg Maffei expressed enthusiasm for scaling their commercial ties, looking forward to working with Bernard Arnault and his team.

LVMH, known for brands like Louis Vuitton, Moet Hennessy, and TAG Heuer, will integrate these iconic names into the partnership, focusing on breaking boundaries both in luxury and motorsports.

LVMH Chairman Bernard Arnault highlighted the shared passion for innovation and excellence between the two organizations, underscoring the significance of this unique partnership.

[frankmweber]

Can money buy happiness?

In my previous post I looked at the distribution of wealth, which then obviously leads to the question of whether money can buy happiness. And according to recent research more seems indeed to be better. This is according to new research by Matthew Killingsworth, a senior fellow at the Wharton School of the University of Pennsylvania, which shows that the correlation between wealth and well-being…

[boricuacherry-blog]

[mightdeletelater]

the t word ... it's coming sooner than we think

*this was originally posted on my substack, which you can view here

We're heading towards naming the first trillionaire. In the pursuit of a fair democracy, the escalating influence wielded by the ultra-wealthy poses a disaster we probably cannot tolerate.

Most business reports predict the imminent emergence of the world's first trillionaire within the next decade. This isn't surprising, per se. We know that quite a few of the current wealthiest individuals on the planet have doubled their fortunes since 2020.

But I can't even wrap my head around a trillion.

Twelve zeros. 

1, 000, 000, 000, 000

The implications of minting the first and how it differs from the wealth held by past oligarchs raise questions about societal consequences.

I remember the first time I went to the Rockefeller Centre in New York and just being so shocked at the absolute size of it. I spent the next few weeks obsessively reading about the family, specifically John D. Rockefeller and how he cumulated his wealth. He is honestly a great starting point in understanding the evolution of extreme wealth. As the world's first billionaire, he capitalised on the burgeoning demand for gasoline, establishing a monopoly in the oil industry.

But billionaires today are more characterised by wealth derived from knowledge, ideas, and speculative ventures. And their earnings are categorised as "unearned" by tax agencies, denoting income derived from investments. Unlike us ordinary people who pay double-digit tax rates on income and asset profits (if we're so lucky to have any), billionaires can borrow against their growing investments without incurring taxes, enabling them to pay lower tax rates than the average person. 

Present-day moguls revel in their nearly divine authority over the politicians they finance, the platforms they possess, and the industries they have essentially monopolised. We know that rich people are not getting smarter. Policy failures are giving them a helping hand. There is no system to stop individual wealth from becoming something like that guy in the movies who gets first place at the local fair's eating competition – wolfing down massive portions of the economic pie. The arrival of a trillionaire is concerning when you think about the ongoing struggle for economic balance and a robust democracy.

Current billionaires influence various spheres, owning media outlets that shape public opinion and contributing to political campaigns that align with their interests. Quite a few of them have held or sought political office, often supporting conservative positions that protect their wealth. Classic example: Elon Musk on TwiXer arguing that housing is too expensive because of immigration.

The loopholes in our inheritance tax system are so extensive that billion-dollar fortunes can seamlessly transfer across generations, evading taxation altogether. Take the Nike founder, Phil Knight, who successfully moved over $6 billion into a trust for his descendants without incurring estate or gift tax. Or Bernard Arnault, the richest person on Earth. Arnault owns LVMH, the luxury goods company, through holding companies under his control. In 2023, dividends totalling approximately $3 billion were disbursed to the Frenchman's holdings by LVMH. These dividends are subject to minimal taxation since corporate entities technically receive them. So Arnault can effectively utilise these funds as if they were directly deposited into his personal bank account, provided he channels them through other incorporated entities, be it for his two children or acquiring additional companies.

We are regressing amid the global challenges of wars, plagues, and economic crises. And it is so evidenced by the imminent rise of the trillionaire.

So, now that we know they are coming sooner rather than later, the question becomes how do we ward them off? Our governments need a 'radical' approach. Radical is, of course, in quotation marks because I don't actually think legally capping the maximum amount of wealth an individual can possess is really that extreme. But, you know, others would disagree. 

Establishing a tax system that maintains wealth distribution within sensible bounds is entirely feasible. Effective taxation of accumulated wealth, actual income (including unrealised profits), and intergenerational wealth transfers could achieve this. A worldwide initiative urging countries to enact a global 2% tax on billionaires' surplus wealth is being led by economists. 

The aspirations of ordinary individuals worldwide are often sidelined to fund the ambitions of figures like Bezos, Musk, Knight, and Arnault. From space exploration, Martian settlements, and underwater civilisations to Western-style ghost towns, floating cities, and the Metaverse, these are all hobbies pursued solely by oligarchs. They resemble perpetual thirteen-year-old science fiction enthusiasts who never grasped the disparity between utopian ideals and dystopian realities.

Bezos himself admitted it himself. After his inaugural space voyage, he thanked Amazon's employees and customers for footing the bill.

This revelation was remarkable: to imply that people labouring for 12+ hours a day, migrant workers being forced to work under unlawful conditions and delivery drivers urinating in water bottles are all a fair price to pay for Bezos to get to play with his toy rocket. Such is the essence of oligarchy; their jet fuel costs the simple price of everyone else's blood, sweat and tears.

The impending emergence of a trillionaire class will relentlessly extract from the masses, and as we edge closer to unparalleled wealth accumulation, addressing economic inequality necessitates encompassing tax reforms, fortified democratic institutions, and global initiatives for redistributing resources. How can these steps not be imperative for nurturing a fairer, more sustainable future?

[carolamandaus]

Luxury Titans Exploring the Success of Bernard Arnault & Family

Bernard Arnault & Family stand as titans in the world of luxury, their influence spanning across fashion, accessories, wines, and spirits. Studying their success offers invaluable insights into the dynamics of the luxury market and the strategies that propel such iconic brands to global acclaim.

[pink-jellyfish-mewmew]

We watched "Powers of Ten" by IBM (very good video, highly recommend) and I thought it also works well to visualise wealth.

If you say 1$ net worth equals 1m of the side of the square, the square of the richest man alive would cross the orbit of Venus, Mars and Mercury. The video cuts of around the time his net worth of 233 Billion =2.33•10¹¹=230 000 000 000 USD is reached.

Now imagine travelling this distance. The speed is obviously how fast you get money. 1$/h=1 m/h =0.001km/h. Or 1km/h=1000$/h

If you ride a bike at 20 km/h or you have an hourly wage of 20k, you'd need 1329 years and 11 months of constant riding/working.

In a car averaging at 60km/h 443years, 4months and 21,5h.

If you fly the fastest manned plane at 7274 km/h you'd need to fly for over 1300 days or over 3.6 years. If you started at January first at midnight you'd be finished at August 27th at 15:53.

If you fly the fastest a human went at 39 897 km/h (return of the Apollo 10), you'd "only" need 9 months and 8 h.

Fun fact: 233 Billion USD is unimaginable much money, but still less than 2³⁸