Bernard Arnault, in an LVMH earnings call, used a bizarre new term for tech layoffs when referencing a conversation with Meta's Mark Zuckerberg.

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Luxury goods giant LVMH is the pride of France, but the government nevertheless understands the anger expressed by LVMH boss Bernard Arnault regarding French taxes, said a government spokeswoman on Wednesday.

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.

With the economic outlook in France looking grim, Arnault said LVMH, which owns Louis Vuitton, Dior, Fendi and Moët & Chandon, is "seriously" considering opening more factories in the United States. Such a move would help the company to avoid the tariffs Trump has promised to enact on foreign goods sold in the United States.

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

Bernard Arnault is outpacing Elon Musk and Mark Zuckerberg in wealth gain this year after signs of a rebound in luxury demand boosted LVMH stock.

The luxury goods group headed by Bernard Arnault ends its 2024 financial year with sales of €84.7 billion, down 2% on 2023.

The LVMH Moët Hennessy Louis Vuitton titan had prime seating near former Presidents Bill Clinton, George Bush and Barack Obama.

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

Bernard Arnault said a wind of optimism is blowing through the US after Donald Trump’s inauguration as president, in contrast to his native France, where the government is seeking to raise corporate taxes instead of cutting spending.