One of the world’s wealthiest men and a fashion tycoon who Donald Trump counts among his most prominent international admirers has delivered a stark warning to the president.
Bernard Arnault, CEO of LVMH and the fifth-richest person on the planet, told shareholders at the company’s annual general meeting in Paris that the conflict in Iran is pushing the global economy toward “world catastrophe.”
He complained that his pal’s Middle East crisis had already left a visible mark on his business, cutting the luxury giant’s first-quarter organic sales growth in half, to just one percent.
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