Arnault, the billionaire CEO of the luxury conglomerate, had criticized proposed French tax hikes earlier this week.

Arnault announced that world-famous jewelers Tiffany & Co will be laying off or “promoting outwards” underperforming workers.

“The golden age of America begins right now,” Trump proclaimed. For his billionaire backers, it has already begun.

The business world has a history of coming up with polite terms to couch unpleasantness. In the past, when it comes to job cuts, CEOs have “let go,” “made redundant,” and “rightsized” staff, among other attempts to avoid saying “laid off” or “fired.

A who's who of tech titans, business magnates, and global elites attended President Donald Trump’s 2025 inauguration, including Musk, Bezos, and Zuckerberg.

LVMH chief Bernard Arnault and Reliance Industries chairman Mukesh Ambani—the world’s fifth- and eighteenth-wealthiest people—attended President Donald Trump’s inauguration events Monday, marking a pair of surprise billionaire appearances at the event attended by a cadre of moguls worth well over $1 trillion.

Elon Musk, Mark Zuckerberg and Jensen Huang are among those expected to hit trillionaire status, with Oxfam suggesting that there will be five within the next 10 years. Within the next ten years five people will hold the title of trillionaire—with a 13-figure fortune to their name—according to a new study from Oxfam.

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

Explore how education shaped the world's wealthiest individuals. From Jeff Bezos' engineering degree to Elon Musk's short-lived PhD pursuit, and Mark

Feeling burned by the holdover of Obama administration appointees during his first go-around, Trump swiftly exiled Biden holdovers and moved to test new hires for their fealty to his agenda.

President Donald Trump is briefed on the effects of Hurricane Helene at Asheville Regional Airport in Fletcher, N.C., Friday, Jan. 24, 2025, as first lady