LVMH shares reached their highest level ever on Thursday as protesters stormed its Paris headquarters, injuring security guards and terrorizing staff. France has been hit by ongoing protests and strikes against the country’s pension reforms which were passed into law on Friday after months of heated debates.
The assault was symbolic. Protesters see LVMH as a symbol of France’s elite and establishment. Filing into LVMH’s headquarters, they chanted “if you need money to finance pensions, take it from billionaires like Bernard Arnault,” French media reported. Arnault is CEO and Chairman of LVMH, and the world’s richest person with a $198 billion fortune, according to the Bloomberg Billionaires Index. “It was very violent,” said one LVMH staff member who was present, adding that some of the group’s security guards had been injured by fires lit during the protests.
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