Photos show crowds storming the headquarters of the world's richest man as they protest France's proposed retirement age raise
- Protestors opposing France's plans to raise the retirement age stormed LVMH headquarters.
- The world's richest man, LVMH CEO Bernard Arnault, and other top execs have offices in the building.
Protestors opposed to the French government's proposal to raise the retirement age to 64 from 62 stormed the headquarters of LVMH Thursday where the world's richest man, LVMH CEO Bernard Arnault, has offices.
Photos show protestors entering the building with flags and flares, but people in the building told The Wall Street Journal that the protestors did not stay for long.
French President Emmanuel Macron proposed raising France's retirement age to 64 from 62 by 2030, saying that France's pension system needs reform to be able to support future generations of retirees. In March, Macron invoked a constitutional power to force the bill through without a parliamentary vote. The country's constitutional council is set to decide on the bill on Friday.
"Apparently our government is struggling to finance our social security and pension system, so money needs to be found where it is, which is in billions in companies like LVMH," Fabien Villedieu, a union leader for Sud-Rail, told the French news channel BFM TV.
Arnault is currently the richest person in the world — and recently saw his net worth surpass $200 billion.
LVMH, the world's largest luxury group and home to Louis Vuitton and Moët, saw its shares reach a record high due to China's reopening and high demand in Europe and Japan, the WSJ reported.
