Billionaire Bernard Arnault Uses the Media Outlets He Has Acquired for His Own Interests — Le Monde
The French newspaper Le Monde published an investigative report on how billionaire and LVMH conglomerate owner Bernard Arnault allegedly uses the media outlets under his control as a tool to advance his own interests.
According to the journalists, Arnault requires the publications under his control to uphold conservative views, avoid covering topics that are inconvenient for him—particularly issues related to the taxation of the wealthy—and refrain from criticizing LVMH’s competitors, including Hermès and Kering.
The investigation notes that the billionaire may also influence advertising budgets: independent media outlets that criticize his activities are allegedly deprived of advertising revenue.
Separately, Le Monde mentions a 2019 incident in which it was revealed that journalist François Ruffen, who had made a documentary about LVMH, was being followed. According to the publication, the operation was linked to a request from the company. At the same time, Le Monde emphasizes that its editorial independence is protected by a corporate governance system designed to prevent shareholders from interfering with the work of journalists.
Bernard Arnault is one of the world’s richest people and heads the LVMH group, which includes dozens of luxury brands, such as Louis Vuitton, Dior, Moët & Chandon, and others.
Source: Le Monde
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