Trump’s Billionaire Buddy Warns He Is Hurtling Towards ‘World Catastrophe’

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US President Donald Trump (R), flanked by Chief Executive of LVMH (Louis Vuitton Moet Hennessy) Bernard Arnault, speaks during a visit to the new Louis Vuitton factory in Alvarado (40 miles south of Fort Worth), Johnson County, Texas on October 17, 2019. - A workshop of the French brand Louis Vuitton will be inaugurated in Texas by Donald Trump, in the presence of Bernard Arnault, CEO of LVMH, who had indicated to the American President in 2017 that he was ready to invest more in the United States. (Photo by Nicholas Kamm / AFP) (Photo by NICHOLAS KAMM/AFP via Getty Images)https://thedailybeast-thedailybeast-prod.web.arc-cdn.net/resizer/v2/NZFMCNNTMZHEFDGHQ3TUXP2RHI.jpg?auth=4274e4bbc85c34c7e06a3b1163d9c1c4345128cbe5e058023d74cd964d537ccd&smart=true&width=4347&height=2445" />
NICHOLAS KAMM / AFP via Getty Images

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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