Bernard Arnault, in an LVMH earnings call, used a bizarre new term for tech layoffs when referencing a conversation with Meta's Mark Zuckerberg.

While a trillion dollars’ worth of tech money was on prominent display at Donald Trump’s inauguration, the presence of one billionaire and his children raised more eyebrows than Lauren Sanchez ...

The ceremony in the US Capitol underscored the president’s deepening ties to titans of industry and the shifting stances of those who previously scorned him.

WASHINGTON, DC – JANUARY 20: Guests including Mark Zuckerberg, Lauren Sanchez, Jeff Bezos, Sundar Pichai and Elon Musk attend the Inauguration of Donald J. Trump in the U.S. Capitol Rotunda on January 20, 2025 in Washington, D.C. Photo by Julia Demaree Nikhinson – Pool/Getty Images.

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

Mr Trump is more transactional than presidents before him, which increases the risk of cronyism and self-dealing. But America’s economy, including its technology industry, is too unwieldy and dynamic to petrify into an actual oligarchy, whatever diplomats and departing presidents say. ■

RELATED: Live coverage: Donald Trump's inauguration day Among the high-profile attendees were SpaceX and Tesla CEO ... Mukesh Ambani and LVMH CEO Bernard Arnault, making it a rare congregation ...

Losing your livelihood is now doubleplusgood! Bernard Arnault, CEO of LVMH and the world’s fifth richest man, has coined a new phrase for those who are being laid off — “being promoted outwards, so to speak.

LVMH CEO Bernard Arnault calls Mark Zuckerberg’s move to lay off low-performing Meta employees a chance for the workers to be "promoted outwards, so to speak." If you were just laid off, you were actually "promoted outwards." At least that’s how LVMH CEO Bernard Arnault sees it.

France's largest conglomerate LVMH is turning its eyes the the United States in order to avoid higher taxation in Europe. Billionaire CEO Bernard Arnault is also hoping to leverage his friendship with President Donald Trump in order to garner favorable treatment.

The CEO of Tesla & SpaceX, he holds degrees in physics and economics. He briefly attended the University of Pretoria, before transferring to Queen’s University (Canada), and later to the University of Pennsylvania.

Bernard Arnault said he spoke with Mark Zuckerberg about Meta layoffs, which the LVMH boss described as workers being "promoted outwards."