Shipping billionaire Rodolphe Saade opposes French windfall tax plan
Rodolphe Saade, the billionaire head of multi-generational family-owned shipping giant CMA CGM SA, has vocally opposed a plan by French lawmakers to impose a windfall tax on corporate profits to moderate the impact of inflation.
CMA CGM SA, the world’s third-largest container carrier, has seen its profits rise dramatically following strong global demand for consumer goods resulting in shipping rates being raised more than ten-fold during the Covid-19 pandemic.