Bernard Arnault said a wind of optimism is blowing through the US after Donald Trump’s inauguration as president, in contrast to his native France, where the government is seeking to raise corporate taxes and unemployment is increasing.

The LVMH Moët Hennessy Louis Vuitton titan had prime seating near former Presidents Bill Clinton, George Bush and Barack Obama.

"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.