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France's richest man applies for Belgian nationality to avoid top 75
Bernard Arnault may be France's richest man and perhaps the fourthrichest person in the world but his wealth can't protect him from the slings and arrows of his outraged compatriots.
The news he has applied for Belgian nationality has been met with outrage, from politicians and journalists of all stripes.
They accuse him of being unpatriotic and avoiding taxes, after President Franois Hollande announced he planned to sock it to the rich, with a 75% levy on all income over one million euros.
It's not the first time the boss of luxury goods firm LVMH has pulled this caper. He moved to the United States in the early 1980s during the regime of the last socialist president Franois Mitterrand. But Belgium is an insult too far, even though pop star Johnny Hallyday blazed the way by moving there.
Arnault has also given the story extra legs by suing the leftwing newspaper Libration for its cheeky headline, "Get lost, you rich bastard." Here's the offending front page.
Bernard Arnault the richest man in Europe has ignited an uproar in France over taxes, citizenship, patriotism and what policies the government needs to promote growth.
It's a pretty impressive achievement for one little statement.
Arnault the CEO of French fashion giant LVMH, owner of houses Louis Vuitton the richest man in Europe and Christian Dior is the symbol of France's treasured luxury fashion industry.
So when the face of "Made in France" confirmed that he had applied for dual citizenship in Belgium it struck deep chord in France's national pride.
Far be it from us to wonder why Mr. Arnaultin a borderless single marketwould need a Belgian passport to do business or see his relatives in Belgium. His company insists he will continue to pay taxes in France, where the preHollande top income rate was 46.8%, compared to 53.7% in Belgium.
But if the billionaire's sudden passion for Trappist beer and good chocolate has caught French imaginations,[url=http://www.holisteroutlet.cc]http://www.holisteroutlet.cc[/url], it's because it reminds them that tax rates matter. French President Franois Hollande has made no secret of either his personal dislike of the rich or of his desire to squeeze them for all they're worth. Now the rich are making it clear they don't intend to get squeezed if they can help it.