Photo: AP Images
Bernard Arnault, France’s richest man, is suing a French newspaper for publishing his photo with the words “Get lost, rich idiot!” after he announced plans to move.Arnault, the CEO of luxury retailer LVMH Moët Hennessy Louis Vuitton, is leaving France to go to Belgium. The newspaper, Liberation, published the headline today.
The French have speculated that Arnault is moving to Belgium to escape the government’s plan to charge a 75 per cent tax rate on incomes over $1 million euros.
His planned move to Belgium has created controversy, Women’s Wear Daily reported:
“In a televised address Sunday night, French president Francois Hollande scolded Arnault, who on Saturday acknowledged he has applied for dual French-Belgian citizenship, while stressing that he “is and will remain” a fiscal resident of France.
On Sunday, Hollande confirmed he would introduce the controversial super tax as one measure to reduce France’s budget deficit, and he suggested Arnault should display more patriotism.”
Arnault has said he has created 20,000 jobs in France and has paid taxes there for 20 years.
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