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Dublin: 10 °C Monday 20 May, 2013

France’s richest man to sue paper which told him to ‘get lost’

Bernard Arnault has created controversy with news that he is to become a Belgian citizen but he says he will continue to comply with French taxes which are set to rise for millionaires.

LVMH chairman Bernard Arnault delivers a speech in Paris (File photo)
LVMH chairman Bernard Arnault delivers a speech in Paris (File photo)
Image: JACQUES BRINON/AP/Press Association Images

FRANCE’S RICHEST MAN said he would sue a newspaper over its front-page headline — “Get lost, you rich idiot!” — which came in response to news he has applied for Belgian nationality.

The headline in the left-wing Liberation daily was aimed at Bernard Arnault, boss of the luxury conglomerate LVMH, who insists his move is not aimed at avoiding new taxes about to be imposed by France’s new Socialist government.

“Bernard Arnault has no other choice, given the extreme vulgarity and the violence of the headline… but to sue Liberation,” he said in a statement that said he was suing for libel.

The headline, superimposed on a photo of the smiling LVMH boss carrying a red suitcase, is a play on a comment by ex-president Nicolas Sarkozy, who publicly muttered “Casse-toi, pov’ con” (“Get lost, you poor idiot”) at a man who refused to shake his hand.

The words became a taunt used by Sarkozy’s left-wing critics.

Arnault, the world’s fourth-richest man whose fortune Forbes magazine estimates at $41 billion, was close to Sarkozy.

He said Sunday he was not becoming a tax exile, despite seeking Belgian nationality as France moves to impose a 75-percent tax on top earners.

“I am and will remain a tax resident in France and in this regard I will, like all French people, fulfil my fiscal obligations,” he told AFP.

- (c) AFP 2012

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Comments (20 Comments)

  • Hey U2, look at this guy!

    Reply
    • Feeds 11/09/12 #

      Yes, U2 are a good example of rich people chased out by a greedy tax man. People who make millions will always pay as little tax as possible, it’s common sense. Holland offered them a better deal, they moved their affairs to Holland, it would be stupid for them not to.

      It’s all good, it’s tax competition, it’s what Ireland does to attract American companies with the 12.5% corporation tax.

      Reply
  • Say what you will but 75% tax rate is just mental

    Reply
    • If there is a minimum wage then there should be a maximum wage ..5% of the people control 95% of the wealth …that not equality

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    • Maybe, but then again. Just like here there is so many tax loop holes the rich pay no where near the actual rate. So if you want to get nearer the actual rate you end up raising it. At least they are trying something. Also and before all the right wibg nut jobs or excuse makers for the super rich jump on the old ‘what if they leave’ bandwagon. Think on this!!! they already have, where do you thunk they invest mist if their money anyhow? that’s right off shore….. So here let ne wave you off, you’ll be missed…

      Reply
    • Feeds 11/09/12 #

      Maximum wage? This is not only economically absurd and unrealistic, it’s extortion.
      A nation is wealthy with its people’s wealth, not with its exchequer’s.

      Rich people are rich because they are smart, they will not pay a silly tax like that. It’s pure populism to make the poor feel good.

      Reply
  • I’m all in favour of *fair*, progressive tax systems that are not full of loopholes that are exploited by people wealthy enough to afford good accountants.

    A 75% tax rate on the wealthy is shooting yourself in the foot. It’s just going to cause a flight of capital.

    To be fair to this guy, he’s moving to Belgium. It’s hardly what you’d call a tax haven! It has some of the highest tax rates in Europe.

    However, there’s going to be a hell of a lot of wealthy French people suddenly declaring their residence in places like Monaco, Luxembourg, Andorra, Switzerland, the UK and maybe even Ireland.

    France’s tax hike is just going to see more tax income in places like London and Zurich.

    Reply
    • where do you think the vast majority of their wealth already lies? at home in banks, companies etc? nope, off shore so it can’t be touched. Technically, they’ve already left.

      Reply
    • David
      This guy is saying he no longer wishes to be French.
      The fourth richest person in the world and Chairman of a huge Company would be responsible for massive annual reinvestment by his Company and no longer wishes to be a part of the Nation that has publicly humiliated him!
      You don’t need more than three or four brain cells……..just enough the be an admirer of the extreme Left to realise the massive future damage this will cause to France and the enormous negative consequences for employment and taxes outside of his personal liabilities.
      When taking all of this into account we still have retarded minds saying adieu if this is to be laughed at or ignored. Isn’t ignorance a most wonderful place to be hungry and cold?

      Reply
    • David
      This guy is saying he no longer wishes to be French.
      The fourth richest person in the world and Chairman of a huge Company would be responsible for massive annual reinvestment by his Company and no longer wishes to be a part of the Nation that has publicly humiliated him!
      You don’t need more than three or four brain cells……..just enough the be an admirer of the extreme Left to realise the massive future damage this will cause to France and the enormous negative consequences for employment and taxes outside of his personal liabilities.
      When taking all of this into account we still have retarded minds saying adieu as if this is to be laughed at or ignored. Isn’t ignorance a most wonderful place to be hungry and cold?

      Reply
  • Exact same thing would happen over here if a 75% rate was introduced. The unfortunate truth is that it will be the PAYE middle classes absorbing the brunt of the tax void…

    Reply
  • Extreme vulgarity and violence of the French headline hahaha people lives are ruined and this guy thinks been called an idiot is vulgar and violent.The sensitivity of the elite eh not so sensitive when it comes to the suffering of the majority.Viva la France.

    Reply
  • “con” doesn’t mean idiot, it is more of a C yoU Next Tuesday kind of expression,
    also “FRANCHE’S” is no way to start an article

    Reply
  • A slight addendum to the accusation that the wealthy have huge numbers of loopholes from which they benefit enormously……in this country the average taxpayer leaves hundreds of millions in allowances or loopholes as some idiot called them on the Revenues plate every year by not claiming for them. Even something straightforward such as bin charges or medical expenses and they fail to make a simple claim which could be done over the counter at a local tax office.

    Reply
  • Darren 11/09/12 #

    He looks like the paper was right.

    Reply
  • This hobbit should get over himself.

    Reply
  • Gee, things must be getting really bad in France if one is made to move to Belgium. Belgium has the highest concentration of socialists per capita in Europe, second only to ‘consultants’ serving the needs of EU bodies placed there.

    Reply

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