Belgium a favourite destination for the cash of France's most wealthy
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Loading... - Julien Heeren
- 04 Apr 2022
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Ten of the one hundred richest French individuals or families have investments totaling 15 billion euro in companies with their headquarters registered in Belgium. The newspapers based their report on an analysis of the French business magazine Challenges’ top 500 ranking of the richest people in France.
L'Echo and De Tijd’s figures show that a large portion of the cash that France’s most wealthy transferred to Belgium to avoid wealth tax in France never finds its way back to their home country.
One of those on the list of wealthy French people with extensive financial interests in Belgium is Bernard Arnault (photo above). Mr Arnault is the CEO of LVMH whose products include dozens of luxury labels such as Christian Dior, Louis Vuitton, and Dom Pérignon.
Bernard Arnault even attempted to become a Belgian national. However, he changed his mind after this met with immense criticism in France. Nevertheless, at least some of Mr Arnault’s fortune has flowed into Belgium. Three of his Belgian companies, Pilinvest Participations, Pilinvest Investissements and Belholding, have their head offices in the Blue Tower office block on the prestigious Louizalaan in Brussels. The three companies have an 81% stake in Agache, a holding company with interests in, among others, LVMH. All together Bernard Arnault’s assets in Belgium amount to 7.7 billion euro. Read More...
