Richest French people park 20 billion assets in Belgium

Ten of the 100 richest French individuals or families have interests worth 15 billion euros in companies with their registered office in Belgium. This is according to a study by L’Echo. The newspaper started from the ranking of the largest 500 French fortunes according to Challenges magazine. An additional 5 billion euros is added when also the names that are between the hundredth and five hundredth place on the list are included.

In total, forty of the 500 richest French people participate in Belgian companies for 20 billion euros. About half of them are domiciled in Belgium. This French interest in our country is still the result of the so-called wealth tax, which the former French president François Hollande introduced.

The most striking name is that of Bernard Arnault, the CEO of the luxury holding company LVMH. He tried to naturalize himself as a Belgian, but that met immense criticism in France, so he backed out. This does not alter the fact that part of his capital flowed to Belgium.

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