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French tycoons in war of words over country's planned 75 per cent tax on the superrich
FILES - This combination image shows French financier Edouard de Rothschild in an undated file photo released by the Rothschild office, left, and French luxury goods group LVMH chairman Bernard Arnault on Thursday, Feb. 4, 2010 in Paris. The tycoon stakeholder of French newspaper Liberation has defended his rag’s stinging criticism of another tycoon: Europe’s richest man, Arnault, who’s seeking citizenship in Belgium, where taxes are lower. Edouard de Rothschild said on the night of his paper’s controversial headline Monday, Sept. 10, 2012, which told Arnault, who is worth an estimated $41 billion to “Get lost, rich jerk,” amounted to a “beautiful marketing operation.” It’s thought Arnault is trying to dodge the new Socialist government’s tax of 75% for the highest earners, a charge he vehemently denies. Arnault is suing the paper for “public injury.” (AP Photo/Rotschild Office/Jacques Brinon)
PARIS - The tycoon stakeholder of French newspaper Liberation is defending his paper's stinging criticism of another tycoon: Europe's richest man, Bernard Arnault, who is seeking citizenship in Belgium, where taxes are lower.
Edouard de Rothschild said his paper's controversial headline Monday that told Arnault — who's worth an estimated $41 billion — to "Get lost, rich jerk" amounted to a "beautiful marketing operation."
It's thought that Arnault —the CEO of fashion giant LVMH — is trying to dodge the Socialist government's planned 75 per cent tax on the highest earners — a charge he vehemently denies. Arnault is suing the paper for "public injury."
In a jibe, Rothschild said he would pay French taxes "wholeheartedly."
The newspaper plastered its Tuesday edition with ads for a top LVMH rival, fashion house YSL.
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