Arnault denies he is quitting France

FRANCE'S richest man, Bernard Arnault, has denied that he intends to go into tax exile after revealing that he has applied for double Franco-Belgian nationality.

With a fortune estimated by finance magazine Forbes to be €32billion - making him the fourth wealthiest in the world - the boss of luxury goods firm LVMH, said: "I am and will remain a tax resident in France and I will, like all French people, fulfil my fiscal obligations.

"Our country must count on everyone to do their bit to face a deep economic crisis amid strict budgetary constraints."

The bid for Belgian nationality began several months ago, he said, and was "linked to personal reasons".

Although Arnault quit France for the US under the last Socialist government in 1981, his statement said there was no "political interpretation".

However, former prime minister François Fillon directly blamed the government of President Hollande, saying: “When you take stupid decisions you get these troubling results. The head of one of the best businesses in the world, which symbolises French savoir faire and success, known the world over, may be led to change nationality because of the tax policy followed in this country. It is disastrous.”

National Front leader Marine Le Pen said Arnault's move was "scandalous behaviour".

Jean-Luc Mélenchon, leader of the Parti de Gauche, said: "The rich, the important, the powerful have no country other than money. They do not love their country. They are parasites."

Businessman Bernard Tapie said he could not believe it. “France owes him a lot, but he also owes a lot to France. The state notably helped him financially.”
Photo: nicogenin