France’s Richest Man Heads to Belgium

    Luxury group LVMH CEO Bernard Arnault leaves the Matignon Hotel in Paris after a meeting with French Prime minister Jean-Marc Ayrault, on September 5, 2012.    AFP PHOTO FRANCOIS GUILLOT        (Photo credit should read FRANCOIS GUILLOT/AFP/GettyImages)

    Francois Guillot/AFP, via Getty,FRANCOIS GUILLOT

    Maybe it was for the waffles. Bernard Arnault, France’s richest man, has transferred his multibillion-euro fortune from France to Belgium. The luxury-goods magnate claims that he has not made the move for tax reasons, but because he wants to ensure that his company remains in his family after he dies. The decision has reignited a debate over President François Hollande’s tax policies, which critics say are driving the wealthy to leave.

    Read it at The Times of London