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| Baron Rothschild and Arnault square up over taxes | Baron Rothschild and Arnault square up over taxes |
| (21 days later) | |
| Two of France's most powerful tycoons have squared up to sling insults in a public spat over who should pay what taxes under the country's Socialist government. | Two of France's most powerful tycoons have squared up to sling insults in a public spat over who should pay what taxes under the country's Socialist government. |
| In the left corner, Baron Edouard de Rothschild, scion of the Gallic arm of the banking family and main shareholder in the left-leaning daily newspaper Libération. In the right, Bernard Arnault, billionaire businessman and head of the luxury goods group LVMH – Louis Vuitton Moët Hennessy – the richest man in France, and the world's fourth richest, according to Forbes magazine. | In the left corner, Baron Edouard de Rothschild, scion of the Gallic arm of the banking family and main shareholder in the left-leaning daily newspaper Libération. In the right, Bernard Arnault, billionaire businessman and head of the luxury goods group LVMH – Louis Vuitton Moët Hennessy – the richest man in France, and the world's fourth richest, according to Forbes magazine. |
| It was Arnault who, arguably, threw the first punch when he announced that he was seeking to become a Belgian. This raised speculation that president François Hollande's determination to enforce a new "super-tax" – a 75% band rate for those earning more than €1m (£800,000), no exceptions – might have had something to do with the decision. | It was Arnault who, arguably, threw the first punch when he announced that he was seeking to become a Belgian. This raised speculation that president François Hollande's determination to enforce a new "super-tax" – a 75% band rate for those earning more than €1m (£800,000), no exceptions – might have had something to do with the decision. |
| Libération replied with a front-page picture of a smiling Arnault carrying a suitcase under the headline "Get lost, rich jerk", a play on the comment by Nicolas Sarkozy to a visitor at the national agriculture show. When the man refused to shake his hand, the former rightwing president snapped: "Get lost, poor jerk." | Libération replied with a front-page picture of a smiling Arnault carrying a suitcase under the headline "Get lost, rich jerk", a play on the comment by Nicolas Sarkozy to a visitor at the national agriculture show. When the man refused to shake his hand, the former rightwing president snapped: "Get lost, poor jerk." |
| The tycoon, the paper said, was applying for Belgian nationality so he could move to Monaco. A tax agreement between Paris and Monte Carlo means French people living in the Riviera principality are subject to French taxes. Belgians are not. | The tycoon, the paper said, was applying for Belgian nationality so he could move to Monaco. A tax agreement between Paris and Monte Carlo means French people living in the Riviera principality are subject to French taxes. Belgians are not. |
| Arnault, whose personal fortune is estimated at around $26bn (£16bn), denied he was trying to wriggle out of Hollande's calls for "solidarity", and said he wanted to go north for "personal reasons". He announced he was suing the paper for "public insults and injury", describing the headline as "violent and vulgar". | Arnault, whose personal fortune is estimated at around $26bn (£16bn), denied he was trying to wriggle out of Hollande's calls for "solidarity", and said he wanted to go north for "personal reasons". He announced he was suing the paper for "public insults and injury", describing the headline as "violent and vulgar". |
| Enter Baron Rothschild, who went on French television on Tuesday to mount a strong defence of the newspaper. "I'm not shocked. It's in keeping with Libération's provocative style and I think it's a wonderful marketing operation," he said. | Enter Baron Rothschild, who went on French television on Tuesday to mount a strong defence of the newspaper. "I'm not shocked. It's in keeping with Libération's provocative style and I think it's a wonderful marketing operation," he said. |
| Rothschild said it was the correct line for Libération to take. "It seems to me that when those who are among the most well off are asked to make an effort for two years, an effort of national solidarity, one adapts to this." | Rothschild said it was the correct line for Libération to take. "It seems to me that when those who are among the most well off are asked to make an effort for two years, an effort of national solidarity, one adapts to this." |
| On Tuesday Libération announced in the headline on the story: "Bernard, if you come back, we'll cancel everything." | On Tuesday Libération announced in the headline on the story: "Bernard, if you come back, we'll cancel everything." |
| Again, the headline harked back to a text message Sarkozy was alleged to have sent to estranged second wife Cécilia after meeting third wife Carla Bruni, reading: "If you come back, I'll cancel everything." | Again, the headline harked back to a text message Sarkozy was alleged to have sent to estranged second wife Cécilia after meeting third wife Carla Bruni, reading: "If you come back, I'll cancel everything." |
| Libération carried a front-page advertisement for a new perfume by Yves Saint Laurent, a rival of LVMH, and changed the background to its title from red to purple: matching the colour of the YSL logo that took up a third of the newspaper cover. | Libération carried a front-page advertisement for a new perfume by Yves Saint Laurent, a rival of LVMH, and changed the background to its title from red to purple: matching the colour of the YSL logo that took up a third of the newspaper cover. |
| Libération denied the YSL adverts were a dig at Arnault, saying the spot had been booked a long time ago. | Libération denied the YSL adverts were a dig at Arnault, saying the spot had been booked a long time ago. |
| Arnault, who has opposed Hollande's economic programme, has also denied trying to reduce his tax bill. "I will remain fiscally domiciled in France, and as such, will fulfil all my fiscal obligations, like all French people," he told AFP. | Arnault, who has opposed Hollande's economic programme, has also denied trying to reduce his tax bill. "I will remain fiscally domiciled in France, and as such, will fulfil all my fiscal obligations, like all French people," he told AFP. |
| Meanwhile, Rothschild denied there was anything fishy about his acquiring Israeli nationality, insisting he was a keen equestrian and needed double nationality to take part in the sport "at the highest level". | Meanwhile, Rothschild denied there was anything fishy about his acquiring Israeli nationality, insisting he was a keen equestrian and needed double nationality to take part in the sport "at the highest level". |
| "The acquisition of this second nationality did not deprive the French tax authorities of a single euro. It's completely different, and so is the timing," he said, adding that he was prepared to pay his French taxes "wholeheartedly". | "The acquisition of this second nationality did not deprive the French tax authorities of a single euro. It's completely different, and so is the timing," he said, adding that he was prepared to pay his French taxes "wholeheartedly". |
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