Profile: Bernard Arnault, France’s fickle billionaire

Thirty years of fleeing the French.

The year was 1981 and François Mitterrand had just been elected the first socialist French President in 23 years. His "110 Propositions for France" included some long suppressed socialist party policies: nationalisation, increased minimum wage and a 39 hour week. But of more concern to Bernard Arnault, who’s family owned a construction and property company out of Roubaix, was the L'impôt de solidarité sur la fortune – the solidarity wealth tax.    

Did Arnault stick around to pay his taxes? Not at all. Taking the family cash (then about 40m francs), he fled to Florida and spent the next three years buying up Palm Beach condominiums.  He only returned to France years later to buy Christian Dior and LVMH in 1987. 

With another socialist government in power, why are the French media so enraged that Arnault is planning to do it again? Filling headlines with obscenities and untranslatable swear words is not going to stop a man who for over thirty years has fled French wealth taxes. The only question that remains is whether he follows France’s second richest family, the Mulliezs’, to Belgium or goes to Britain where he has already been welcomed by the Queen with a KBE. Wherever he goes there are sure to be many billionaires that follow.

Bernard Arnault. Photograph: Getty Images

Oliver Williams is an analyst at WealthInsight and writes for VRL Financial News

#Match4Lara
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#Match4Lara: Lara has found her match, but the search for mixed-race donors isn't over

A UK blood cancer charity has seen an "unprecedented spike" in donors from mixed race and ethnic minority backgrounds since the campaign started. 

Lara Casalotti, the 24-year-old known round the world for her family's race to find her a stem cell donor, has found her match. As long as all goes ahead as planned, she will undergo a transplant in March.

Casalotti was diagnosed with acute myeloid leukaemia in December, and doctors predicted that she would need a stem cell transplant by April. As I wrote a few weeks ago, her Thai-Italian heritage was a stumbling block, both thanks to biology (successful donors tend to fit your racial profile), and the fact that mixed-race people only make up around 3 per cent of international stem cell registries. The number of non-mixed minorities is also relatively low. 

That's why Casalotti's family launched a high profile campaign in the US, Thailand, Italy and the US to encourage more people - especially those from mixed or minority backgrounds - to register. It worked: the family estimates that upwards of 20,000 people have signed up through the campaign in less than a month.

Anthony Nolan, the blood cancer charity, also reported an "unprecedented spike" of donors from black, Asian, ethcnic minority or mixed race backgrounds. At certain points in the campaign over half of those signing up were from these groups, the highest proportion ever seen by the charity. 

Interestingly, it's not particularly likely that the campaign found Casalotti her match. Patient confidentiality regulations protect the nationality and identity of the donor, but Emily Rosselli from Anthony Nolan tells me that most patients don't find their donors through individual campaigns: 

 It’s usually unlikely that an individual finds their own match through their own campaign purely because there are tens of thousands of tissue types out there and hundreds of people around the world joining donor registers every day (which currently stand at 26 million).

Though we can't know for sure, it's more likely that Casalotti's campaign will help scores of people from these backgrounds in future, as it has (and may continue to) increased donations from much-needed groups. To that end, the Match4Lara campaign is continuing: the family has said that drives and events over the next few weeks will go ahead. 

You can sign up to the registry in your country via the Match4Lara website here.

Barbara Speed is a technology and digital culture writer at the New Statesman and a staff writer at CityMetric.