Belgian dream ends for France’s richest man

PARIS (AFP) ― France’s richest man Bernard Arnault has withdrawn his application for Belgian citizenship, he said in an interview on Wednesday, after the move caused a huge outcry in the country.

The head of luxury group LVMH applied for the citizenship last year as Paris moved to impose a 75 percent tax on incomes above one million euros ($1.6 million), although he had always denied doing it for tax reasons.

“I explained several times that I would remain a resident in France and that I would continue to pay my taxes there. In vain ― the message did not get through,” he told Le Monde newspaper.

“Today, I have decided to clear any ambiguity. I am withdrawing my demand for Belgian citizenship.”