The Latest Evader Of The French Millionaire Tax: The Former French President

Tyler Durden's picture

That even former French president Nicolas Sarakozy plans to start a £1 billion private equity fund in London is not news: courtesy of ZIRP and the ongoing global reliquifiication of markets by every central bank as currency warfare goes ballistic, one would have to be seriously unlucky to chase the central planner inflated beta rally and not succeed (one would also have to be very unaware of the difference between nominal and real returns, but since that is most people these days, let's ignore that). What is news, is that as part of said transfer to the "asset management business" it is none other than the former French president who is next in line to evade Hollande's millionaire tax by crossing the Channel, and "redomiciling" himself in London.

From The Mail:

Nicolas Sarkozy is preparing to move to London to set up a billion pounds plus investment fund, it was claimed today.


If the move goes ahead, the controversial Frenchman will become the latest to escape a potential top tax rate of 75 per cent in his home country.


He and his former supermodel third wife Carla Bruni-Sarkozy would be likely to settle in an affluent district like South Kensington – so becoming the most high profile Gallic celebrity couple in the city.

However, unlike Obelix, Sarko has other motives to expatriate than just avoiding the direct consequences of his socialist successor's "fairness doctrine" digging deep into his pocket.

But the former president is under investigation for corruption in France, and if he does cross the Channel there will be outrage.


Details of the planned move were uncovered during a raid by fraud police on Sarkozy’s Paris mansion last June.


Mr Sarkozy is said to have taken the money from Liliane Bettencourt, the I’ Oreal heiress – a claim the politician denies, but for which he could still receive a prison sentence.


He is also being investigated over numerous other funding scandals, including one linked to arms sales to Pakistan, and another in which he is said to have used millions in taxpayers’ money to pay friends to produce opinion polls while he was in office.


Mediapart suggests that the planned London move would create a ‘conflict of interest’ – not only because Sarkozy is being investigated, but because a former French president should not choose the UK as a base to make his fortune.

Maybe. But what it will certainly create is even more bread and circuses: after all the primary goal of the ruling kleptocracy is to keep the peasantry distracted from learning the one key abovementioned distinction: that between nominal and real, a distinction which everyone will soon have no choice but to learn when the realization comes that a record high in the Russell even as the global economy is flatlining at best and continues to deteriorate at worst, is not due to such concepts as a "free lunch."

Artist's impression of Sarko running away from taxes, criminal allegations and/or other noxious stimuli.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
jeff314's picture

Va chier Sarko

Say What Again's picture

Lets take a poll. Who lies more?

The Chinese gov or Sarko & his French Henchmen?

Pladizow's picture

Polititians and diapers have to be changed often and for the same reason!

Desert Irish's picture

A guillotine could fix quite a few problems in France at the moment...and Europe for that matter....


Carl Spackler's picture

just wait 4 years.

Barack Obama will be starting a private equity fund in promote Orinoco drilling investment.

knukles's picture

Liberal Hypocrisy on Display

DaveyJones's picture

it's a disease. treatment not jail. Oh fuck it, just jail.

Say What Again's picture


You should strive for a more "Fair & Balanced" approach to delivering the news.

Next time you show a picture of Sarko you should also include a photo of some perfect french tits!

hedgeless_horseman's picture



Voila!  The former First Lady of France, Carla Bruni Sarkozi.


Tres tres fair, et tres tres balanced.

falak pema's picture

that reconciles me with life; even migdets have hidden talents; like Woody allen... 

who needs a billion dollars, one boner for every dog is enuff, if that is the mistress of the lawn when you bark at dawn. 

krispkritter's picture

Please tell me it's the money...

Yardfarmer's picture

man is the plaything of woman and woman is the plaything of the devil. and to a man they all wanted to suckle at the breasts of the Khazar homunculus' harlot. 

edifice's picture

I'll be spending the remainder of the evening in the bathroom...

Race Car Driver's picture

Get a grip - it's just a pair of tits.

Beam Me Up Scotty's picture

He should just move to the US. He can pay tax like Uncle Warren does and stay out of jail like Corzine does.

MillionDollarBonus_'s picture

Sarkozy is a right-wing extremist. It doesn't surprise me one bit that Sarkozy is refusing to let Hollande redistribute his property for the common good. Like all right-wingers and big-shot businessmen, he is driven by selfishness. There is more to life than keeping 100% of your property. People need to learn to be less materialistic and let politicians take just a little more in order to spread virtue and happiness.

CPL's picture

Dude you are out of character for the Million dollar bonus.  Selflessness...

Beam Me Up Scotty's picture

How much is enough MDB? 50%? 60%? When you add together federal, state and local income taxes, Social Security, Medicare, property taxes, sales taxes, fees etc there are a lot of people paying over 60% now. That's six days of every 10 you are working for the government. That's MORE than fucking enough.

MillionDollarBonus_'s picture

Boo hoo, cry me a river. You can afford to pay more. If politicians were able to take just a little more, there would be a global revolution in poverty reduction. It's time to end poverty once and for all. No more excuses - everyoen needs to do their part and give the politicians what they need - STARTING TODAY.

Pure Evil's picture

Nice try Million Dollar Doofus, but if the politicians were really interested in reducing poverty Cuba would be a veritable paradise. Everyone would be moving to Venezula and China would be Xanadu. But, let's not mention India, Pakistan, Afghanistan, or Mexico in any of this.

And, of course, let's not mention LBJ's War on Poverty, or the Great Society and the trillions spent attempting to raise the downtrodden out of poverty. And yet.......poverty continues to exist.

Beam Me Up Scotty's picture

You forgot to mention the Uber Mecca of the Left, North Korea.  One fearless leader, many fearing slaves.  Of course, if you are born into a slave labor prison, you don't know that there is a better world out there.   Thats the world MDB stives for, when everyone is a slave, no one will think they are a slave.  Or when everyone is dirt poor, no one will be dirt poor, because they won't know any better.

Notice how MDB can't quantify a "how much is enough" question?  Its because there is NO AMOUNT that is enough.  Taxes have crept up since the beginning of the last century when they so called "temporary" income tax was introduced.  What happens when the government consumes 100% of every ounce of labor that its citizens produce?  Whip them more to work harder?

A Lunatic's picture

I'd love to give them what they need............

forwardho's picture

I believe MDB's kid has hacked his dads computer. The syntax is all wrong.

Kid, your in for a whooping when papa MDB gets home and finds out you trashed his persona.

Random_Robert's picture

Not your best work, MDB...

C+   (a generous C+ at that)

tenpanhandle's picture

What?...... a downgrade?  18 months of no posting for you.

sotto's picture

Yeah, people just need to learn how to let themselves be robbed.  Crazy right wingers thinking they should keep all their property - WTF.

A Lunatic's picture

Is that you Chewbacca?


  "The truth is, in order to get things like universal healthcare and a revamped education system, then someone is going to have to give up a piece of their pie so someone else can have more"  -Michelle Chewbaca Obama-

PontifexMaximus's picture

Il a complaitement raison avec un connard comme Hollande, ca vaut pas la peine. Wish him good luck, the brits are not waiting for the frogs.

knukles's picture

Like the Brits aren't gonna tax peckerheads like him at new and improved big rates, either....

Turds like Snarko deserve to be starved in a tin poorhouse

Lost Wages's picture

Meanwhile his brother Oliver is screwing Mary-Kate or Ashley Olsen. I'm not sure which.

chubbyjjfong's picture

In order to perform such an act, he too would have to wear his little platform shoes.

azzhatter's picture

Both, they are a package deal

Say What Again's picture

Is there a "Sarko Index?"

Dr. Richard Head's picture

Typical elitist hypocritical piece of garbage.

EscapeKey's picture

The solution to this is clearly even higher taxes, more tariffs, and capital controls.

emersonreturn's picture

watching france is like watching rim a year ago...  but europe is a never ending casino.  a friend recently returned from greece.  apparently the chinese and russians are buying up whatever they can find, for example, if you buy a $60,000 house you receive citizenship which in turn grants you access throughout europe.  for the russian mafia it's a dream come true, for the chinese a simple way to secure another passport.

ziggy59's picture

You think Carla married him for his looks?

Ive seen better legs on tables

Dr. Engali's picture

I've seen a better face on a clock.

john39's picture

in troll circles from which he comes, he is considered quite handsome.

ThirdWorldDude's picture

Genetic diversity. Unlike his inbred elitist associates, Sarko's half-Hungarian.

krispkritter's picture

I've seen better shit on a shingle...he does look good in stripes though. As would Corzine, Bernanke, nauseam.

topspinslicer's picture

you can run but you can't hide old fat man