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.

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ziggy59's picture

How come foreign countries dont have same or similar income tax laws as the IRS?
You know, the ones where it dont friggin matter where u live, and you gotta pay up if you expat?

NotApplicable's picture

Because without a global empire to enforce the law, it just serves to make them look powerless and ineffective.

See, they understand that it's merely a facade.

Dr. Engali's picture

He looks like a slack jaw heifer  that heard McDonald's is having a buy one big mac get one free sale, huffing and puffing to drag his ass there.

Jethro's picture

He looks like he's reliving a scene from Papillon.  I suggest he be sent to Devil's Island and relive the rest of the scenes for the remainder of his life.

tenpanhandle's picture

I'll relieve him of part of that sentence. No, not the part where they're shoving the dinero up their asses; the part where he is living with the island girl.

krispkritter's picture

McDonald's and his shirt makes me he the Scamburglar?

littleguy's picture

Welcome to Britain Sarko. Please bring more money.

azzhatter's picture

He's about 5'2 and even that's a tall stack of shit

Volaille de Bresse's picture

A - GOOD riddance scumbag! You couldn't even cheat on Cécilia without being caught with your pants down... (true story)


B- Ghaddafi gave him 50 mil Euros around 2005-06 so he now needs to move to a country where any kind of money is welcome à la "no questions asked Sir" : ENGLAND!!!

falak pema's picture

No, more like 165 cm.

He is the greatest NWO protagonist that france has produced. I think he wants now to compete with his half brother who works for Carlyle as top manager. Connections are all in crony land of City. 

With his address book he should be able to find the 50 million equity to leverage it to 1 billion on the back of all those banks he helped bail out in Eurozone. 

what follows will be like the towering inferno of fiat vanities. Unless he buys into Arab oil. But that does not require new entrants. The west has to leverage to be in the true rentier club, reserved for the kings of natural resource czars.

Poor Sarko, he always got the short end of the stick, first by god, then by his wife, then by the electors, now maybe by Mamon. 

Imagine having to sip cocktails with London's arab and russian TRUE oligarchs, not leveraged ones, so humiliating...

JR's picture

It’s no longer just the international financial fat cats spinning through the revolving door between the US gpvernment and the banks. It’s the European financial fat cats spinning through the revolving doors of the EU sovereigns and the banks.

It’s not a new world order; it’s new world orders.

"It ought to be stated that the purpose of the law is to prevent injustice from reigning. In fact, it is injustice, instead of justice, that has an existence of its own. Justice is achieved only when injustice is absent." -- Frederic Bastiat, "The Law."

Volaille de Bresse's picture

"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."


Spain is now offering the same package : buy a "concrete turd we've built in 48 hrs" pardon buy a real-estate high-class condo and we offer you a Spanish passport. 


Swell... I wonder how many drug lords from Mexico have bought a concrete turd there...

Grimbert's picture

Yet another Eastern European immigrant

W74's picture

If you're a Londoner you should be thankful that they're not Pakis or Somalis.

Give me half a million Ukranian/Polish/Russian immigrants over here in Baltimore and I guarantee you that civilization would return in a matter of weeks, business would magically be created, the streets would be cleaned up, houses rebuilt and refurbished and crime would....well crime would probably be about the same, but at least it'll look nice.


Glass Seagull's picture



Sarko's got some fucking wheels on him.  Who goes running in a rugby shirt btw (besides Martin Lawrence)?



NotApplicable's picture

You'd think he would've had enough sense to avoid black and white stipes. Sure, prison attire is more blaze orange these days, but hey, I can still remember well enough to make the connection.

Pancho Villa's picture

See Sarakozy. See Sarakozy run. Run, Sarakozy, run!

Son of Loki's picture

Is he up for the next Nobel Peace Prize? I thought with Libyan invasion he wold be a shoe in.

JR's picture

Some have said that Sarkozy is not Jewish, but of course he is. And, now, with his unusual Zionist positions concerning the Israeli-Palestine situation combined with this news, it turns out he’s just another wandering Jew.

alangreedspank's picture

Every rule the shit snakes of pols foist on us, they try to evade. How to tell if it's a bad policy: look at the politicians running away from it.

We have pols running away from public schools and public healthcare here...

skank's picture

Forrest Gump I Ran( So Far Away) Music Video

Piranhanoia's picture

I am betting Sarkozy goes to Sardinia instead,  raises and army and changes his name to Napoleon XIV.  He will begin to mutter "They're coming to take me away, haha".


TheKelt's picture

Patriotism has various forms. It just depends to what you relate it. Sarközy feels like being devoted to his money making attempt is a very convincing one. Well, dynasty patriotism has definitely a bright future.

All for one, one off from here.

Intoxicologist's picture

That's a photo of Sarko?  I thought it was The Hamburglar.

WallowaMountainMan's picture

rehypothication rules!

er, no rules rehypothication rules

AgAu_man's picture

Unlike USCs (US Citizens), he won't have to declared to the French Tax Agency what his earning are, once he leaves the country.  USCs are the only people on the planet who are so frikkin 'free', that they must declare their income for their entire lives, no matter where they live on the planet.

The 'fortune' (?) of being born on a particular piece of land -- the US, in this case -- makes you a lifetime slave to the IRS and their money-grubbing, debt-creating Fed machine.  A machine built on fiat-FRNs.   The world's biggest Ponzi scheme.  A scheme that more and more people are getting wise to.  And slowly but surely doing something about.

AgAu_man's picture

DIRTY LITTLE SECRET:  Very few people know (especially Americans living a 'sheltered life'), is that you can actually "negotiate" your income tax rate with the Brits -- if you are at a certain income level.  Yeah, in order to keep the rich Brits from leaving, and keep attracting deposed but rich Despots, Dictators, Monarch, aristocrats, ex-Politicians, etc, the Brits will make you real 'sweatheart' tax deals.

Nice tax shelters just a few mile offshore in Gurnsey & Jersey isles, while you live the live of Riley in London -- and jetsetting all around the world. As the whole global fiat-money financial system is teetering and unraveling, the rich & shrewd (the "Early Adopters" we call them in the world of consumer electronics) are the first to jump ship.  And its undertow.  If whatever lifeboat looks leaky or too shaky, they jump to another.  

Remember: Money has NO loyalty, except to itself!

Floodmaster's picture

How politicians get so rich? I particularly like the leftist millionaires, what a circus  ...

AgAu_man's picture


Ah, London.  I remember thee well.  With fond and fondable memories.

Mayfair, Belgravia, South Kensignton, and  Sloan Square and its 'Sloan Rangers'.  All places full of beautiful women, rich-by-marriage women.  Always out shopping and at shows.  You were a part of rich mens's toy collections. 

You:  So full of life and so horny, but so neglected.  Me:  A young American grad student, easy on the eyes, dashing, funny and equally horny.  What a time we had, eh?

While your fiances and husbands were 'conquering' the business world and screwing other women, you didn't take getting screwed lying down.  You rose to the challenge and got on top of the situation.  Repeatedly, as I recall.  You handled it well.  And I shall never think of Covent Garden, Kew Gardens or Wimbledon the same way again.   ;-)

I loved the albedo of your libido.  Your color?  A lovely (x,y) = (0.35, 0.25), per CIE 1931 color chart.  In 50 shades.  You made me see the world in a new way, a new 'light'.

Ah London, what a swell time we had.  But that was years ago.

Perhaps Mme. Sarcosy will one day find a friend of her own, like so many in her social class.  I know Monsieur Sarcosy will -- he's French and he's got the Napoleon Complex, so he must conquer!

/You decide if I'm kidding you or not, but trust me, I had a very good time as a grad student there.  Inspiration & Perspiration do wonders for creativity & energy for an academic thesis.  And I intend to send my own sons to London to study, and see the real world./

joego1's picture

Sarko the pig.

Sandmann's picture

Trying to evade arrest in London ? Surely CIA Assets deserve better than exile in London and with the $50 million Ghadaffi gave Sarkozy he could afford to live in Westchester County or Greenwich CT.......maybe he just wants to be near Blair and Cameron