France's richest man Bernard Arnault hit out on Thursday at critics of his ...
PARIS - France’s richest man Bernard Arnault hit out on Thursday at critics of his rush to donate tens of millions of euros to the restoration of Notre-Dame cathedral, saying he would not benefit from tax breaks and branding the sniping as petty.
It followed a 100 million euro offer from Arnault’s arch rival Francois-Henri Pinault, the CEO of Gucci-owner Kering, and sparked a frenzy of donations from some of France’s top companies that pushed the funds raised to close to 1 billion euros. He added the luxury goods company had hit its ceiling on tax breaks after those it received in recent years for building the Louis Vuitton Foundation.
Pinault’s family holding company said on Wednesday it did not intend to seek tax breaks on its donation. Pinault’s wife, actress Salma Hayek, also defended him in a post on Instagram.
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