Bernard Arnault and wife to pay nearly €22.5 million extra taxes
Business
Bernard Arnault and his wife, the boss of luxury goods conglomerate LVMH and Europe's richest person, have been told by a Paris court to pay nearly €22.5 million in extra taxes.
The bill covers old taxes and surcharges from 2010, plus France's wealth solidarity tax for 2012-2015.
French authorities contacted Luxembourg and Bahamas
French authorities dug into LVMH's complicated ownership setup, even reaching out to Luxembourg and the Bahamas for help.
Arnault's team says they'll appeal the ruling, but details on their strategy aren't out yet.
For context: Arnault is worth $165 billion and ranks as the world's eighth richest person.