Why LVMH Has Parked Billions in Belgium

Low taxes on a lot of money

Bernard Arnault arrives at the Hermitage hotel to attend the ceremony of the Royal Wedding of Prince Albert II of Monaco to Charlene Wittstock in Monaco.Photograph by Marc Piasecki/Getty Images

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Carol Matlack

September 14, 2012 at 10:27 PM UTC

This article is for subscribers only.

There are new twists to the Belgian saga of LVMH Chairman Bernard Arnault.

Investment vehicles associated with French luxury group LVMH Moet Hennessy Louis Vuitton have amassed assets totaling €4 billion ($5.2 billion) in neighboring Belgium, where Arnault, LVMH’s principal shareholder as well as its chairman, recently applied for citizenship.