Skip to content

French Billionaire Drawn Into Political Storm as Shipping Wealth Soars

Updated on

Course 105.3 degrees, speed 9.7 knots: The cargo giant Jules Verne steams toward the Port of Los Angeles en route from China. It's yet another lucrative run for French billionaire Rodolphe Saade.

Less than a decade ago, with the shipping industry in the doldrums, thousands had anxiously looked on as the Jules Verne — at the time, the largest container ship in the world — was inaugurated on the Mediterranean by none other than the president of France.