Forbes spent months digging into how and why some of the world’s richest have parked nearly $30 billion of assets in holding companies in the European financial hub half the size of Delaware—here's what we found out:
Forbes
also calculated that Del Vecchio has earned at least $5 billion in dividends from public stocks through Delfin over the past decade, possibly tax-free. Italydividends at a minimum rate of 26% and France at 30%, meaning Del Vecchio could have saved nearly $1 billion in taxes by collecting dividends in Luxembourg and reinvesting them.
Italian billionaire John Elkann owned a 25% stake in Monacair, a Monaco-based private helicopter airline, through a Luxembourg firm he co-owned with three members of Monaco’s royal family., who inherited her late husband Hubert's oil company Perenco after his death in 2006, owns her family’s impressive winery investments through holding companies registered in Luxembourg. Through a trust based in the Caribbean island nation of St.
The billionaire Perrodo family owns the 70-hectare Château Labégorce winery in the Bordeaux region of France, first established in 1332, through a Luxembourg holding company.Other billionaires use Luxembourg more sparingly, establishing holding companies to invest in a luxury hotel or take a small stake in a private company.
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Investigation: How Billionaires Park Vast Wealth In Tiny, Tax-Light LuxembourgForbes spent months digging into how and why some of the world’s richest people have parked nearly $30 billion of assets—from airplanes and helicopters to vineyards and luxury hotels—in holding companies in the European financial hub half the size of Delaware.
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