France's Richest Man Leaves County to Avoid France's High Taxes

First, it was famous French actor Gerard Depardieu who announced he would be leaving his home country for the lower taxes offered by neighboring Belgium. 

Now, Bernard Arnault, head of luxury goods group LVMH, and France's wealthiest man, has moved billions in assets to Belgium for "family inheritance reasons".  However, others believe it is because he too is trying to avoid the 75% top rate introduced by Socialist President Hollande. 

It appears that American actor, Will Smith's initial reaction (some would say shriek) to the announced 75% rate was spot on.