Bernard Arnault is set to receive one of Britain’s highest honorary titles only weeks after the billionaire’s decision to apply for Belgian citizenship sparked criticism in France.
The Wall Street Journal reports that the Chairman and CEO of LVMH has been handpicked to receive a KBE, or Knight Commander of the Most Excellent Order of the British Empire, for “services to business and the wider community in the U.K.”
The British Foreign and Commonwealth Office confirmed recently that Queen Elizabeth II had approved the award.
Monsieur Arnault has received similar recognition in France. Last year, under former conservative Nicolas Sarkozy, he was appointed Grand Officer of the Legion of Honor, one of the country’s highest distinctions.
France’s richest man has come under fire recently for his decision to seek Belgian citizenship, after it was revealed that President Francois Hollande was putting the finishing touches on a 75 per cent tax targeting the country’s highest earners.
Mr Arnault has stressed that he intends to continue paying taxes in France – saying the motives for his application for dual nationality were personal.
By Cassandra Murnieks
Image credit: guardian.co.uk
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