According to the French statistical agency Insee, in France, the top 10% own almost 80% of the total wealth. What is the difference between the wallets of the poor and the rich French? Is everything so bad?
How tells BB.LV, the only nuclear power in the European Union, firmly holds the leading position in terms of the number of billionaires and the homeless. The two “titans” of French business are the world’s richest man and woman: Bernard Arnault, head of the LVMH empire, and Françoise Bettencourt-Meyers of L’Oréal. Their combined capital, according to Forbes, is almost $300 billion.
The 74-year-old Arno’s empire spans 75 brands, including Louis Vuitton, Guerlain, Chaumet, Tiffany, Christian Dior, Sephora and more. He has confidently outpaced the American tech titans with a net worth estimated at $211 billion (as of March 10). Betancourt-Meyers, 69, topped the Forbes list of the richest women in the world for three years in a row. Her net worth is estimated at $80.5 billion.
However, not everything is so bad for the French poor. They have privileges even in banks – the interest rates on deposits of the French poor are special, increased. While for all French citizens the maximum rate of return on deposits is 3%, the poor can open a deposit at 6% per annum.
At the same time, every member of a poor household over the age of 18 has the right to open such a deposit – Livret d’épargne populaire. From August 1, the maximum deposit amount is 10,000 euros (previously 7,700). Income from this deposit is not taxed, it can be replenished and withdrawn from it.
Poor French have a large number of privileges compared to those with incomes above the established minimum. And this is one of the reasons why people do not strive to earn more: why bother if you can lose benefits and privileges as a result?
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