French billionaire Pierre-Edouard Sterin, founder of the popular Smartbox gift boxes, has reopened the debate on inheritance rights in France after calling for a legal reform that would allow him exclude his five children from his succession and donate his entire fortune to charitable projects.
During a public hearing held before the French Senate, Pierre-Edouard Sterin defended the need to make the succession rules in force in the country more flexible. “I would like to donate my entire assets to philanthropic causes“said the businessman, who appeared by videoconference before a commission in charge of investigating private financing and its influence on public policies.
As he explained, French law currently requires him to reserve three-quarters of his assets for his descendants, a provision that limits his willingness to freely decide the fate of his assets. “I am in favor of each person being able to do what they want with their assets.“, held.
At 52 years old, Pierre-Edouard Sterin resides in Belgium, where he moved his tax residence, a decision that has also generated criticism in France. His figure has been surrounded by controversy due to the financial support he provides to different political organizations and projects with a conservative orientation and, in some cases, linked to positions defended by the French extreme right. During his appearance, the businessman acknowledged that he aspires to contribute to France moving towards a more socially conservative and more liberal economic model. In addition, He defined himself as a person located on the most conservative wing of the French political spectrum.
In immigration matters, Pierre-Edouard Sterin claimed to maintain positions even tougher than those defended by National Rally, the party led by Marine Le Pen and Jordan Bardella, currently one of the main actors in French politics facing the next presidential elections. Among other measures, He was in favor of the expulsion of foreigners who have committed crimes, are in an irregular situation or remain unemployed for more than a year. Although he avoided speaking out on some of his most controversial positions, such as his opposition to abortion, his statements have once again placed him at the center of the French political debate.
According to the billionaire index Bloomberg, Pierre-Edouard Sterin’s fortune amounts to about 1.4 billion euros, a wealth built mainly through his investments managed by Otium Capital, the company that manages the family assets. His proposal to modify inheritance laws now opens a new front of discussion on the limits of testamentary freedom and the role of inheritance in French society.
