As France welcomes their new socialist leader to office, France's wealthy are looking to move. From Bloomberg Business Week:
Jeremie Le Febvre, the 30-year-old founder of private equity marketing-services firm TBG Capital Advisors, plans to move to Singapore from Paris this year.
Not because of President-elect Francois Hollande’s pledge to boost taxes; rather for what Hollande’s victory says about how wealth is viewed in France, the entrepreneur said.
“What’s really driving my departure is the fact that I don’t share the values that emerged during the election, the rejection of ambition and success,” he said in an interview. “It’s part of France’s difficult relationship with money, but it has reached a new level. Even if it’s utopian, I need to believe for me and my descendants that the sky is the limit.”
London's Mayor, properly, seems eager to welcome him!
On the other side of the Channel, Conservative London Mayor Johnson laid out the welcome carpet.
“This is the global capital of finance,” he said. “It’s on your doorstep and if your own president does not want the jobs, the opportunities and the economic growth that you generate, we do.”
With our struggling economy, America could certainly use these business owners. Too bad American immigration policies are as awful as France's economic policies.