Hollande owns 3 houses in Riviera resort of Cannes

New French President Francois Hollande, who wants to revolutionise his country with high taxes, is in fact hugely wealthy himself.

London: New French President Francois Hollande has three houses in the French Riviera, despite claiming that he “dislikes the rich”.

The 57-year-old, who wants to revolutionise his country with high taxes and an onslaught against bankers, is in fact hugely wealthy himself, the Daily Mail reported.

His assets were published today in the Official Journal, the gazette which contains verified information about France’s government.

To the undoubted embarrassment to the most left-wing leader in Europe and a man who styles himself as “Mr Normal”, they are valued at almost GBP 1 million.

It will also reinforce accusations that Hollande is a “Gauche Caviar”, or “Left-Wing Caviar” - the Gallic equivalent of a Champagne Socialist.

Among other assets are three current accounts in French banks - two with global giant Societe Generale and one with the Postal Bank - and a life insurance policy.

But it is the fabulous property portfolio which is causing the greatest stir among millions of ordinary French people who voted for Holland over the conservative Nicolas Sarkozy last Sunday.

Hollande regularly attacked the “Bling-Bling” presidency of Sarkozy, whose multi-millionaire lifestyle with Italian-born heiress Carla Bruni contributed to his humiliating election defeat after just one term in office.

As well as the spacious Paris apartment he shares with his lover Valerie Trierweiler, Hollande owns a palatial villa in Mougins, the prestigious hill-top Cannes suburb where the artist Pablo Picasso used to live.

It is valued by the Official Journal at EUR 800,000 and is just a short drive from Hollande’s two flats in the Cannes. They are each priced at EUR 230,000 and EUR 140,000.

Hollande has promised to cut his pay by 30 percent after he is officially sworn in as President next week, but he will still be on EUR 156,000-a-year, plus fabulous expenses and other perks.

He intends to set a top tax rate of 75 percent, and to increase France’s controversial wealth tax - moves which have already seen wealthy people threatening to leave the country, and move abroad to places like the UK.


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