Tara Patel

French billionaire Pierre-Edouard Sterin, who has stirred controversy over his right-wing politics, is pleading with lawmakers to modify rules so he can disinherit his five children, saying he prefers to give his fortune to charity.

Paris | French billionaire Pierre-Edouard Sterin, who has stirred controversy over his right-wing politics, is pleading with lawmakers to modify

Wealthy business owners are setting up trusts to shape the future of their empires after they die, leading to bitter court battles.

Monaco is investigating a €9.4 million ($11 million) deal by the grandson of billionaire Viktor Rashnikov to buy a luxury apartment in the weeks after the Russian steel tycoon was sanctioned over the invasion of Ukraine.

One of the billionaire heirs behind French drugmaker Ipsen SA has left his $4 billion fortune to a Luxembourg charity and an offshore trust, clouding the outlook for the company’s long-term control and ownership.

France’s wealthiest citizens are increasingly turning away from investing in their own country and are thinking about leaving as worries over tax policy cloud their outlook, according to a survey of family offices.

A bruising battle over operational control within the billionaire Castel family’s drinks empire is intensifying after the two heirs at the center of the conflict were removed from the board of the historic wine business based near Bordeaux.

CMA CGM SA, the world’s third-largest container line, said a surge in Chinese shipments is boosting earnings as US companies pad inventories while President Donald Trump rebuilds a tariff strategy dealt a setback in February by the Supreme Court.

CMA CGM reported higher second-quarter sales and profit as a rise in freight volumes offset new shipping capacity coming into the market and higher costs related to the war in the Middle East that has led to disruptions through the key Strait of Hormuz.

Billionaire Bernard Arnault has appointed a new head of his closely held investment vehicle Financiere Agache, choosing an insider at a time when he’s struggling to turn around his luxury empire and facing greater scrutiny over succession.