France’s richest man, billionaire Bernard Arnault, has come under fire from all quarters for his controversial decision to apply for Belgian nationality.

The decision by 63-year-old head of the Louis Vuitton, Moët and Hennessy (LVMH) luxury goods empire to seek Belgian citizenship, has been seen by some as a first step to his future financial exile from France. It is an accusation Arnault has strongly denied.