Millionaire Households: 210,000
Ultra High Net Worth Households: 377
GDP (millions of USD): 2,582,527 (5th highest)
France has the fifth highest GDP in the world and the ninth greatest number of millionaires. Over the last 15 years, a number of major French companies, such as Air France and France Telecom, have become either partly or totally privatized, giving rise to a new class of millionaires, like Stephane Richard, CEO of France Telecom. France has also alienated the wealthy in the past with policies such as the ISF tax, or wealth tax, which was passed in 1989 by Socialist president Francois Mitterand. The tax is an annual tax on French citizens with assets of more than roughly $1.1 million. Many politicians, including President Nicolas Sarkozy, have recently called for reform of the tax, saying that it drives wealthy individuals out of the country.
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