A French billionaire made his first appearance before lawmakers Thursday to outline his mission of advancing conservative and free-market principles in French politics, with the country’s presidential election approaching next year.
Pierre-Edouard Sterin, an entrepreneur who moved to Belgium to avoid French taxes, testified before senators as part of an investigation into political financing practices and whether his organizations comply with applicable rules.
“Our aim is to spread free-market, conservative ideas as widely as possible,” Sterin explained to the senators, characterizing his activities as “meta-political.”
“We hope it will, in the coming months and years, bring free-market, conservative right‑wing ideas to power in France,” he added.
The 52-year-old businessman, who had previously refused to respond to parliamentary requests to appear, rejected any suggestion of improper conduct. “There is no ongoing legal procedure, no investigation, no breach of the law,” he stated during his testimony.
Operating through an organization called Pericles, Sterin has remained largely unknown to the French public until recent years while funding various projects aligned with his political vision. Documents that appeared in the French publication L’Humanite in 2024 and later verified by Sterin revealed his objectives include combating “socialism, wokism, Islamism, immigration.”
The political influence of his network has grown, with Pericles co-founder Francois Durvye now serving as a special adviser to far-right leader Jordan Bardella, who current polling suggests leads the field for next year’s presidential race.
During his Senate testimony, Sterin, a practicing Catholic and father of five who resides in Belgium, stood by controversial immigration positions that have drawn criticism.
“I am in favour of the re-migration of foreign criminals, undocumented migrants or those unemployed for more than 12 months,” he declared, noting these views put him “to the right of the (French) far right.”
The businessman built his wealth through Smartbox, a company specializing in gift vouchers, and describes himself as a “tax exile of the François Hollande generation.”
His reference pointed to France’s Socialist leader who served as president from 2012 to 2017 and proposed implementing a 75% tax rate on millionaires. Sterin relocated to Belgium in 2012, and despite the constitutional council quickly rejecting the tax proposal, he chose not to return to France.
“Hollande doesn’t like the rich, and I don’t like the social‑communists,” Sterin remarked.
He told senators that his residence outside France has enabled him to reduce his tax burden by €100,000 to €200,000 annually, allowing him to direct larger amounts toward charitable projects within France.
