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Luxurious lifestyle and tax optimization: when a computer hack reveals the little secrets of Patrick Drahi, the CEO of Altice
Luxurious lifestyle and tax optimization: when a computer hack reveals the little secrets of Patrick Drahi, the CEO of Altice
(ADDITIONAL INVESTIGATION / FRANCE 2)
When Russian hackers seized tens of thousands of Patrick Drahi’s data by hacking the Altice group server, some of the billionaire’s secrets came to light. Extract from a portrait published in “Complément d’investigation” on June 20, 2024.
In the ultra-rich paradise of Nevis, a Caribbean island where he owns a villa, he had plans to extend the airport landing strip for his private jet… The anecdote caused a stir, even if Patrick Drahi has never flaunted his lifestyle. It was a major computer hack that revealed it, as well as certain other secrets of the billionaire.
On August 9, 2022, the Altice group’s staff discovered this message: “We have infiltrated your computer network (…). Your personal data, financial reports and important documents are ready to be disclosed. Do not call the police or the FBI.” These are Russian hackers who stole hundreds of thousands of confidential documents from the group’s server. Among them, emails, invoices, contracts, relating to Patrick Drahi’s business, but also to his private life.
The pirates demand a ransom of 5 and a half million dollars, while saying they are ready to study a “correct offer” (this is what we can read in an exchange with the Altice group that “Further investigation” was able to consult). Patrick Drahi refuses to pay. The hackers then publish data on the internet which describes tax optimization schemes for the benefit of the billionaire.
“Clearly, there are people on his staff who do just that – that is to say, look for the most tax-advantaged countries – explains the journalist Antoine Champagne, the first in France to have used these documents.
“It’s a giant Monopoly on a planetary scale. There are no borders with Patrick Drahi.”
Antoine Champagne, editor-in-chief of the Reflets info site,in “Additional investigation”
For example, here is how Patrick Drahi would have proceeded with his works of art. The documents reveal that he has an exceptional collection of paintings by Magritte, Picasso, Dali, Fernand Léger… Dozens of paintings to which he offered a new home when taxation became tougher in Luxembourg, where was domiciled the company that held them… It will be a Caribbean island practically exempt from taxes.
When they are transferred to a new company, the value of certain paintings is reduced to further save on tax, as revealed by certain email exchanges within its staff. We see a Picasso painting go from 27 to 24 million euros…
Extract from “Patrick Drahi, the man who owed 50 billion”, a document published in “Complément d’investigation” on June 20, 2024.