Key facts
- Billionaire Pierre-Edouard Sterin wants French law changed to disinherit his children.
- Sterin stated he wants to give his entire estate to philanthropic causes.
- Under current French law, three-quarters of his assets must go to his offspring.
- Sterin is the founder of the gift-voucher company Smartbox.
- He testified before the French Senate regarding his political agenda.
French billionaire Pierre-Edouard Sterin, founder of the Smartbox gift-voucher company, is seeking a change in French law to enable him to disinherit his five children. Sterin, who has an estimated net worth of €1.4 billion, expressed his desire to leave his entire estate to philanthropic causes. He stated that under current French law, three-quarters of his assets are legally obligated to be passed down to his offspring. Sterin's advocacy for this legal change comes as he testified before the French Senate concerning his political agenda, which reportedly includes promoting free-market and conservative ideologies.