Word: riche
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Until recently, France's iconic museum wouldn't have dreamed of rolling out the red carpet for international partygoers, however rich, let alone - quelle horreur! - allowing food and drink to be served in a gallery containing valuable artworks. Indeed, Cason Thrash's party was the first time that rule was broken. Fund raisers may be standard practice at American museums, but no American museum has a history as storied as that of the Louvre. It started life in the 12th century as an imposing fortress, then became a royal palace that was home for centuries to kings and their burgeoning...
...times are changing, state funds are tight and the Louvre has an ambitious director named Henri Loyrette, who has given himself the mission of pulling the venerable institution into a new era. Tapping rich people around the globe for funding is just one of the changes Loyrette has brought about since he took over as director in 2001. Armed with a vision of the Louvre as a beacon of culture that is both accessible and global, he has set in motion a dramatic opening up to the outside world. So far, that includes signing a controversial deal to create...
Ultimately, this may be the big difference that Loyrette makes: for the first time in ages, the Louvre is feeling rich and motivated. Its fund-raising activities are already more aggressive than ever, but Loyrette is constantly looking to expand them. He persuaded Christopher Forbes, of the wealthy U.S. publishing family, to start up the American Friends of the Louvre at a time when France and the U.S. were sparring over Iraq. The organization has taken off and has just given birth to the International Friends of the Louvre. Among the guests at the June gala were the billionaire Mexican...
...global sport of tax evasion has its moments of intrigue, but it's usually well worth playing, as trillions of dollars in assets find their way to Caribbean shores and Alpine enclaves, safely hidden from the world's tax authorities by no-tell bankers. Or so many ultra-rich Americans have long assumed...
...Senate, experts estimate that the total loss to the Treasury from offshore tax evasion could be as high as $100 billion a year, including $40 billion to $70 billion from individuals and some $30 billion from corporations. Of course, there are legitimate reasons to have offshore accounts. "The super-rich aren't born into the category of being tax evaders," points out John Christensen of the Tax Justice Network. In the coming months, however, we're likely to find out a lot more about the ones who learned...