Introduction to the Investigation
On May 20, a hearing in front of a parliamentary investigation committee was expected to shed light on what the committee referred to as the "direct ecosystem of political conquest". However, the hearing did not proceed as planned because Pierre-Edouard Sterin, a French billionaire, did not appear before the National Assembly.
Background of the Investigation
The French legislators had intended to question Sterin, the founder of Smartbox, a company that sells experience gifts, about his Pericles project. Through this project, Sterin invested around 30 million euros (34.24 million US dollars) in initiatives promoting conservative values. The President of the Committee, Thomas Czenave, stated that Sterin had initially expressed a desire to testify via video connection, citing security reasons.
Dispute Over Testimony
Czenave replied that suitable measures had been taken to protect Sterin, just like for legislators who regularly receive threats. Czenave expressed regret over Sterin’s "stalling tactics". The absence of Sterin means that the committee cannot verify whether Pericles respects the rules for French campaigns. The general director of the Pericles project, Arnaud Rerolle, had appeared for a hearing a week earlier and stated that France’s economic, social, and moral situation was in a bad state.
Pericles Project Initiatives
Rerolle described Pericles as an incubator for metapolitic projects. So far, they have financed less than 15% of the 600 applications received. Among the initiatives supported by Pericles are the right-wing extremist magazine L’Ical and the Decolonialism Observatory, which targets what it refers to as "Woke Obscurantism". This term is used to decipher left ideologies, often focusing on minority identity policies.
Influence of Billionaires on French Politics
Sterin is not the only billionaire attempting to influence French political opinion to the right, particularly the National Rally by Marine Le Pen. The concentration of media ownership in France has far-reaching consequences, with 80% of printed daily generalists owned by 11 billionaires, whose televisions and radio stations reach more than half of the country’s audience.
Concerns Over Democracy
Pierre-Yves Cadalen, a legislator for the far-left party France and Vice President of the Committee, calls Rerolle’s explanation "wishy-washy". Cadalen believes that Vincent Bollore, the majority shareholder of the Logistics and Communication Group Bollore, exercises significant influence through his media conglomerate. This includes TV channel CNews, radio station Europe 1, and the Weekly JDD, as well as polling institute CSA.
Impact on Journalists and Researchers
The concentration of media ownership in France has led to self-censorship among journalists, who fear reporting on these billionaires because they do not want to "come to the wrong side of a potential future employer". Researchers and the cultural sector have also become quiet, with many afraid to comment against the Bollore empire.
French Legislators Seek Countermeasures
However, not all entrepreneurs support the extreme right. Herve Joly, a historian, notes that most company managers do not openly support the National Rally. To prevent the extreme right from gaining power, the LFI legislator Pierre-Yves Cadalen proposes "new regulations against market concentration" in French media. Ensemble! legislator Eleonore Caroit believes that existing laws can be used to fight projects like Pericles.
Conclusion
The absence of Pierre-Edouard Sterin from the hearing has significant implications, with Sterin now risking two years in prison and a fine of up to €7,500. The investigation highlights the complex relationship between billionaires and politics in France, with concerns over the influence of wealthy individuals on democracy and the concentration of media ownership.
