The marriage of money and politics.. How a French billionaire uses his companies to support the ultra-right

French newspaper Liberation has published a lengthy investigation into French billionaire Pierre-Edouard Stérin using his economic group in a “cultural war” in France aimed at supporting the far-right and its ideological agenda in media, education and culture.

The newspaper observed the peak of activity of this financial and political machine at the end of last June in one of the historic art exhibition halls in the center of Paris, the French capital, during the first edition of the “Freedom Summit”, sponsored by Pierre-Edouard Strain and the media and economic magnate Vincent Bollor, and described them as people committed to the extreme victory of France.

Hundreds of people came to attend what the newspaper called a “new political wedding” sponsored by Bollor’s media group and a Styrin-funded political project known as “Pericles” (short for Patriots, Radicals, Resistors, Identists, Christians, Liberals, Europeans, Sovereigns).

Among the stars of this “wedding” were prominent figures of the French extreme right, including Eric Chiot, the former head of the “Republicans” party, the head of the National Rally party (extreme right) Jordan Bardella, the parliamentarian Sarah Knafo, Marion Maréchal and Stanislas Rigaud, who was a prominent member of the right-wing campaign of Epilium Ammour. An “investment fund” linked to Styren, managed by Marine Le Pen’s personal adviser Francois Durfi.

The purpose of this “summit” was to promote the rich extreme right under the slogan of “conservative liberalism”, reduced to “freedom of thought”, in the sense that those present at this ceremony agreed, which means the rule of law and hostility towards a number of minorities.

For many years, the “nationalist” Sterin, who chose tax exile in Belgium and amassed a huge fortune thanks to Smart Box gift funds, has allocated part of his money to finance various projects that support his vision of the world.

Sterin funds the Pericles project, which is an acronym for Patriots, Radicals, Resistance, Identists, Christians, Liberals, Europeans, Sovereigns.

According to the Liberation newspaper, these financing instruments were represented by his private Belgian holding BAD21, whose shares amount to 365 million euros, in addition to Otium, an investment fund with assets estimated at about 1.2 billion and active in the fields of health, entertainment and finance.

Stern is under investigation for illegal financing of candidates for the National Rally party, founded by Jean-Marie Le Pen in 1972, but the man does his best to present himself as a simple businessman concerned about the future of his country. The newspaper Le Figaro described him a few months ago as “a man from a good Catholic family, closer to a spy than a Malian mobster.”

Liberation sampled Otium Group affiliates active in finance (Pivit Company), healthcare (Apni) or clothing (Cheng) and wondered how these companies support political agendas and figures led by Marine Le Pen, former president of National Action.

Liberation asked if clients of Sterin’s companies know that they are in one way or another supporting far-right ideas, and said he is confident that Sterin is making profits and achieving financial benefits that allow him to continue funding his political efforts.

The newspaper focused on the cultural arms of the Otium group and its role in the Yemeni agenda, including Prosper, a development company that sells prefabricated houses and is headed by Francois Durfe, who is the director of Otium.

The journalist says Durfee played a key role in Marine Le Pen’s 2022 presidential campaign, hosting her at a Normandy palace in preparation for one of the televised debates and trying to “reinvent” the far-right candidate.

Stern’s economic group includes the video platform Neo, a “social media for intimacy” that has 473,000 followers on Instagram and convincingly caters to identity ideology from a right-wing perspective. In the educational and family sphere, the group’s branches work to support motherhood and family values ​​from a Christian and ethnic perspective.

To achieve his far-reaching political goals, Sterin turned to philanthropy and in 2021 founded a charitable foundation that selectively donates to associations belonging to Catholic circles, including the Defense Solidarity Association, headed by former minister Jean-Marie Boeckel.