Nicolas Sarkozy to Go Work for Qatar

A blog about business and economics.
March 29 2013 4:29 PM

Revolving Door, France Edition: Nicolas Sarkozy to Go Work for Qatar

164776076
Former French president Nicolas Sarkozy gestures prior to a meeting on March 27, 2013 at the EU Headquarters in Brussels.

Photo by GEORGES GOBET/AFP/Getty Images

Lurking behind the paywall, Anne-Sylvaine Chassany and Camilla Hall have a great piece about Nicolas Sarkozy's post-election plans to get rich. The basic element of the plan is that the Emirate of Qatar is going to give him €3 million a year.

Sadly, however, in the world of politics you need a more complicated structure to these things. So what's actually going to happen is that the Emirate of Qatar is going to have its state-controlled sovereign wealth fund back a private equity firm called Columbia Investments that "would have an office in London in which the former president would visit one or two days a week, according to a person familiar with the matter." The investment will be worth €250 million and as the authors note "[b]ased on the typical 1.5 per cent fees levied by private equity groups for managing €250m, the former president and his investment team would stand to gain more than €3m annually." What will the firm be doing? The plan is to "invest in 'European reconstruction' – companies in continental Europe, with a particular emphasis on Spain."

If it actually works out for Qatar, in other words, the idea would be that Sarkozy has some kind of lucrative connections with the center-right government currently ruling Spain. He could, for example, point out that a politician presiding over recession and an unpopular austerity program needs to make plans for his post-political life. Perhaps Mariano Rajoy and his ministers would enjoy doing something in the private equity world, perhaps assisting wealthy Gulf sovereigns to navigate European investment opportunities.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

TODAY IN SLATE

Sports Nut

Grandmaster Clash

One of the most amazing feats in chess history just happened, and no one noticed.

The Extraordinary Amicus Brief That Attempts to Explain the Wu-Tang Clan to the Supreme Court Justices

Amazon Is Officially a Gadget Company. Here Are Its Six New Devices.

How Much Should You Loathe NFL Commissioner Roger Goodell?

Here are the facts.

Amazon Is Officially a Gadget Company

Science

The Human Need to Find Connections in Everything

It’s the source of creativity and delusions. It can harm us more than it helps us.

Food

How to Order Chinese Food

First, stop thinking of it as “Chinese food.”

Scotland Is Inspiring Secessionists Across America

You Shouldn’t Spank Anyone but Your Consensual Sex Partner

Moneybox
Sept. 17 2014 5:10 PM The Most Awkward Scenario in Which a Man Can Hold a Door for a Woman
  News & Politics
Jurisprudence
Sept. 18 2014 10:42 AM Scalia’s Liberal Streak The conservative justice’s most brilliant—and surprisingly progressive—moments on the bench.
  Business
Business Insider
Sept. 17 2014 1:36 PM Nate Silver Versus Princeton Professor: Who Has the Right Models?
  Life
Outward
Sept. 18 2014 11:25 AM Gays on TV: From National Freakout to Modern Family Fun
  Double X
The XX Factor
Sept. 18 2014 12:03 PM The NFL Opines on “the Role of the Female”
  Slate Plus
Slate Fare
Sept. 17 2014 9:37 AM Is Slate Too Liberal?  A members-only open thread.
  Arts
Brow Beat
Sept. 18 2014 11:48 AM Watch the Hilarious First Sketch From Season 4 of Key & Peele
  Technology
Future Tense
Sept. 18 2014 10:07 AM “The Day It All Ended” A short story from Hieroglyph, a new science fiction anthology.
  Health & Science
Bad Astronomy
Sept. 18 2014 7:30 AM Red and Green Ghosts Haunt the Stormy Night
  Sports
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.