Protest over yacht tax
The week's news at a glance.
Sardinia, Italy
Billionaires are rebelling against a new fee for using Sardinian ports. The governor of Sardinia slapped a charge of nearly $20,000 per year to dock large yachts at the Italian island, and the rich are furious. Flavio Briatore, a playboy who manages a Formula One race-car team, hosted a Champagne-fueled party at the Billionaire nightclub, which he also owns, urging fellow yachtsmen to join him in boycotting the island. Briatore also took out several full-page newspaper ads, proclaiming that “entrepreneurs and tourists invest in places where they are welcomed with open arms, not a closed fist.”
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