Billionaire Patrick Drahi Hit with $7.5 Billion Tax Bill in Switzerland

In Switzerland, Patrick Drahi is facing tax arrears of 7.4 billion Swiss francs, or nearly 7.5 billion euros, reports Heidi.news, which conducted investigations based on internal documents from the billionaire’s holding company, posted online this summer by a criminal group following a hack and a ransom demand.

The tax administration of the canton of Geneva is said to have made a tax reassessment proposal to Patrick Drahi: 3.7 billion Swiss francs in tax arrears, plus an equivalent amount in penalties. For now, the businessman’s entourage has not confirmed the information. He categorically denies having received any tax penalty in Switzerland. But documents showing that his lawyers had contested the tax reassessment before an administrative court prove the contrary.