The reopening of Notre-Dame is the result of one of the largest fundraisers in history. Here’s everything you need to know.
The reopening of Notre-Dame de Paris Cathedral is also the result of unprecedented fundraising. On the night of April 15 to 16, 2019, while the cathedral was still burning, the first calls were made. This project is a story of big money. Very big money, even, which began to flow in when we did not yet know whether Notre Dame would overcome the catastrophe. In total, there were more than 350,000 donors for 843 million euros collected. Without doubt the largest sponsorship operation ever organized.
600 of the 843 million contributed by billionaires
And who says patronage, says wealthy donors. Of the 843 million, 600 were provided by four donors. Around 10:30 p.m. that evening, billionaire François Pinault made a decision: he would give 100 million euros. The press release goes out overnight. Relaunch from Bernard Arnault who promises 200 million euros. The two French billionaires have just launched a formidable donor race: Total Energies gives 100 million euros, the L’Oréal group and the Bettencourt family 200 million… JC Decaux, BNP Paribas, Bouygues, Axa: that’s it the CAC 40 which is quickly getting started.
What the world knows about the giants of luxury and capitalism can be found at the bedside of the cathedral. Very quickly, we ask the question of the intention of these patrons. We could suspect these rich donors of having a publicity stunt, or even of wanting to avoid taxes. We put out this fire quickly. “There is no question of putting the burden on French taxpayers,” says Pinault. The same goes for LVMH and the Arnault family.
A benefit for these XXL contributors however. Some were able to visit the construction site. You have to imagine these billionaires in suits, helmets and safety equipment.
Explain to us by Matthieu Belliard: Notre-Dame, an unprecedented fundraiser – 06/12
300,000 contributors under 1,000 euros
But this operation to save the monument is not limited to the Pinault and Arnault families. Far from it. Money comes from everywhere, donation collection structures are set up. Never seen before. Payment terminals have been installed in train and metro stations. 300,000 contributors under 1,000 euros. The vast majority of donors in fact. And there, for once, a tax incentive. Until 2025, and up to 1,000 euros, donations are 75% tax-free. Not to mention in-kind donations and skill-based sponsorship. SMEs, craftsmen for example who have put their know-how to good use. The Court of Auditors values this aid at 5 million euros.
The whole world rushed to the aid of Notre-Dame. And we must be interested in the presence of Donald Trump this weekend. It is also because we owe a lot to the Americans because, alongside the CAC 40, Wall Street has mobilized.
70 million euros from the USA
From April 15, 2019, Americans were moved, as images of the cathedral in flames played in a loop on TV. In total, 65,000 donations came from the United States: 70 million dollars in total. Why such support from the Americans? The memory of 250 years of friendship, a resonance with the French support of September 11, 2001 or even June 6, 1944. A donor says that his grandfather was parachuted into Sainte-Mère-Eglise.
And finally, it’s quite unexpected: there’s money left! A 700 million euro project is being inaugurated this weekend. Do the subtraction, there’s something extra. 140 million surplus. Money that will be used after reopening. There are still restorations, and in fact the collection is not even finished.
Matthieu Belliard (edited by JA)
