President-elect of France Francois Hollande speaks to supporters as he leaves the Socialist Party headquarters on May 7, 2012 in Paris, France. Socialist Francois Hollande defeated incumbent president and UMP candidate Nicolas Sarkozy, with just under 52% of the vote in the second and final round of the French Presidential elections. He will be the country's first Socialist president in 17 years.

President-elect ... Francois Hollande. Photo: Getty Images

FRANCOIS HOLLANDE, the French Socialist President-elect who once declared ''I don't like the rich'', has assets of about $1.5 million, including three Riviera properties, it has emerged.

The self-styled ''Mr Normal'' who has promised to ''soak'' the rich and ''dominate'' finance owns a mansion in the chic village of Mougins, where Pablo Picasso used to live, and has a stake in two flats in Cannes.

The assets of Mr Hollande have been published in the Official Journal, which contains verified information about the government.

With a total value of €1.17 million ($1.51 million), they fell just short of making him eligible to pay wealth tax - applicable if one's assets are worth more than €1.3 million. But they were sufficiently high to be potentially embarrassing for a man who attacked his rival, Nicolas Sarkozy, for defending ''indecent wealth''.

They could reinforce right-wing accusations that, far from slumming it, he belongs to the ''gauche caviar'', or champagne socialism, school of politics.

Among the first measures Mr Hollande says he will implement is a 30 per cent cut in the presidential salary of more than €19,000 a month.

Telegraph, London