France’s Wealthiest People Gain Fortunes at Fastest Pace in World

Francois Pinault. (AFP)
Francois Pinault. (AFP)
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France’s Wealthiest People Gain Fortunes at Fastest Pace in World

Francois Pinault. (AFP)
Francois Pinault. (AFP)

The fortunes of the wealthiest names in France have seen a swift peak in the first half of the year, more than any other country in the world.

According to Bloomberg, 14 people from France on the 500-member Bloomberg Billionaires Index added a combined $78 billion to their collective net worth since December 31, a 35 percent increase.

The agency reported that this is more than the wealth growth pace in other countries, as the fortune of China's richest increased by 17 percent, and the US's 15 percent.

The best returns outside of France came mostly from Asia as Thailand's wealthiest were a close second at 33 percent, followed by Singapore's 31 percent and 24 percent for Japan.

The figures exclude countries with fewer than two billionaires in the ranking. That makes Aliko Dangote, the sole Nigerian on the list, an outlier. His wealth has surged 60 percent to $16.8 billion this year, the German news agency reported.

Luxury titans Bernard Arnault and Francois Pinault and L'Oreal's heir Francoise Bettencourt Meyers led the way for France, adding a combined $53 billion during the same period.

Bloomberg reported that the demand for luxury goods from China has proven resilient despite uncertainty caused by that country's trade dispute with the US.



Riyadh Metro Opens Its Doors to the Public Sunday

This comes following the inauguration by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on November 27, 2024 - SPA
This comes following the inauguration by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on November 27, 2024 - SPA
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Riyadh Metro Opens Its Doors to the Public Sunday

This comes following the inauguration by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on November 27, 2024 - SPA
This comes following the inauguration by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on November 27, 2024 - SPA

Riyadh Metro, operated by the Royal Commission for Riyadh City (RCRC), opened its doors to passengers on Sunday.
The metro is now serving commuters on three of its six lines: the Blue Line (Al-Olaya-Al Batha), the Yellow Line (King Khalid International Airport Road), and the Purple Line (Abdulrahman bin Aauf Street–Sheikh Hassan bin Hussain bin Ali Road).
The remaining three lines will follow a sequential operation plan. The Red Line (King Abdullah Road) and the Green Line (King Abdulaziz Road) will start on December 15, 2024, while the Orange Line (Madinah Road) will start being operational on January 5, 2025.
According to SPA, stations on the Blue Line, Al-Olaya-Al Batha, will open to passengers before the end of 2024.

These stations include Ministry of Interior, Qasr Al-Hukm, Sulaiman Al Habib, Al Murooj, Murabba, Wurud 2, Bank Albilad, King Fahd District, King Fahd Library, National Museum, Al Batha, and Al-Aziziyah.
An Naseem Station on the Purple Line, along Abdulrahman bin Aauf Street–Sheikh Hassan bin Hussain bin Ali Road will open during the same timeframe.
Passengers can specify their destinations and buy tickets using the "darb" mobile app or directly from vending machines at the stations.