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.



King Fahd Medical City, Boston Oncology Sign MoU for Localization of Gene and Target Cell Therapy

The MoU was signed by King Fahd Medical City Chief Executive Officer Dr. Fahad AlGhofaili and Boston Oncology Chief Executive Director Dr. Abdullah Bajaaj. SPA
The MoU was signed by King Fahd Medical City Chief Executive Officer Dr. Fahad AlGhofaili and Boston Oncology Chief Executive Director Dr. Abdullah Bajaaj. SPA
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King Fahd Medical City, Boston Oncology Sign MoU for Localization of Gene and Target Cell Therapy

The MoU was signed by King Fahd Medical City Chief Executive Officer Dr. Fahad AlGhofaili and Boston Oncology Chief Executive Director Dr. Abdullah Bajaaj. SPA
The MoU was signed by King Fahd Medical City Chief Executive Officer Dr. Fahad AlGhofaili and Boston Oncology Chief Executive Director Dr. Abdullah Bajaaj. SPA

Saudi Arabia’s King Fahd Medical City and Boston Oncology have signed a Memorandum of Understanding (MoU) for a project to localize gene and target cell therapy.

The project will be held at King Fahd Medical City, one of the components of the Riyadh Second Health Cluster, the Saudi Press Agency (SPA) reported Monday.
The MoU was signed by King Fahd Medical City Chief Executive Officer Dr. Fahad AlGhofaili and Boston Oncology Chief Executive Director Dr. Abdullah Bajaaj.

The Saudi Deputy Minister for Planning and Development Eng. Abdulaziz Al-Rumaih attended the signing ceremony at the Saudi Ministry of Health.

AlGhofaili affirmed that the MoU aligns with the Medical City's plans towards the objectives of the Saudi Transformation Program in Healthcare Sector, which contributes to the enhancement of advanced healthcare services provided through the localization of modern techniques in treatment.

"The localization of therapeutic technology in the Kingdom is one of our main goals, which aligns with the Saudi Vision 2030 regarding health transformation programs,” SPA quoted AlGhofaili as saying.

“Therefore, we seek to develop local capabilities in the field of advanced medical treatment and technologies by enhancing cooperation with national and international institutions,” he added.