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.



7th International Show for Beauty of Arabian Purebred Horses to Start December 11

The organizing committee said that horse registration ended on November 8  - File Photo/Reuters
The organizing committee said that horse registration ended on November 8 - File Photo/Reuters
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7th International Show for Beauty of Arabian Purebred Horses to Start December 11

The organizing committee said that horse registration ended on November 8  - File Photo/Reuters
The organizing committee said that horse registration ended on November 8 - File Photo/Reuters

Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the King Abdulaziz Arabian Horses Center will hold here the 7th International Show for Beauty of Arabian Purebred Horses on December 11-14.
The organizing committee said that horse registration ended on November 8 and that a press conference will be held on December 4 in Riyadh to provide more information about the number of participating horses, the value of prizes, and judges, sponsors, and participants, SPA reported.
The show is one of the most significant such championships in the world. In the last edition, 296 horses belonging to 176 owners participated in all categories.