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

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

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.



Britain's Princess Kate: Love is the Greatest Christmas Gift

Visitors walk through the 'Cathedral' on the Christmas light trail as it returns for its12th year with a showcase of new installations set within the UNESCO World Heritage Site landscape of Kew Gardens in London, England, Tuesday, Nov. 12, 2024. (AP Photo/Kirsty Wigglesworth)
Visitors walk through the 'Cathedral' on the Christmas light trail as it returns for its12th year with a showcase of new installations set within the UNESCO World Heritage Site landscape of Kew Gardens in London, England, Tuesday, Nov. 12, 2024. (AP Photo/Kirsty Wigglesworth)
TT

Britain's Princess Kate: Love is the Greatest Christmas Gift

Visitors walk through the 'Cathedral' on the Christmas light trail as it returns for its12th year with a showcase of new installations set within the UNESCO World Heritage Site landscape of Kew Gardens in London, England, Tuesday, Nov. 12, 2024. (AP Photo/Kirsty Wigglesworth)
Visitors walk through the 'Cathedral' on the Christmas light trail as it returns for its12th year with a showcase of new installations set within the UNESCO World Heritage Site landscape of Kew Gardens in London, England, Tuesday, Nov. 12, 2024. (AP Photo/Kirsty Wigglesworth)

Kate, Britain's Princess of Wales, says love is the greatest gift people can give each other in a message to guests who will attend her annual Christmas carol service next week at London's Westminster Abbey.
The Dec. 6 carol concert, the fourth she has hosted, marks Kate's most prominent return to royal engagements since she underwent a course of preventative chemotherapy for cancer.
In a letter to the 1,600 invited guests, Kate, 42, the wife of heir to the throne Prince William, returned to themes of love and the need for empathy about which she has spoken in previous very personal statements and video updates on her health.
Christmas, her letter said, was not only a time for celebration, but also for reflection and relief from the pressures of daily life.
She said the Christmas story reflected "our own vulnerabilities", and how much people needed each other despite their differences.
"Above all else it encourages us to turn to love, not fear," she wrote. "It is this love which is the greatest gift we can receive. Not just at Christmas, but every day of our lives," Reuters quoted her as saying.
William, who earlier this month said the year had been "brutal" for the royal family with Kate's treatment coming in the wake of his father King Charles' own cancer diagnosis, will give a reading at the service.
Six-time Olympic track cycling champion Chris Hoy, who revealed he had terminal cancer himself in October, will light a candle.
The "Together At Christmas" service will be broadcast on Britain's ITV on Christmas Eve.