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 Hosts International Chemistry Olympiad 2024

Riyadh hosts the 56th edition of the International Chemistry Olympiad 2024 (IChO 2024) from July 21 to 30. (SPA)
Riyadh hosts the 56th edition of the International Chemistry Olympiad 2024 (IChO 2024) from July 21 to 30. (SPA)
TT

Riyadh Hosts International Chemistry Olympiad 2024

Riyadh hosts the 56th edition of the International Chemistry Olympiad 2024 (IChO 2024) from July 21 to 30. (SPA)
Riyadh hosts the 56th edition of the International Chemistry Olympiad 2024 (IChO 2024) from July 21 to 30. (SPA)

Riyadh hosts the 56th edition of the International Chemistry Olympiad 2024 (IChO 2024) from July 21 to 30, the Saudi Press Agency said on Sunday.
The event is organized by the King Abdulaziz and his Companions Foundation for Giftedness and Creativity "Mawhiba”, in strategic partnership with the Ministry of Education and King Saud University (KSU), which will host the competition.
The IChO 2024, exclusively sponsored by Saudi Basic Industries Corporation (SABIC), will feature 333 students from 90 countries, with oversight, evaluation, and judging by 260 chemistry experts.
Students will compete for 10 honorary certificates, 110 bronze medals, 70 silver medals, and 35 gold medals. The final results will be announced on July 28 at 11 PM.
This annual scientific competition is the largest international chemistry contest for general education students.
Since its establishment in Prague, Czechoslovakia, in 1968, the competition has been held annually over ten days, with a different host country each year.
The Kingdom of Saudi Arabia participated as an observer in 2004 and 2005, then with students in 2006 and 2007. The Kingdom returned to participate as an observer in 2008, 2009, and 2010, and has since participated with students from 2011 up to present.
The Kingdom’s hosting of the IChO 2024 reflects the excellence of Saudi students on the international stage and enhances the Kingdom's status as a leading global destination in various scientific fields.