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.



Wadi Najran Overflows with Rainwater

Torrential rains in Najran region have led to sustained flooding in Wadi Najran. - SPA
Torrential rains in Najran region have led to sustained flooding in Wadi Najran. - SPA
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Wadi Najran Overflows with Rainwater

Torrential rains in Najran region have led to sustained flooding in Wadi Najran. - SPA
Torrential rains in Najran region have led to sustained flooding in Wadi Najran. - SPA

Torrential rains in Najran region have led to sustained flooding in Wadi Najran.
The floodwaters, originating from the Najran Dam and surrounding valleys and reefs, have continued to flow through the wadi for several days, SPA reported.
Wadi Najran is one of the largest valleys in the Kingdom of Saudi Arabia, as it extends for 180 kilometers to the east, starting between the mountains in the far west of the city and ending in the sands of the Empty Quarter. Its average width in the plains is 1,000 meters, and its tributaries come from the Hijaz Mountains and the plateaus surrounding the region.

The flow of torrential rains in the valley through palm plantations and historic mud houses provides breathtaking landscapes that attract visitors to spend beautiful and enjoyable times with family and friends and take pictures of the place.