France’s wealth gap grows as beauty billionaires see fastest fortune growth

France’s wealth gap grows as beauty billionaires see fastest fortune growth

France’s billionaires have enjoyed the steepest increase to their fortunes in the world, according to a report published by Bloomberg.

The 14 French citizens listed on Bloomberg’s Billionaires Index saw their collective net worth grow 35 percent over the first six months of the year, more double the rate of growth enjoyed by the wealthiest in China and the US.

Bernard Arnault of LVMH fame, Kering’s Francois Pinault and L’Oréal heiress Francoise Bettencourt Meyers alone accounted for combined growth of US$53 billion. Arnault’s sharp uplift sent him into the ranks of the US$100 billion club – Amazon’s Jeff Bezos and Microsoft Founder Bill Gates are the only other members.

Thailand and Singapore were the only other countries to see gains above 30 percent (33 percent and 31 percent respectively.

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