Losers French millionaires who own expensive goods: In 2024, the fortunes of Francois Pinault, Francoise Bettencourt Meyers, and Bernard Arnault—all of whom.
Are wealthy due to their investments in the luxury goods industry—saw significant losses. Following years of pandemic-driven profits,
The three billionaires lost $71 billion as a result of decreasing sales, particularly in the crucial Chinese market, where luxury shopping replaced spending on entertainment and eating.
Colin Huang Among Chinese billionaires, Huang saw the largest loss in fortune. Temu’s e-commerce tycoon temporarily topped the Chinese wealth rankings in August,
But he finished the year $18 billion poorer when his company’s shares fell 29% in a single day due to a poor earnings report.
Following his allegations that a previous financial consultant had defrauded him, Ricardo Salinas, the chairman of Grupo Elektra SAB,
