Money and Wealth

Alice Walton’s brief reign as the world’s richest woman ended Thursday when Francoise Bettencourt Meyers, the heiress to the L’Oréal fortune, regained the top spot. Meyers saw her net worth surge to $93.1 billion, surpassing Walton’s $90.4 billion, following a strong rally in European luxury stocks tied to a Chinese...

Bernard Arnault, the influential head of LVMH, briefly slipped into the ranks of the world’s wealthiest individuals but quickly regained his position as the fifth-richest person. After shedding approximately $54 billion due to a slump in the luxury market, Arnault bounced back. Both the drop and the recovery in Arnault’s wealth...

NIQ, in collaboration with World Data Lab experts, has released a groundbreaking generational spending report focused on Gen Z. The "Spend Z" report leverages NIQ's extensive data and insights into consumer spending, showcasing their expertise in this domain. The report identifies Gen Z as the largest generation, comprising 2 billion...

Mark Zuckerberg, co-founder and CEO of Meta Platforms, has officially reached a staggering net worth of $200 billion, placing him in the elite circle of the world’s wealthiest individuals. He now stands alongside Amazon's Jeff Bezos and Tesla's Elon Musk, who are among the only three people globally to have...

Mukesh Ambani, India’s wealthiest individual, has added a new aircraft to his already expansive fleet of private jets. The Boeing Business Jet (BBJ) 737 MAX 9, which recently joined the Reliance Industries fleet, is the first of its kind in the country. After undergoing extensive cabin customizations and upgrades, the...

Mukesh and Nita Ambani, among the wealthiest individuals globally, helm Reliance Industries, a conglomerate with annual revenues of $120 billion. With ventures spanning petrochemicals, oil and gas, telecommunications, retail, media, and financial services, the Ambanis are also known for their extravagant lifestyle and ownership of some of the most luxurious...

A recent report by Oxfam reveals that the richest 1% of the global population holds more wealth than the bottom 95% combined. The study underscores the significant power billionaires exert over the world economy, with more than a third of the top 50 global corporations either being led by or...

Bernard Arnault, once the wealthiest person in the world just six months ago, is now slipping towards fifth place in global rankings. As the founder and CEO of LVMH Moët Hennessy Louis Vuitton, the French luxury conglomerate, Arnault was valued at an estimated $231 billion in late March, putting him...

One of Russia's most extraordinary entrepreneurial stories has taken a dark turn with tragic consequences. A shooting at the Moscow headquarters of Wildberries, the country’s largest online retailer, left at least two dead and seven others injured on Wednesday, according to media reports. The incident has plunged the billion-dollar company...

London holds the top spot in Europe for millionaires, with an impressive 258,000 residents boasting six-figure wealth. The city is also home to 36 billionaires, the highest number on the continent. According to new data from Henley & Partners' 2023 "World's Wealthiest Cities Report," London ranks as the fourth city...