Business Insider has named the “poorest” billionaires for whom this year was unsuccessful.
The leader of this anti-rating was LVMH’s Bernard Arnault, who lost $31 billion. Luxury brands have faced significant problems in the Chinese market, with a considerable percentage of youth unemployment and a protracted crisis in the real estate sector.
Françoise Bettancourt-Meyers, the heiress of L’Oréal, is incon the list. one lost $25 billion.
Mexican media mogul Carlos Slim, worth $82 billion, lost $23 billion this year.
Colin Huang, the wealthiest man in China and owner of PDD Holdings (which includes the Temu and Pinduoduo marketplaces), also had a bad year. He lost $17 billion.
François Pinault, the head of the Kering luxury group, which includes Gucci, Balenciaga, Saint Laurent, Bottega Veneta, and other brands, lost $14 billion. His company’s shares fell by 40%.
