Gucci billionaire Francois Pinault crashes out of the global 100 richest

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The Straits Times 8h ago

Gucci billionaire Francois Pinault crashes out of the global 100 richest - The Straits Times

Quick Summary:

His wealth has dropped by two-thirds to US$20.3 billion from an August 2021 high.

His wealth has dropped by two-thirds to US$20.3 billion (S$27.3 billion) through Nov 21 from an August 2021 high, the largest percentage decline of anyone still on the index over the period.

The Pinault clan holds a 42 per cent stake and 59 per cent of voting rights in Paris-based Kering, whose shares have fallen by almost half this year.