Bernard Arnault World’s Richest Man Loses $11.2 Billion in a Single Day
Bernard Arnault, the world’s richest person, had $11.2 billion wiped from his fortune in one day over concerns that a softening US economy will dampen demand for luxury goods. The founder of LVMH — whose offerings include Louis Vuitton handbags,...
Mark Zuckerberg’s Wealth Surges By $10 Billion As Meta Sales Rebound
Facebook parent Meta's founder Mark Zuckerberg’s wealth surged by $10 billion on Thursday after its shares rose as much as 16 percent to hit an intraday high of $241. Meta shares ended 14 percent higher after the earnings report, lifting...
Christina Onassis: The Short Life of an Unhappy Heiress
Christina Onassis, the golden heiress of the Onassis shipping fortune, died in 1988 in a friend's house in Argentina at the age of 38.
Jeff Bezos Plans to Donate Most of His Fortune to Fight Climate Change
Jeff Bezos announced during an interview on Sunday that he will give away most of his $124 billion fortune to charities fighting climate change. Speaking to CNN, the Amazon founder said he wants to support people who can unify humanity...
Greek Households Reduce Food Consumption by 27%; Wealth Declines to 40%
Crisis-stricken Greeks have seen their wealth decline by 40%, their income dropping 26% and food consumption reduced by 27% in a five-year period, a Bank of Greece study shows. The data applies to the 2009-2014 period and shows that annual...
Allianz: Greeks Lost 30% of their Assets in 8 Years
Greeks lost 30 percent of their wealth since 2007, while in the rest of western Europe households are much better off economically in 2015 than in 2007, a report says. The Allianz Global Wealth Report, by German insurance giant Allianz, says...
New ECB Study Reveals Economic Situation in Eurozone Countries
Eurozone members did not feel the weight of the financial crisis equally, at least until 2013. Reuters sites European Central Bank data which shows the different implications of the European financial crisis on the wealth of different countries' citizens between 2009-2013. The citizens...
New Study Shows Decline of Greek Middle Class
An annual global study conducted by Credit Suisse revealed the effect of yet another tumultuous economic year on Greek households. Data from mid 2014 until mid 2015 showed that the average Greek's wealth fell from 98,097 dollars to 81,432 dollars in mid 2015, which translates...