Tag: LVMH

Forbes has released its list of the world’s billionaires. There are more than ever before — and they’re wealthier.
Money

Forbes has released its list of the world’s billionaires. There are more than ever before — and they’re wealthier.

Forbes has released its annual list of the world's billionaires and in 2024, there are more people on the list than ever — and they're richer than ever.There are 141 more billionaires in the world than last year, with 2,781 in total. Their combined worth equals $14.2 trillion — up by $2 trillion in 2023.The 2024 list also broke records set in 2021, with 26 more billionaires on the list and their combined net worth up by $1.1 trillion.  Billionaires themselves are also wealthier, with two-thirds adding to their worth. The top 20 on the list gained the most, adding $700 billion to their combined worth since 2023. And the U.S. has a record 813 billionaires — the most of any country.China has 473 billionaires and India has 200, which set a record for that c...
Novo Nordisk Becomes Europe’s Most Valuable Company
Business

Novo Nordisk Becomes Europe’s Most Valuable Company

LONDON (Reuters) -Danish drugmaker Novo Nordisk unseated LVMH as Europe’s most valuable listed company on Friday, ending the French luxury group’s 2-1/2 year-long reign at the top.LVMH, the world’s biggest luxury retailer, has been hurt by growing concerns about the outlook for the Chinese economy.Novo is meanwhile riding a wave of demand for its highly effective diabetes and weight-loss drugs Ozempic and Wegovy, which has sent its earnings and shares to record highs.Its shares have risen around 17% since it announced on Aug. 8 that a large study had shown Wegovy also had a clear cardiovascular benefit, boosting the company’s hopes of moving beyond its image as a lifestyle drug.As of Friday’s close, Novo Nordisk had a market capitalisation of around $424.7 billion including unlisted stock...