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Billionaires Love Diamonds and Jewelry!
Beth Braverman of National Jeweler has an excellent posting on how the jewelry industry and billionaires seem to get along incredibly well!
Indeed, a good chunk of the people on Forbes' recently released list of the world's 947 billionaires in 2007 have some connection to the diamond and jewelry industry.
Ranked at No. 2 (behind Bill Gates) is Warren Buffett, worth $52 billion, whose company, Berkshire Hathaway, owns several of the country's top jewelry chains, including Helzberg Diamonds, Borsheim's and Ben Bridge Jeweler.
Warren Buffett Loves Diamonds.
With only half the fortune of Buffett, Bernard Arnault ranks No. 7 on the list. Worth $26 billion, Arnault owns 51 percent of LVMH Moet Hennessy Louis Vuitton and Christian Dior, and serves as chairman of both companies. LVMH owns a bevy of luxury brands, including TAG Heuer and Zenith.
Francois Pinault, worth $14.5 billion, appears at No. 34 on the list. Pinault is the majority shareholder of luxury goods group PPR, which owns Gucci, Boucheron and Bedat & Co. He also owns Christie's auction house.
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