Mexican financier David Martinez Guzman is the seller of a 1966 Francis Bacon portrait estimated at 30 million pounds ($49 million) that’s scheduled to be auctioned next month, said two people with knowledge of the matter.
Francois Pinault’s Artemis SA holding company, through which he controls PPR and its luxury goods brands including Gucci and Yves Saint Laurent, went back on trial in a $4 billion California junk-bond case.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
French billionaire Francois Pinault’s holding company Artemis SA agreed to pay American International Group Inc.’s SunAmerica unit $62.5 million to settle a lawsuit over an investment in a California insurer.