French billionaire Francois Pinault, owner of Bordeaux first-growth wine estate Chateau Latour on the left bank of the Gironde estuary, is buying a stake in three vineyards on the right bank, Sud Ouest said.
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.
Andy Warhol’s $32 million self- portrait and Willem de Kooning’s $15 million painting of a redheaded woman will tempt billionaires from Qatar, Hong Kong and Moscow at the world’s largest modern and contemporary art fair this week in Switzerland.
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.
Three cases of 2002 Chateau Latour, a first-growth wine estate in the Pauillac district, sold for 3,250 pounds ($5,445) each, the lowest level in four years and another sign that buyers are more interested in older Bordeaux.
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.