Fashion boosts number of billionaires in Europe

According to data gathered by Forbes magazine, the

industry that has generated the largest amount of billionaires in Europe is Fashion & Retail.

In 2013, Spanish retail mogul Amancio Ortega has been crowned the year’s biggest gainer after adding 19.5 billion dollars and becoming the world’s third richest man.

Among the European fortunes comprehended within the industry stand out that of Stefan Persson, the H&M founder’s son, worth 28 billion dollars; Italian Giorgio Armani is worth 8.5 billion dollars.

French Francois Pinault is worth 15 billion dollars thanks to the strong performance of his group (PPR) owned high-end fashion houses including Gucci, Stella McCartney, Alexander McQueen and Yves Saint Laurent.

In Russia, Europe’s fourth largest economy, the concentration of wealth in the nation is impressive. There are 110 billionaires with Russian citizenship, with combined wealth of 427.1 billion dollars more than in any other European nation and only behind the United States.