LVMH chief Bernard Arnault and Reliance Industries chairman Mukesh Ambani—the world’s fifth- and eighteenth-wealthiest people—attended President Donald Trump’s inauguration events Monday, marking a pair of surprise billionaire appearances at the event attended by a cadre of moguls worth well over $1 trillion.

Montaka Global Investments, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here.

Mr Trump is more transactional than presidents before him, which increases the risk of cronyism and self-dealing. But America’s economy, including its technology industry, is too unwieldy and dynamic to petrify into an actual oligarchy, whatever diplomats and departing presidents say. ■

Elon Musk, Jeff Bezos, and three others are projected to become trillionaires over the next decade, further deepening global inequality as poverty levels remain stagnant.

Trump's inauguration drew several business and tech CEOs, including Jeff Bezos, Mark Zuckerberg, Elon Musk, Tim Cook, and TikTok's Shou Zi Chew.

The UK's FTSE 100 slipped on Friday, as a jump in sterling hurt export-oriented firms, while Burberry soared after a strong U.S. holiday season helped the luxury firm beat quarterly sales expectations.

This year's list highlights several tech-driven tycoons from the United States who have leveraged education and innovation to amass their fortunes.

The perfume retailer is gearing up to expand internationally in 2025, with its first store outside of UK opening in Dublin later this year

Geographically, the consumer goods Goliath is trending back towards growth in Greater China. Organic sales in the region were down just -3% in Q2 2025 on the prior year quarter. Whereas in Q1 2025, they were down -15% on the prior year quarter. The company described this as an encouraging momentum towards recovery.

The LVMH Moët Hennessy Louis Vuitton titan had prime seating near former Presidents Bill Clinton, George Bush and Barack Obama.

“The golden age of America begins right now,” Trump proclaimed. For his billionaire backers, it has already begun.