ColumnistsMay 25, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
EditorsMar 13, 2007
Baubles and billionaires
The jewelry industry loves billionaires. After all, how many regular old millionaires can plunk down $250,000 for a new necklace or a fancy ring? Apparently, the jewelry industry breeds billionaires, too. A good chunk of the people on Forbes' recently...
The jewelry industry loves billionaires. After all, how many regular
old millionaires can plunk down $250,000 for a new necklace or a fancy
ring? Apparently, the jewelry industry breeds billionaires, too. A good chunk of the people on Forbes'
recently released list of the world's 947 billionaires in 2007 have some connection to the 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. Of course, Buffett has his money in just about every industry out there. Fellow Berkshire Hathaway shareholder Franklin Booth Jr., worth $2.1 billion, comes in at No. 458 on the list. The company's vice chairman Charles Munger, worth $1.9 billion, is ranked at No 538.
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.
At the other end of the retail spectrum, the country's largest
jeweler, Wal-Mart, appeared responsible for the most members of
the billionaire's club, including Jim Walton (No. 23, worth $16.8 billion), Christy Walton and family and S. Robson Walton (tied at No. 24, worth $16.7 billion each), Alice Walton (No. 26, worth $16.6 billion), Helen Walton (No. 29, worth $16.4 billion), Ann Walton Kroenke (No. 336, worth $2.7 billion) and Nancy Walton Laurie (No. 407, worth $2.3 billion).
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. A side note (because I'm a gossip junkie): Pinault's son Francois-Henri Pinault, who is chairman and chief executive officer of PPR, just announced his engagement to actress Salma Hayek, who is pregnant with his baby. Will keep you posted when I get details on the ring.
More on Editors
The Latest
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
