Recent findings reveal an intriguing transformation in the landscape of philanthropy, particularly among affluent millennials and Generation Z. Unlike their predecessors, who primarily viewed charitable giving as a matter of duty, today’s younger wealthy individuals approach it with a renewed sense of activism and hands-on involvement. A recent survey from Bank of America Private Bank,
Wealth
In a strategic move away from mass production, Rolls-Royce has introduced its inaugural U.S. “Private Office” located in Manhattan’s Meatpacking District. This sophisticated design studio caters specifically to the high-net-worth clientele aiming for tailor-made vehicles. In an automotive landscape where luxury doesn’t just mean opulence but personalized artistry, Rolls-Royce is striving to redefine what it
The financial strategies and investment trajectories of high-net-worth individuals often mirror broader economic trends, and Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, is no exception. With a current net worth of approximately $11.5 billion, Powell Jobs has emerged as a significant player in the realm of artificial intelligence (AI) investment since 2022.
Recent findings reveal a notable dichotomy among millionaire investors regarding their political preferences, particularly when it comes to economic assessments. A new UBS survey has uncovered that a substantial majority of affluent individuals—those possessing at least $1 million in investible assets—are inclined to support Vice President Kamala Harris in the upcoming election, even while acknowledging
In a notable shift from previous years of caution and cash hoarding, family offices are now warming up to aggressive investment strategies as they anticipate the end of a prolonged phase of economic uncertainty. A recent survey conducted by Citi Private Bank reveals that a staggering 97% of family offices expect positive investment returns for
In the last decade, the landscape of ultra-wealth has changed dramatically, driven primarily by economic growth in select regions, notably China and the United States. According to a recent report by New World Wealth along with investment migration advisory firm Henley & Partners, the number of individuals classified as centimillionaires—those with investable wealth exceeding $100
As the political landscape shifts with the tightening presidential race, the ultra-wealthy are increasingly turning their attention to tax planning, particularly concerning the estate tax. With mounting apprehension about a potential rise in estate taxes, affluent investors are taking proactive steps to strategize their finances. Experts note that the approaching expiration of a significant estate
The ultra-wealthy population in China, those individuals with a net worth of at least $30 million, is expected to increase by almost 50% in the coming years. Projections from a recent Knight Frank wealth report indicate that the number of ultra-rich individuals in China will rise to 144,897 by 2028 from 98,551 in 2023. This
The United Kingdom is facing a troubling trend, as a record number of millionaires are expected to leave the country in 2024. This is according to the Henley Private Wealth Migration Report, which predicts a net loss of 9,500 high-net-worth individuals this year. This marks a significant increase from the 4,200 millionaires who left the
Burberry Group, a renowned British luxury fashion house, faced a major setback as it dropped out of the U.K.’s FTSE 100 stock market index after a 15-year stint. The company’s downfall was attributed to waning sales, multiple management changes, and a significant decline in its share price. With a current market cap of £2.34 billion