When billionaire Jeff Bezos chose Venice for his wedding, he didn’t settle for modesty—he orchestrated a spectacle of wealth that highlights the deep chasm separating the ultra-rich from the everyday lives of ordinary citizens. In a city already strained by mass tourism and environmental challenges, this multi-million dollar extravaganza holds up a glaring mirror to
Wealth
In a move that has sent shockwaves through the luxury fashion industry, Kering’s stock surged over 10% following the announcement of Luca de Meo as its new group CEO. The French conglomerate, which has struggled under the weight of dwindling sales and brand mismanagement, appears to be making a daring attempt at rejuvenation. Investors, buoyed
A seismic shift is about to take place in the world of wealth management. Predictably dubbed the greatest wealth transfer in history, an estimated $100 trillion will transition from older generations—primarily Baby Boomers—to their heirs, generally comprising Millennials and Generation Z. Various reports suggest that a staggering 81% of these young inheritors are eyeing new
In an era dominated by rapid technological change and socio-economic upheaval, it’s fascinating how the affluent navigate their summer reading list as a blend of leisure and introspection. JPMorgan’s recently released summer reading guide has unwittingly become a mirror reflecting the ambitions and anxieties of the wealthiest among us. With titles focusing on happiness, artificial
As the world grapples with economic uncertainty, a stark divide continues to emerge: while the majority tighten their belts, the ultra-wealthy are still indulging in lavish displays of affluence. Ornate diamond rings and exclusive gemstone necklaces are no longer just adornments; they’re symbols of status that survive economic downturns. This obsession with high-end jewelry, notably
In a world where economic uncertainty looms large, the luxury goods market seems to defy gravity. Richemont, the powerhouse behind luxury brands like Cartier, has recently posted fourth-quarter sales that exceeded expectations, showcasing a staggering 7% rise in revenues compared to the previous year. This surge may initially appear as a beacon of hope in
Burberry, an iconic name in luxury fashion, is grappling with a plethora of challenges as they embark on a bold, yet troubling, organizational overhaul. Announced recently, the company disclosed a plan that could potentially alter the fate of around 1,700 employees globally in a bid to slash costs and stabilize its wavering sales figures. This
The upcoming auction of a 1999 platinum Rolex Daytona at Sotheby’s Geneva is more than just a martini of engineering and luxury; it’s a compelling narrative woven into the fabric of horological history. With a staggering potential sale price of up to $1.7 million, this watch stands as a testament to both exclusivity and craftsmanship.
In a city renowned for its political intrigue and wealth disparity, the emergence of the Executive Branch, a new private membership club co-founded by Donald Trump Jr., is both eye-popping and troubling. With a staggering membership fee of $500,000 and an extensive waiting list, this club epitomizes the unsettling trend toward exclusivity that has gripped
In an industry accustomed to opulence and glitz, the recent revenue plunge of Kering, a titan in the luxury goods sector, is nothing short of alarming. The French powerhouse reported a staggering 14% decrease in first-quarter sales, amounting to 3.9 billion euros, which was well below the forecasts of analysts. This drop is not merely