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
Wealth
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
Back in 1916, the world marveled at the announcement of the first billionaire, John D. Rockefeller, reaching a wealth milestone previously thought to be unattainable. Fast forward to the present day, and we now have the looming question of who will be the first trillionaire. The fascination with this prospect is palpable, with several companies
In the realm of professional sports, team owners are facing a unique set of challenges driven by the culmination of rising team values and an aging owner demographic. As the average age of sports team owners continues to increase, the need for meticulous succession planning has never been more pressing. In recent years, team values
The past year has seen an incredible surge in the population of crypto millionaires worldwide. According to a recent report by New World Wealth and Henley & Partners, the number of individuals holding more than $1 million in crypto assets has skyrocketed by 95%, rising from 88,200 to 172,300. This exponential growth is attributed to
The classic car market is experiencing a shift from older to newer cars, as evidenced by the 3% decline in auction sales during Monterey Car Week. This shift has left a pileup of unsold classics from the 1950s and 1960s. Total sales at this year’s five car auctioneers in Monterey fell to $391.6 million from