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
Wealth
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
Luxury king Bernard Arnault, the founder and CEO of LVMH and the world’s fourth-richest person with a net worth of $184 billion, is making waves in the tech world with his recent investments in artificial intelligence. Through his tech-focused venture firm and family office, Aglaé Ventures, Arnault has made significant AI-related investments in 2024. Five
Private jet flights have experienced a noticeable decline of 15% in the first half of the year from their peak in 2022. This decline comes as the industry grapples with reduced demand and a shifting landscape for high-end travel. Despite a temporary increase in private jet flights during the Summer Olympics, with a record 713