In September 1916, the world saw its first billionaire, John D. Rockefeller, due to the soaring share price of Standard Oil. Fast forward more than a century later, the question on everyone’s mind is who will be the first trillionaire. Companies like Berkshire Hathaway and Nvidia have already entered the trillion-dollar territory, sparking further speculation
Wealth
Sports team owners across various leagues are currently experiencing a unique set of challenges when it comes to passing down their wealth to the next generation. With team values soaring into the billions and the average age of team owners on the rise, there is a growing concern about how to smoothly transition ownership to
The world has witnessed a staggering 95% increase in the population of crypto millionaires over the past year, driven by the exponential growth of bitcoin exchange-traded funds and other crypto assets. According to a recent report by New World Wealth and Henley & Partners, there are now 172,300 individuals globally holding more than $1 million
The recent Monterey Car Week saw a 3% decline in auction sales compared to the previous year, signaling a shift in the market for classic cars. The total sales at five major auction houses during the event fell to $391.6 million, down from $403 million in 2023. This decline follows a 14% drop the year
Luxury king Bernard Arnault, the founder and CEO of LVMH, has been making waves in the tech world with his recent investments in artificial intelligence companies. With a net worth of $184 billion, Arnault has been on a shopping spree for AI-related ventures through his tech-focused venture firm and family office, Aglaé Ventures. Aglaé Ventures
The private jet industry has been experiencing a decline in demand, with private jet flights falling by 15% in the first half of the year compared to their peak in 2022. This decrease in demand can be attributed to various factors such as waning interest in high-end travel, a shift in consumer behavior, and a
The ongoing Murdoch family feud unfolding in a Nevada court sheds light on the state’s growing reputation as a global hub for family trusts and a favorable destination for some of the world’s wealthiest individuals. Recent legal industry rankings have placed Nevada at the pinnacle among states in the United States specializing in asset-protection trusts,
Wealthy investors and family offices have been reevaluating their investment strategies in light of recent market volatility. While many have reduced their exposure to stocks, they have not rushed to make impulsive decisions. Instead, they have viewed the drop in prices as an opportunity for tax savings and estate planning. The move away from equities
Dolce and Gabbana recently released a luxury perfume for dogs, costing over $100, sparking concerns from some animal welfare organizations. The fragrance, inspired by Fefé, the pet dog of brand-owner Domenico Dolce, raised questions about the impact of such products on pets. Despite being certified as suitable for animal use by the Safe Pet Cosmetics
India is set to experience the most rapid growth in the number of ultra high net worth individuals (UHNWIs) globally in the coming years, according to Knight Frank. The city of Mumbai has emerged as Asia’s premier billionaire hub, surpassing Beijing earlier this year. Globally, Mumbai holds the third position in terms of billionaire count,