The luxury goods industry, once a symbol of resilience through financial upheavals, is now facing unprecedented challenges. According to the latest report from Bain & Company, the sector is expected to experience its first significant slowdown since the Global Financial Crisis. This downturn, which has emerged amid macroeconomic uncertainties and a marked deceleration in the
Wealth
In recent years, family offices, which serve as investment vehicles for ultra-high-net-worth families, are making noteworthy shifts away from traditional investment routes like private equity funds. A recent survey conducted by Bastiat Partners and Kharis Capital reveals that nearly half of these entities are planning to pursue direct investment opportunities in private companies over the
As the political landscape in the United States becomes increasingly polarized, an unprecedented number of affluent Americans are contemplating moving abroad. Following the recent elections, anxiety over political and social instability has created a heightened interest in international migration, as reported by various immigration attorneys and wealth advisors. This exodus, driven by fears that transcend
In recent years, the dynamics of charitable giving have undergone a significant transformation. A fresh perspective emerges particularly among wealthy millennials and Generation Z individuals, who are increasingly approaching philanthropy as a form of activism rather than a simple monetary transaction. A survey conducted by Bank of America Private Bank reveals critical insights on how
In a bold and innovative step, Rolls-Royce has unveiled its first U.S. “Private Office,” strategically located in the bustling Meatpacking District of Manhattan. This exclusive space caters to an elite clientele seeking unparalleled levels of customization in their automotive purchases, shifting the company’s sales strategy towards bespoke offerings over mass production. With a production count
Laurene Powell Jobs, known primarily for her philanthropy and as the widow of Steve Jobs, co-founder of Apple, has steadily emerged as a significant player in the world of artificial intelligence (AI). The evolution of her investment strategy has become particularly noteworthy, especially with the recent reports detailing her family office, Emerson Collective, diversifying into
A recent survey conducted by UBS has unveiled some intriguing insights into the political preferences of millionaire investors as the November elections approach. Despite a favorable view of former President Donald Trump’s handling of the economy, an overwhelming 57% of surveyed millionaires plan to cast their votes for Vice President Kamala Harris. This dichotomy reflects
Family offices—private investment entities for the ultra-wealthy—are signaling a notable shift in their investment strategies following a prolonged period marked by financial caution. The latest findings from Citi Private Bank’s Global Family Office Survey suggest that these entities are gradually abandoning their cash hoards in favor of a more aggressive investment posture. A striking 97%
Over the last decade, the landscape of global wealth has undergone a dramatic transformation. A recent report from New World Wealth and Henley & Partners unveils an explosive growth in the population of centimillionaires—individuals with investable wealth exceeding $100 million. As prosperity spreads, particularly across China and the United States, the demographic of the ultra-wealthy
In the midst of an increasingly competitive presidential race, high-net-worth investors are faced with a growing urgency to reassess their tax planning strategies. The looming expiration of a generous estate tax exemption exacerbates the sense of urgency among affluent individuals and families, as they grapple with the implications of potential tax hikes. Advisors and tax