Wealth

In an unexpected twist befitting a corporation bucking the winds of change, Kering—parent to iconic names like Gucci and Saint Laurent—has appointed Luca de Meo as its new CEO. The fashion house experienced a notable surge in its stock, with shares climbing over 10% upon the announcement. This spirited uptick signals investor optimism in a

As the world stands on the precipice of a monumental wealth transfer estimated at $100 trillion, the stark reality is beginning to surface for wealth management firms. An overwhelming majority—81% of future millionaires—indicate a determination to sever ties with their parents’ wealth management advisors, largely due to perceived deficiencies in technology and service offerings. This

In an era marked by stark economic divides, JPMorgan’s latest summer reading list epitomizes the dichotomy between the affluent and the rest of society. Touted as the preferred selection of the well-to-do, the list spans themes from happiness and resilience to artificial intelligence and the future viability of the U.S. dollar. Notably, the release has

In an age where economic uncertainty reigns and consumer confidence fluctuates like the stock market, the glittering allure of luxury jewelry shines resiliently in the hands of the wealthy elite. As broader luxury retail experiences a pullback, the super-rich continue unabashedly to showcase their opulence through exquisite pieces adorned with gemstones that speak of exclusivity

The luxury market often feels like a bubble, floating gracefully above the chaos of global economies. Yet, the latest financial performance of Richemont, the parent company of Cartier, challenges this narrative. Announcing a 7% year-on-year rise in fiscal fourth-quarter sales to 5.17 billion euros ($5.79 billion)—far eclipsing analysts’ predictions—Richemont demonstrates an astonishing resilience that most

Burberry, a longstanding emblem of British luxury, finds itself grappling with a complex set of challenges that now necessitate significant organizational changes. On Wednesday, the brand announced plans that could potentially lead to a staggering reduction of around 1,700 roles worldwide as part of its ongoing turnaround strategy, slated for completion by 2027. This move

The upcoming auction of a unique 1999 platinum Rolex Daytona at Sotheby’s Geneva has elicited a complex web of emotions. Expected to fetch a staggering $1.7 million, this piece not only represents an astounding financial investment but also evokes a debate about the philosophy of luxury, consumerism, and the very nature of value in today’s

The launch of the Executive Branch in Washington, D.C., co-founded by Donald Trump Jr. and a cadre of affluent players, is more than a lavish private membership club; it’s a blaring signal of the deepening socio-political divide that characterizes the American landscape today. With a staggering initiation fee of $500,000, it begs the question: who

What has long been branded as a bastion of exclusivity and affluence seems to be cracking at its very core, as Kering, the powerhouse behind luxury labels like Gucci, reported a staggering 14% drop in first-quarter revenues. This revelation, amounting to 3.9 billion euros, has laid bare the fragility of not just Kering’s operations but

In 2024, the IRS seemed poised to finally tackle the glaring inequities in tax collection, particularly among high-net-worth individuals and elite corporations. With a monumental $80 billion infusion from Congress, the agency embarked on a hiring spree aimed at bringing in young, technologically adept accountants and analytical minds who could unearth the intricacies of complex