The ultra-wealthy population in China, those individuals with a net worth of at least $30 million, is projected to increase by almost 50% in the coming years. Despite facing economic headwinds and slowing growth, the number of wealthy Chinese is expected to swell to 144,897 by 2028 from 98,551 in 2023, according to a recent
Wealth
The United Kingdom is facing an alarming trend as a record number of millionaires are expected to leave the country this year, according to new research. The upcoming general election is predicted to further exacerbate this exodus, with significant implications for the country’s economy and overall wealth distribution. The Henley Private Wealth Migration Report highlights
In a surprising turn of events, Burberry Group, the British luxury fashion house, has dropped out of the U.K.’s FTSE 100 stock market index, marking the end of a 15-year tenure in the blue-chip index. This move comes amidst a series of management changes and plummeting sales, signaling significant challenges for the 168-year-old retailer. Burberry,
Back in 1916, newspapers around the United States were abuzz with news of the world’s first billionaire. It was a milestone that seemed unattainable until Standard Oil’s share price soared to $2,014, making John D. Rockefeller a likely candidate for billionaire status. Fast forward to the present day, and the world is now fixated on
As sports team values continue to soar into the billions, team owners are facing new challenges when it comes to succession planning. The average age of team owners is rising, with many owners in their 70s and beyond. This poses a critical issue for owners who are looking to pass down their assets to the
The world has witnessed a staggering 95% increase in the population of crypto millionaires over the past year. According to a report from New World Wealth and Henley & Partners, there are now 172,300 individuals worldwide who hold more than $1 million in crypto assets. This significant surge marks a substantial growth from the 88,200
The Monterey Car Week saw a 3% decrease in auction sales compared to the previous year, with a total of $391.6 million in sales. This decline can be attributed to a shift in preferences from older classic cars to newer models, leading to a surplus of unsold classics from the 1950s and 1960s. The market
Luxury mogul Bernard Arnault, known for his role as the CEO of LVMH and his immense wealth, has been making strides in the world of artificial intelligence (AI) investments. His ventures into this sector have showcased his commitment to innovation and technology, signaling a shift in focus for the business magnate. Arnault’s tech-focused venture firm
Private jet flights have seen a substantial decrease of 15% in the first half of this year compared to the peak in 2022. The once-thriving industry is now facing challenges due to diminishing demand and a changing landscape in high-end travel. Despite a temporary surge during the Summer Olympics, where there were a record number
In the realm of asset-protection trusts, Nevada has firmly established itself as a leading jurisdiction. With a combination of factors such as no income taxes, strict secrecy laws, and robust protections against creditors, the state has become an attractive hub for high-net-worth individuals seeking to safeguard their assets. Nevada’s superiority in this area is further