Millennials are on the cusp of becoming the wealthiest generation in history, with a staggering $90 trillion wealth transfer expected to take place over the next two decades. This transfer of assets from the silent generation and baby boomers to millennials will undoubtedly make them the “richest generation in history,” as estimated by global real
Wealth
Ferrari, a brand synonymous with luxury, speed, and power, is taking a bold step into the future with the development of an all-electric model. The CEO of Ferrari, Benedetto Vigna, has expressed his excitement about this new venture, highlighting that the electric Ferrari retains the driving traits and emotional experience that define the brand. Despite
The United Arab Emirates has solidified its position as the world’s top wealth magnet for the third consecutive year, as per the recent research conducted by the Henley Private Wealth Migration Report. The report suggests that the UAE is on track to witness a net inflow of 6,700 millionaires from various corners of the world
Generation X, defined as individuals between the ages of 44 and 59, has been largely overshadowed in discussions about the upcoming Great Wealth Transfer. While the spotlight has been on millennials and Generation Z, it turns out that Gen Xers are poised to receive the largest windfalls in the near future. According to Wealth-X, the
Christina Lewis, the daughter of Reginald Lewis, the first African American to build a business with $1 billion in revenue, found herself thrust into the world of wealth management at a tender age of 13. Lewis’s journey began with a meeting that would forever change her perspective on managing wealth. Since then, she has navigated
Family offices are increasingly shifting their investment strategies towards becoming their own private equity funds. A recent survey by BNY Mellon Wealth Management revealed that 62% of family offices made at least six direct investments in the previous year. This involved buying stakes in private companies or providing lending directly. Moreover, a staggering 71% of
The U.S. saw a significant increase in its millionaire population in 2023, adding 600,000 new millionaires and boosting the total to 7.5 million people. These millionaires collectively amassed fortunes totaling $26.1 trillion, marking a 7% growth from the previous year. The definition of millionaires by Capgemini encompasses individuals with investible assets exceeding $1 million, excluding
Aston Martin, a renowned sports carmaker with a rich history of financial struggles, seems to be on the brink of a new era. With Executive Chairman Lawrence Stroll at the helm, the company is gearing up for a major transformation. Stroll’s ambitious plans, coupled with a flurry of new models and a marketing boost from
The mass migration of wealthy individuals from high-tax states like New York to Florida has resulted in record demand for household staff in elite Florida enclaves, particularly Palm Beach. According to staffing agencies, housekeepers in Palm Beach and South Florida are in high demand, with salaries often exceeding $150,000. Not only are there bidding wars
Recent surveys have highlighted a concerning trend – family offices are increasingly becoming targets for cybercriminals. According to a survey by Dentons, a global law firm, 79% of North American family offices believe that the likelihood of a cyberattack has significantly increased in recent years. What’s even more alarming is that a quarter of family