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
Wealth
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
Wealthy investors and family offices have been gradually moving away from stocks in favor of private markets in recent years. This shift has been prompted by concerns about an overheated tech sector and the desire for a more stable investment environment. According to a UBS family office survey, family offices now have 35% of their
Dolce and Gabbana’s luxury perfume for dogs is causing quite a stir, with concerns raised by some animal welfare organizations. The high-end fragrance, inspired by Fefé, the pet dog of brand-owner Domenico Dolce, comes with a hefty price tag of over $100. While the perfume is marketed as alcohol-free and safe for pets, questions have
India is currently experiencing a significant rise in ultra high net worth individuals (UHNWIs), with growth rates set to skyrocket in the coming years. Mumbai, India’s financial center, has surpassed Beijing as Asia’s top billionaire hub, coming in third globally after New York and London in terms of billionaire count. This growth is indicative of
Jeff Bezos, the founder of Amazon and one of the wealthiest individuals in the world, has been garnering attention not only for his lavish purchases but also for his recent foray into artificial intelligence investments through his family office, Bezos Expeditions. According to exclusive data provided by FINTRX, a private wealth intelligence platform, all investments
The United Arab Emirates is on track to maintain its position as the world’s leading destination for high-net-worth individuals seeking to relocate. The recent Henley Private Wealth Migration Report indicates that the UAE is attracting a record number of millionaires, with a projected net inflow of 6,700 millionaires by the end of 2024. This trend
In the world of family offices, a new trend is emerging – the offering of lucrative shares of equity and deal profits to employees. This shift comes as family offices find themselves in a fierce competition for top talent with private equity firms and venture funds. As the landscape evolves, family offices are adapting their