The recent plunge in Hugo Boss shares, declining as much as 10%, can be attributed to the company cutting its sales outlook for the year. The German fashion house reduced its sales forecast to up to 4.35 billion euros from the previous estimate of up to 4.45 billion euros. This adjustment is a clear indication
Wealth
A new report forecasts that up to $9 trillion will be passed on to spouses and partners in the near future in what is being referred to as the “horizontal wealth transfer.” Aging baby boomers and older generations are expected to transmit a total of $84 trillion in wealth to charity and family members over
The upcoming wedding of Anant Ambani, the youngest son of Indian tycoon Mukesh Ambani, has garnered significant attention due to its opulence. The three-day event, set to take place in Mumbai, is filled with lavish pre-wedding celebrations and will culminate in a grand wedding reception. The sheer scale and extravagance of the festivities have captured
The 2024 Global Wealth Report from UBS predicts a significant rise in the number of global millionaires over the next five years with only a few countries showing a contrasting trend. It is projected that the number of adults owning $1 million or more will increase in 52 out of 56 developed and developing economies
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
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