The world of charitable giving is undergoing a noteworthy transformation, particularly influenced by younger individuals in positions of wealth. A recent survey conducted by Bank of America Private Bank reveals that wealthy millennials and Gen Zers approach philanthropy differently than previous generations. Rather than merely writing checks or funding projects, these young philanthropists embody an
Wealth
In an undeniable transition towards the heights of luxury customization, Rolls-Royce recently inaugurated its first-ever United States “Private Office” in Manhattan, situated in the upscale Meatpacking District. This venture marks a pivotal moment in the British luxury carmaker’s strategy to increase profit margins while maintaining an unyielding focus on exclusivity. In a world where mass
Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, has been making waves in the investment world with her significant focus on artificial intelligence (AI). Her family office, Emerson Collective, is not just another investment vehicle; it embodies her philanthropic aspirations alongside her business pursuits. Recent reports indicate that Emerson Collective has been actively
A recent survey conducted by UBS has revealed intriguing insights into the political preferences and economic viewpoints of wealthy investors as they approach the upcoming presidential elections. Among millionaires possessing at least one million dollars in investable assets, a notable 57% indicate an intention to support Vice President Kamala Harris, while 43% are leaning towards
Recent data reveals a promising outlook for family offices as they shift from periods of cash hoarding to more dynamic investment strategies. A new survey conducted by Citi Private Bank indicates that a staggering 97% of family offices are anticipating positive returns in the coming year, with nearly half forecasting double-digit gains. This represents a
The past decade has witnessed a staggering increase in the number of centimillionaires worldwide, with China at the forefront of this trend. According to a comprehensive study conducted by New World Wealth and Henley & Partners, the significant rise in ultra-high-net-worth individuals (UHNWIs) has transformed the landscape of global wealth distribution. Centimillionaires are defined as
As the political landscape grows increasingly polarized and the 2024 presidential election approaches, the affluent are taking proactive measures to navigate potential tax reforms, particularly concerning estate and gift taxes. This growing urgency stems from concerns about the expiration of a favorable tax provision and the potential for increased taxation on wealth transfers. Wealth advisors
China’s ultra-wealthy population is on the rise, with projections indicating a significant increase in the number of individuals with a net worth of at least $30 million by 2028. Despite economic headwinds and a slowing growth rate in the country, wealthy Chinese individuals are strategically parking their wealth in various investment avenues. The current trend
The United Kingdom is expected to experience a significant exodus of millionaires this year, according to a recent study. The Henley Private Wealth Migration Report predicts a net loss of 9,500 high-net-worth individuals in 2024, more than double the figure recorded the previous year. This trend is attributed to various factors, including the upcoming general
British luxury fashion house Burberry Group’s recent drop from the U.K.’s FTSE 100 stock market index has brought to light a series of issues plaguing the 168-year-old retailer. With declining sales and numerous management changes, Burberry’s once strong position in the market has been eroded, leading to its exit from the prestigious FTSE 100 blue-chip