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
Wealth
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
In 1916, the world saw its first billionaire in the form of John D. Rockefeller, the founder and largest shareholder of Standard Oil. Fast forward to the present day, where the idea of becoming a trillionaire has captured the interest of many. Companies like Berkshire Hathaway and Nvidia have already crossed the trillion-dollar mark, sparking
Sports team owners are currently experiencing the dual pressures of escalating team values and the inevitable realities of death and taxes. As the average age of team owners increases and team values reach unprecedented levels, owners and leagues are now focusing more on ensuring a smooth transition of ownership to the next generation of buyers.
The recent surge in the population of crypto millionaires around the world has been astonishing, with a whopping 95% increase in the past year alone. According to a report by New World Wealth and Henley & Partners, there are now 172,300 individuals globally who hold more than $1 million in crypto assets, as opposed to
The Monterey Car Week auction sales witnessed a 3% decline from the previous year, indicating a shift in preferences from older to newer cars. The total sales at five prestigious car auctioneers in Monterey, namely RM Sotheby’s, Broad Arrow, Gooding & Company, Mecum, and Bonhams, dropped to $391.6 million this year from $403 million in