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
Wealth
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
Bernard Arnault, the founder and CEO of LVMH and one of the world’s wealthiest individuals, has been making significant investments in artificial intelligence companies through his venture firm and family office, Aglaé Ventures. These investments have not only showcased Arnault’s interest in the technology sector but also demonstrated his commitment to staying ahead of the
The private jet industry is experiencing a significant shift, marked by a 15% decline in private jet flights in the first half of the year compared to the peak in 2022. This downturn comes as the industry grapples with changing consumer preferences and a new competitive landscape for high-end travel. Despite a brief surge during