In an era marked by economic uncertainty and shifting consumer preferences, the personal luxury goods market is experiencing a pivotal moment. According to Bain & Company’s annual luxury report, the sector is poised for its first downturn since the aftermath of the Global Financial Crisis, drawing attention to the evolving dynamics at play. This shift,
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Family offices, once primarily reliant on private equity funds for investment opportunities, are undergoing a significant transformation in their approach to wealth management. A recent survey conducted by Bastiat Partners and Kharis Capital reveals a notable trend: half of the family offices surveyed are planning to engage in direct investments in private companies over the
In the current political climate of the United States, an increasing number of affluent Americans are contemplating or actively pursuing options to relocate abroad. This shift is not merely a fleeting thought; it reflects a substantive trend exacerbated by the uncertainty surrounding the upcoming electoral cycle. According to immigration attorneys and advisors serving high-net-worth individuals,
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
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