In an era of surging home and stock values, U.S. family wealth has soared. The trillions of dollars going to heirs will largely reinforce inequality.
Category: High Net Worth Individuals
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In China, It’s Time to Splurge Again, and the Luxury Industry Is Relieved
The end of pandemic-era restrictions has unleashed a luxury spending rebound in China. Which Western brands are coming out on top?
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In an Unsteady Banking Industry, First Republic’s Problems Stood Out
The bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank in March.
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What I Learned Dogsitting for New York City’s Opulent Elite
In a city of yawning class inequality, some side hustles let you glimpse how the other half lives.
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French Business Titans Top Forbes’s Richest List
Two French business titans, Bernard Arnault of the LVMH empire and Françoise Bettencourt-Meyers of L’Oréal, are named the world’s wealthiest man and woman.
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Biden’s $6.8 Trillion Budget Proposes New Social Programs and Higher Taxes
The president proposed trillions of dollars in new spending that has no chance of passing a Republican House, even as he sought to reduce deficits by raising taxes on business and the rich
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Why Companies Are Pushing Premium Products With Higher Prices
Companies are trying to maintain fat profits as the economy changes, making “premiumization” their new favorite buzzword.
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Elizabeth Koch Knows What You’re Thinking
The daughter of Charles Koch, the billionaire right-wing political force, has a new venture that is all about self-investigation. Two words: Perception Box.
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Red McCombs, Car Salesman Turned Media Mogul, Dies at 95
A Texas entrepreneur, he co-founded the media giant Clear Channel, owned pro sports teams and created more than 400 businesses in a variety of industries.
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Hedge Fund Billionaire Gets Billions More to Retire
Bridgewater’s founder, Ray Dalio, retired last year after months of negotiations that guaranteed him a gigantic exit package.