The ultra-wealthy population in China, individuals with a net worth of at least $30 million, is projected to grow by almost 50% in the coming years. Despite facing economic headwinds and slowing growth, where are these wealthy individuals choosing to park their wealth? Currently, wealthy Chinese individuals are taking a more “conservative” approach to investments,
Wealth
Recently, the United Kingdom is facing a looming crisis as a record number of millionaires are anticipated to leave the country in the upcoming year. Research indicates that the general election scheduled for this year is predicted to exacerbate this exodus. The Henley Private Wealth Migration Report revealed that the UK is set to experience
The iconic British luxury fashion house Burberry Group recently experienced a significant setback as it dropped out of the U.K.’s prestigious FTSE 100 stock market index. This move came after a period of waning sales, management changes, and overall challenges faced by the 168-year-old retailer. The company’s share price has plummeted by over 53% in
In the annals of financial history, few milestones are as remarkable as the ascension of individuals to billion-dollar net worth figures. The term “billionaire” first graced the public lexicon in the early 20th century, with John D. Rockefeller emerging as the first when Standard Oil’s shares soared to astronomical levels in 1916. More than a
Sports team owners are currently facing a myriad of challenges when it comes to succession planning and dealing with taxes. The average age of team owners is on the rise, while team values are skyrocketing into the billions. This combination is intensifying the focus on how to ensure smooth ownership transitions to the next generation
The number of crypto millionaires in the world has skyrocketed by an impressive 95% over the past year, as reported by New World Wealth and Henley & Partners. Currently, there are 172,300 individuals globally who hold more than $1 million in crypto assets, a significant increase from 88,200 millionaires the previous year. Moreover, the number
In recent years, the classic car market has been experiencing significant changes in terms of sales trends and buyer preferences. A recent report from Hagerty, the classic-car insurance company, revealed that auction sales during Monterey Car Week fell by 3% compared to the previous year. This decline comes as a result of a shift from
Luxury tycoon Bernard Arnault, founder and CEO of LVMH, one of the largest luxury goods conglomerates in the world, is making waves in the tech industry with his recent investments in artificial intelligence companies. Despite his immense wealth and success in the luxury market, Arnault has set his sights on the future of AI technology