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
Wealth
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
One of the most significant challenges facing the private jet industry is the decrease in demand for private jet flights. According to recent data, private jet flights fell by 15% in the first half of the year compared to their peak in 2022. This decline is attributed to waning demand and a new competitive landscape
In a little-known Nevada court, the Murdoch family feud has shed light on Nevada’s growing popularity as a hub for family trusts and a safe haven for the world’s wealthiest individuals. Legal industry rankings have shown that Nevada has become the top state in the country for asset-protection trusts, such as the one at the
The article discusses how wealthy investors and family offices have been reducing their stock holdings over the past year in favor of private markets due to concerns about an overheated tech sector. Although the move away from equities seemed prudent, it raises questions about the diversification of their portfolios. While private equity may offer higher