In the complex landscape of British tax policy, the ongoing debate around the status of non-domiciled residents—commonly known as non-doms—has garnered significant attention. Amid looming governmental budget changes, a growing clamor from Britain’s elite is urging a reevaluation of the tax structure that impacts the ultra-rich living in the U.K. A coalition known as Foreign
Wealth
In recent years, a notable transformation has been taking place in the world of wealth accumulation—more women are entering the exclusive ranks of billionaires. This evolution is not just quantitative; it also represents a shift in priorities, investment strategies, and philanthropic endeavors. As of the latest reports, women account for 13% of the world’s billionaires,
In the ever-evolving landscape of contemporary art, one event has sparked both fascination and debate: the sale of a banana duct-taped to a wall for a staggering $6.2 million. This audacious piece, aptly named “Comedian,” was created by Maurizio Cattelan, an artist renowned for his provocative works that often challenge societal norms. At the heart
The global art market is navigating turbulent waters, facing its second consecutive year of declines. A recent report highlights that the appetite for high-value pieces is diminishing while newer collectors gain traction for more accessible artworks. Christie’s, Sotheby’s, Phillips, and Bonhams have all reported a significant drop in auction sales, plummeting 26% from the previous
Family offices, the private investment entities of affluent households, are increasingly emerging as pivotal players in the venture capital landscape. With their appetite for high-growth startups spanning various sectors, they are shaping the investment ecosystem significantly. Recent analyses suggest that these family offices are engaging in a plethora of investments, reflecting an adaptive approach to
In a decisive move to rescue its brand image and financial performance, Burberry has unveiled an ambitious strategic plan, “Burberry Forward”. This initiative reflects a clear intent to return to the luxury house’s roots by emphasizing its signature designs, particularly its iconic outerwear and classic scarves. Facing significant challenges in sales and brand perception, Burberry’s
The luxury goods market is poised to experience its first contraction since the aftermath of the Global Financial Crisis, according to insights from Bain & Company’s latest annual luxury report. As we head into 2024, macroeconomic uncertainty, notably fueled by a significantly cooled consumer spending landscape in China, emerges as a primary driver of this
Family offices have long served as the custodians of wealth for high-net-worth individuals and families, overseeing their investments and guiding financial strategies. Traditionally dependent on private equity funds, these entities are experiencing a transformative shift in investment strategy. According to a comprehensive survey conducted by Bastiat Partners and Kharis Capital, around half of family offices