Billionaire Robert Smith said young Americans need a better understanding and appreciation of capitalism, as wealth and success come under attack on the Democratic campaign trail. “This country needs to make sure that our young people understand the importance of capitalism,” he told CNBC. Smith was in New York to celebrate the IPO of Ping

Like vast wealth, the view from the 123rd floor of the tallest apartment building in the world can quickly warp your perspective on life. At nearly 1,400 feet, looking down on the Empire State Building, you aren’t just above New York City — you lord over it. Cars become toys and people become dots. Central Park

Bill Gates Chesnot/Getty Images Bill Gates is not taking a defensive approach with his billions of dollars of wealth. The founder of Microsoft added $16 billion to his net worth this year, despite giving away over $35 billion to charity, according to Bloomberg. That brings Gates’ total wealth to $106 billion, the second largest fortune

Ms. Monopoly game. Source: Hasbro The typical 8-year-old probably doesn’t know much about the gender pay gap. Now the topic could come up if she or he plays the new game, Ms. Monopoly. Some critics are skeptical, however, of how helpful those conversations will be. Toymaker Hasbro announced this week the rollout of the board

Apple‘s iPhone extravaganza is still the biggest product event of the year for a simple reason: The iPhone remains the single most successful hardware product of the PC era. So what happened this week? Three new iPhones were announced: The iPhone 11, 11 Pro and 11 Pro Max. A new Apple Watch with a screen

French economist Thomas Piketty poses during a photo session in Paris on September 10, 2019. Joel Sagat | AFP | Getty Images A popular French economist says billionaires are harmful to economic growth and would be effectively abolished under his tax plan, according to an interview. Thomas Piketty, whose 2013 book on inequality, “Capital in

T. Boone Pickens, the wildcatter “Oracle of Oil,” hedge fund founder and philanthropist who rewrote the playbook for corporate raiders, has died. He was 91. He died Wednesday of natural causes. Pickens had been in declining health, suffering from a series of strokes and a serious fall in 2017. In late 2017, he put his

Lamborghini Sián FKP 37 Source: Lamborghini Fans of the famous flux capacitor in the 1985 movie “Back to the Future” will love the new Lamborghini. The Italian automaker unveiled its fastest car ever Tuesday morning at the Frankfurt Motor Show — a geometric fantasy of speed and engineering called the Sian FKP 37. It is

There’s luxury travel and then there’s super-luxury travel. And by any measure, touring the world on a specially outfitted private jet with 15 to 50 like-minded passengers, all on the same financial playing field, falls into the “ultra-luxe” category. For well-to-do, worldly travelers with destinations and experiences still on their bucket lists, joining a private

As U.S. colleges and universities brace for a drop in high-paying Chinese students this fall, one university has discovered a potential hedge: insurance. The University of Illinois’s Gies College of Business and its Grainer College of Engineering took out an insurance policy two years ago to protect the schools from a possible drop in revenue

Lamborghini Sián Source: Lamborghini Ahead of its official Frankfurt Auto show debut, Lamborghini has revealed the Sian, the Italian supercar maker’s first hybrid vehicle. Sian means flash of lightning in the Sant’Agata automaker’s Bolognese Italian dialect — an apt name for a car that’s also the company’s most powerful creation. The Sian’s heart is the

PeopleImages | DigitalVision | Getty Images Students and their families are grappling with the cost of higher education, but here’s one expense that might be a surprise: health care. The default option for many college students — especially if they’re under age 26 — might be to remain on Mom and Dad’s insurance, yet that

Bugatti Chiron Source: Bugatti Bugatti became the first carmaker to top 300 mph, when a modified version of its hypercar hit 304.77 mph. A Bugatti Chiron, adapted for higher speeds and driven by Andy Wallace, hit the top speed on Volkswagen‘s Ehra-Lessien test track in Germany on Aug. 2. It is the first supercar to

If you’re heading out on an end-of-summer road trip this Labor Day, you might find yourself spending less on fuel and more on food and fun. That’s thanks to what may be the lowest average nationwide gasoline rates for this holiday weekend in three years, according to AAA. Today’s average price of just more than

An Automobili Lamborghini SpA Aventador vehicle sits on display during the Gallery event at the MGM Grand Detroit ahead of the 2019 North American International Auto Show in Detroit, Jan. 12, 2019. Daniel Acker | Bloomberg | Getty Images The rich have cut their spending on everything from homes to jewelry, sparking fears of a

The Chartwell Estate Photograph by Jim Bartsch, courtesy of the Estate of Jerry Perenchio This elegant French chateau-style estate in Los Angeles’ Bel Air neighborhood recently got a $50 million price chop but is still the most expensive residence for sale in America. CNBC got an exclusive look inside the $195 million mega home. The

RIYADH, Saudi Arabia — Crown Prince Mohammad bin Salman hopes to see tourism contribute 10% of Saudi Arabia’s gross domestic product by 2030 — and the country plans to tap everything from a 2,000-year-old UNESCO heritage site to the “the longest, tallest and fastest roller coaster in the world” to make it happen. Next month,

In the early 2000s, professional poker reached new heights in popularity. Between ESPN, the 1998 movie “Rounders,” and Chris Moneymaker’s out-of-nowhere win at the 2003 World Series of Poker, the lure of turning professional and earning millions brought many to Las Vegas. Poker, however, is a game where players can go long periods without a

David Koch, the billionaire, industrialist, philanthropist, political activist and onetime vice presidential candidate for the Libertarian Party, died Friday. He was 79. “It is with a heavy heart that I announce the passing of my brother David,” Charles Koch announced in a statement. “Anyone who worked with David surely experienced his giant personality and passion

Despite recent market swings, some retirement savers are feeling pretty comfortable these days. The number of Fidelity 401(k) plans with a balance of $1 million or more jumped to a record 196,000 as of June 30, up 17% from 168,000 last year, according to a new report by Fidelity, the nation’s largest provider of 401(k)

Ted Jenkin (left), CEO of oXYGen Financial, with children Lyla, Louden and Olivia and wife Genna Jenkin. Ted Jenkin It’s official: Apparently, you can go home again. A recent TD Ameritrade survey found that 50% of “young millennials” plan to move back home with their parents after college. The survey polled 1,027 members of Generation

Attendees and judges gather around a 1966 Ferrari 330 P4 Drogo Spyder motor vehicle during the 2016 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 21, 2016. David Paul Morris | Bloomberg | Getty Images Routinely described as the world’s most popular, elegant and exclusive classic car show, the annual Pebble

At age 22, with no formal fashion education Claudia Lambeth took a giant leap and started a one-of-a-kind luxury lingerie line while she was in law school. With just a little seed money she inherited from her grandfather, Lambeth was able to purchase fabrics and other materials she needed to build her first bra and

The Hennessey Venom F5 concept vehicle is displayed during the 2018 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 26, 2018. David Paul Morris | Bloomberg | Getty Images For classic car fans, there’s only one place to be this week: California’s Monterey Peninsula, where more than a dozen events offer

One of the most famous movie cars of all time – James Bond’s Aston Martin DB5 – sold at auction Thursday night for $6.4 million. The car, one of just three surviving examples commissioned by Eon Productions for the early Bond films and fitted with all the M16Q Branch gadgets, was sold by RM Sotheby’s

The Hennessey Venom F5 concept vehicle is displayed during the 2018 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 26, 2018. David Paul Morris | Bloomberg | Getty Images Thousands of classic car fans are rolling onto California’s Monterey Peninsula for what has become one of the year’s most eagerly awaited

1939 Porsche Type 64 Source: RM Sotheby’s This weekend, a sleek, vintage car that’s being called “the world’s first Porsche” heads to the auction block with an estimated price tag of over $20 million. There is just one problem: Porsche says the 1939 Porsche Type 64 isn’t the first Porsche ever made. To purests, it

Jeffrey Epstein was worth an estimated $559 million, yet may have paid little in the way of personal income taxes. The now-deceased financier, accused of sexually assaulting and trafficking girls as young as 14, had more than $179 million in assets from real estate, including a New Mexico ranch, a home in Palm Beach, a

It is the Coachella of classic cars, the Woodstock for wealthy wheel-freaks. It’s Monterey Car Week, which includes the Concours D’Elegance car awards show and runs though Sunday. It’s six days of parties, road tours, product announcements and vintage races focused on the rarest and most expensive cars in the world. But for the wealthy

Bugatti’s La Voiture Noire Source: Bugatti 2019. The world’s most expensive new car makes its North American debut this week at the world’s premier luxury auto show, the Pebble Beach Concours D’Elegance, which kicks off Tuesday in Monterey, California. Bugatti debuted its one-of-a-kind $18.68 million La Voiture Noire, which translates to The Black Car, at