Paul Archuleta | FilmMagic | Getty Images Actress Lori Loughlin (C) and her daughters Isabella Rose (L) and Olivia Jade Giannulli (R) attend the Hallmark Channel And Hallmark Movies And Mysteries 2017 Summer TCA Tour at on July 27, 2017 in Beverly Hills, California. “USC has placed holds on the accounts of students who may

Whether the winner takes their prize as an annuity spread out over three decades or as an immediate reduced lump sum, lottery officials are required to withhold 24 percent for federal taxes. However, the top federal tax rate of 37 percent means the winner would owe a lot more at tax time. For Wednesday night’s

The far-left policy proposals from freshman firebrand Rep. Alexandria Ocasio-Cortez and some of the candidates seeking the 2020 Democratic presidential nomination are wrong for America, former House Majority Leader Eric Cantor told CNBC on Friday. “I worry as an American about the direction of one of our two major parties going toward socialist,” said Cantor,

Caplan, whose New York-based law firm has 700 lawyers in 10 offices in six countries, allegedly paid $75,000 to have his daughter’s test score changed. He was released on Tuesday on a $500,000 bond. “I’m not worried about the moral issue here,” Caplan said during a phone call that was cited in the indictment. “I’m

Also part of the widespread scandal was indicted parents who used several means to helps their children do better on SAT and ACT standardized exams. These parents paid between $15,000 and $75,000 per test to the exam administrators who gave students answers, corrected their work or let others pose as the students to take the

The founder and CEO at tech venture capital firm Dragon Global is one of 40 people charged in a $25 million college entrance cheating scheme. The criminal complaint includes a bunch of business executives and two high-profile actresses that allegedly used their wealth and influence to get their children admitted into top colleges, law enforcement

Mossimo Giannulli, 55, of Los Angeles, fashion designer. Elizabeth Henriquez, 56, of Atherton, Calif. Manuel Henriquez, 55, of Atherton, Calif., founder, chairman and CEO of Hercules Technology Growth Capital. Douglas Hodge, 61, of Laguna Beach, Calif., former CEO of Pimco investment management company. Felicity Huffman, 56, of Los Angeles, actress. Agustin Huneeus Jr., 53, of

You’ve probably heard of “Fortnite.” It’s a game and more than a game – a cultural moment that’s swept in with all the force of “Pokemon Go,” and arguably more of the staying power. There’s the game itself, but there are the dances and the addictions. Now, here’s a twist: “Fortnite” has competition. Electronic Arts

ERARD JULIEN | AFP | Getty Images A photo taken on May 26, 2013 shows former president of the Olympique de Marseille Bernard Tapie attending the festivities marking the anniversary of Olympique de Marseille football club’s 1993 UEFA Champions League title at the Velodrome stadium in Marseille, southeastern France. French tycoon Bernard Tapie is facing

Patrick T. Fallon | Bloomberg | Getty Images Priscilla Chan, co-founder of the Chan Zuckerberg Initiative Priscilla Chan, who co-founded the Chan Zuckerberg Initiative with her husband, Facebook CEO Mark Zuckerberg, is supporting higher taxes for the wealthy. “For people who can afford it, paying higher taxes is not a bad thing,” Chan said Friday

New York’s tax department declined to comment on its specific audit strategies or numbers. A spokesman said “ensuring taxpayers pay their fair share is a top priority. Our nonresident audit program continues to be very active.” Yet tax advisers and lawyers to the wealthy say the state is going to ever-greater lengths to ensure that

The U.S. should increase taxes on the wealthy as the disparity between the rich and poor has reached extreme levels, investor Jeremy Grantham said Thursday. “I arrived in 1964, and America was a fairly equal place with fairly rapid mobility between socioeconomic classes,” Grantham, an investor who manages more than $100 billion in assets at

Asia is already the world’s top region for billionaires. It’s set to extend that lead even more in coming years. A report released on Wednesday found that the number of billionaires in Asia is set to rise above 1,000 in the next five years. By 2023, the world’s billionaire population is expected to reach 2,696

Sam Zell, a billionaire businessman and philanthropist, believes the wealth redistribution ideas of far-left Democrats, such as freshman firebrand Rep. Alexandria Ocasio-Cortez, won’t work because Americans would rather earn success than get handouts. “Everyone in America wants to be rich. Everybody in America wants to succeed,” Zell told CNBC on Wednesday. “That’s, by the way,

With no one hitting all the numbers in Saturday night’s Powerball drawing, the jackpot has surged again. Now at an estimated $381 million, the top prize has been rolling higher for more than two months. (The winning numbers in Saturday night’s drawing were: 1, 19, 25, 27, 68; Powerball: 21.) Meanwhile, a single ticket sold

Despite gains in income and wealth for black families in America, white families often have a net worth up to 10 times higher. Discriminatory financial practices such as redlining or credit discrimination have increased the wealth gap and held black families back from being able to create generational wealth. Times are changing. Black millennials are

There’s little question that technology is shaping the future of our work, our play and even how we form opinions. But who is shaping that technology? It’s been quite an economic run. The stock market has been climbing for a decade, and in that time, tech companies like Apple, Alphabet, Amazon and Facebook have gone

As much as he likes stocks, Buffett said the last eight years or so have been a tough environment for active investors to beat the S&P 500 index. In fact, he told CNBC that Berkshire investment managers Ted Weschler and Todd Combs have trailed the S&P 500 by a “tiny bit” since each joined the

Leon Neal | Getty Images The Bank of America Merrill Lynch offices in the financial district, also known as the Square Mile, on January 24, 2017 in London, England. Two of the most vaunted names in banking are fading into retirement. Bank of America is expected to announce Monday that it will gradually retire the

Billionaire Warren Buffett said Monday wealthy Americans are not paying enough taxes. “The wealthy are definitely undertaxed relative to the general population,” Buffett told CNBC’s Becky Quick during a “Squawk Box” interview. “As we get more specialized, the rich will get richer. The question is: How do you take care of a guy who is

Robert Kraft, the billionaire owner of the Super Bowl champion New England Patriots, has been charged with soliciting prostitution at a spa in Florida, where surveillance video showed him receiving sexual services, police said Friday. The 77-year-old Kraft is among more than two dozen people accused in a police sting as part of a human

Franziska Krug | Getty Images Entertainment | Getty Images Karl Lagerfeld attends the ‘Corsa Karl Und Choupette’ Vernissage on February 03, 2015 Karl Lagerfeld’s cat Choupette is reportedly set to inherit some of the Chanel designer’s estimated $195 million fortune. Chanel confirmed on Tuesday that Lagerfeld, who had been the fashion house’s creative director since

Everyday Americans are being left behind because of President Donald Trump‘s tax cuts — and one solution could be to tax the rich, civil rights leader and two-time presidential candidate Jesse Jackson Sr. told CNBC on Wednesday. “There must be some kind of wealth tax,” the president and founder of the Rainbow PUSH Coalition said

So long, New York! Amazon has pulled out of its commitment to build a massive campus and bring 25,000 to 40,000 high-paying jobs to Long Island City in Queens. On Valentines Day! What went wrong? Why the breakup? Some critics were mad that New York offered $3 billion in tax incentives to lure Amazon in

David Paul Morris | Bloomberg | Getty Images Exhibitors ride in a 1922 Hispano Suiza H6B Chapron Splendid Landaulet motor vehicle during the 2016 Pebble Beach Concours d’Elegance in Pebble Beach, California, on Sunday, Aug. 21, 2016. But it will be back at the Geneva Motor Show in the form of the all-terrain concept. Though

Catherine Ivill/Getty Images Kevin De Bruyne of Manchester City celebrates during the Premier League match between West Ham United and Manchester City at London Stadium on April 29, 2018 in London, England. English Premier League leaders Manchester City has a squad valued at over $1 billion and is still on course for an unprecedented quadruple

“We were walking to the plane on the runway,” he said. “And while we were walking a gentleman next to me turned to the pilot and said ‘I’m carrying.’ I kind of deduced, you know, that he has a gun.” Valenti said the passenger voluntarily turned the gun over to the pilot, who kept it

The call to increase taxes on the wealthy has been gaining steam — but that isn’t enough to stop to the growing wealth and income gap in America, Democratic former Sen. Heidi Heitkamp told CNBC on Monday. “How do we close that gap and make America’s economy and capitalism work for everyone, including working people

Facebook is worth almost a half trillion dollars. It has more than 2 billion users who log in at least once a month. It has a famous CEO, Mark Zuckerberg, hailed in Silicon Valley as a Bill Gates for the Internet age – the suburban Harvard kid who dropped out of college to start a

Chris Hughes, co-founder of Facebook and an advocate for wealth equality, told CNBC on Monday that he and other ultrawealthy Americans should be paying higher taxes to help make life better for everyone in society. “We have a free-rider problem. The top 1-percent — and even more specifically the top 0.1-percent, those with household wealth