Wealth

Billionaire Li Ka-shing announced his retirement Friday from the business empire he built over nearly seven decades. Li, 89, will step down as chairman of Hong Kong conglomerate CK Hutchison and property giant CK Asset after the annual general meeting on May 10, the tycoon said. He said he will continue to serve as senior
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David grew up with vast privilege but lived the family’s mantra that “to whom much is given, much is expected.” As a kid, he recalled roller skating to school up Fifth Avenue, followed by the family limousine. He gave more than $1 billion to charity during his lifetime. In signing the Gates-Buffett “Giving Pledge,” David
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The program was launched in 2009 and has undergone various iterations. Since its inception, more than 56,000 taxpayers have come forward to report overseas accounts they previously had not disclosed. While most of those taxpayers have avoided substantial fines and criminal charges by reporting their foreign holdings, they have paid $11.1 billion collectively in back
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The report highlights how global growth has lifted the fortunes of the wealthy and hiked luxury real estate prices in the top cities. “2017 was a year when the economic stars aligned and relatively healthy growth was seen across most markets,” the report said. Indeed, almost all of the cities have become more expensive over
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Cryptocurrencies have attracted investments from the ultra-rich around the world even though they may lack sufficient understanding of the technology behind the asset class. Around 21 percent of respondents in an annual survey of wealth advisers and private bankers said their clients increased investments in cryptocurrencies in 2017, according to the latest Wealth Report by
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Members of China’s billionaire-studded ceremonial legislature are even richer than last year. It’s all the more remarkable considering the number of super rich lawmakers dropped by about a quarter, according to wealth compiler Hurun Report, China’s version of the Forbes rich list. Hurun’s report released Friday found 152 super-wealthy delegates to the National People’s Congress
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Altogether, the “Everyone Wins” gift bags are valued at over “six-figures” although Distinctive Assets declined to say exactly how much (however, the trip for two to Tanzania is worth $40,000 alone, the company said). They are sent to all 25 Oscar nominees in the acting and directing categories in the week leading up to the
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After winning the presidency in 1999, leftist President Hugo Chavez was proud of improving Venezuela‘s social indicators due to oil-fueled welfare policies. But his successor President Nicolas Maduro’s rule since 2013 has coincided with a deep recession, due to failed state-led economic policies and the plunge in global oil prices. Wednesday’s study flagged Venezuelans’ deteriorating
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Public school superintendents listen up. Abington High School, outside Philadelphia, just got one of its former students, billionaire private equity titan and philanthropist Steve Schwarzman, to donate $25 million. How did the school do it? Schwarzman, co-founder of Blackstone Group, told CNBC on Thursday: “I was asked. That’s always the way something happens.” “It starts
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