Wealth

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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Women, in particular, are making significant strides when it comes to savings. The percentage of female 401(k) millionaires doubled in the past dozen years, Fidelity found, climbing to 20 percent in 2017 from 10 percent in 2005. Nearly 3 in 10 savers increased their contribution rate over the last year, Fidelity said. The average 401(k)
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The U.S. added more than 400,000 new millionaires last year, with most of those concentrated on the coasts in high-tax, predominantly blue states. According to the Phoenix Wealth and Affluent Monitor, by Phoenix Marketing International, there were a total of 7.2 million millionaire households in 2017 — up 6 percent from 2016. Phoenix defines millionaire
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In statements issued around the Journal report, Wynn denied he had ever assaulted anyone, and his company said the newspaper report reflected allegations made in court by his ex-wife “in her legal battle with him and the company.” Still, Wynn Resorts formed a special committee to investigate the allegations, according to a board statement. In
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America’s 50 largest charitable donors gave away $14.7 billion last year, with Bill and Melinda Gates leading the list with a $4.8 billion donation to their foundation, according to a new report. Giving by the top 50 donors more than doubled in 2017, soaring to $14.7 billion from $5.6 billion in 2016, according to the
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In the November crackdown, the Saudi government arrested and detained several hundred businessmen, senior officials and Saudi royals like Alwaleed, many within the Ritz-Carlton hotel. Multiple reports, citing anonymous sources, have suggested that detainees handed over assets in order to buy their freedom. Alwaleed, the billionaire owner of international investment company Kingdom Holding, told Reuters
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AFP | Getty Images Wang Fuman, also known as ‘Frost Boy’, walks on the road in Ludian in China’s southwestern Yunnan province on January 12, 2018. At an event organized by his charitable foundation on Sunday, Ma told a room of 80 entrepreneurs that establishing a network of boarding schools would improve education standards and
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Source: Gooding & Co. A 1965 Ferrari 275 GTB Speciale Coupe, auctioned by Gooding & Company, sold for more than $8 million. What’s more, a provision in the new tax law that prevents “value-in-kind exchanges” for cars has crimped sales at the top. Previously, collectors were allowed to sell one car and buy another of
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Swiss bank UBS said Monday that President Donald Trump deserves praise for his pro-growth policies. Those efforts in making the U.S. a more business-friendly economy, which include the recently passed tax reform, are often under-appreciated, said Mike Ryan, UBS Wealth Management’s chief investment officer for Americas. But the president has “changed the perception of what’s
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Amazon CEO Jeff Bezos donated $33 million in college scholarships for “dreamers” — childhood undocumented immigrants granted stay in the country under the Obama-era Deferred Action for Childhood Arrivals program. TheDream.Us, a nonprofit working toward college access for undocumented immigrants, said the donation from Bezos and his wife MacKenzie is the largest in the organization’s
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