Wealth

The U.S. Department of Justice charged 50 people last month in a multi-million-dollar scheme that allowed rich parents to cheat the college admissions system. By faking standardized test scores and bribing athletics officials, those parents managed to get their kids into elite schools like Georgetown, Stanford, Yale, and USC. But what if you don’t want
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Billionaire Warren Buffett said Thursday that economic growth has lost some steam recently. “It does look like the pace of increase in the economy has slowed down,” the chairman and CEO of Berkshire Hathaway told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas. “I’d call it somewhere close to
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Yale University has rescinded the admission of a student linked to the national college admissions scandal that implicated 50 people, including celebrities, coaches and administrators, in paying and accepting bribes to get students into elite colleges. Thomas Conroy, Yale University spokesman, told CNBC the university “has rescinded the admission of one student as a result
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Have tech companies gotten so big that it’s bad for the economy? Senator Elizabeth Warren says so. She’s proposing to break up not one, but several tech giants, including Amazon, Apple, Facebook and Google. She says they shouldn’t be allowed to both run distributor platforms and compete on them. It’s like being an umpire and
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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,
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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
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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
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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
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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
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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,
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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
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