Recent research indicates that the United Kingdom is expected to experience a significant departure of millionaires this year, with the general election further contributing to this exodus. The Henley Private Wealth Migration Report forecasts a net loss of 9,500 high-net-worth individuals in 2024, more than double the previous year’s figure. This represents a stark shift
Wealth
In a significant turn of events, Burberry Group, the iconic British luxury fashion house, has been removed from the prestigious U.K.’s FTSE 100 stock market index. This decision comes after a series of setbacks for the 168-year-old retailer, including declining sales and a string of management changes. The company’s relegation to the FTSE 250 marks
Back in 1916, the world witnessed the rise of the first billionaire, John D. Rockefeller, thanks to the soaring share price of Standard Oil. This landmark event was once thought to be unattainable, marking the beginning of a new era in the world of extreme wealth. The Trillionaire Speculation Fast forward to the present day,
In the world of professional sports, team ownership has become a lucrative investment with soaring team values reaching into the billions. However, with the average age of team owners rising, new challenges around estate planning and taxes have emerged. The focus has shifted towards ensuring smooth ownership transitions to the next generation of buyers. The
The world has witnessed a staggering increase in the population of crypto millionaires, with a 95% surge over the past year. According to a report from New World Wealth and Henley & Partners, there are currently 172,300 individuals worldwide holding more than $1 million in crypto assets, a significant increase from the 88,200 reported last
Auction sales during Monterey Car Week saw a 3% decrease from the previous year, largely attributed to a shift in preference towards newer cars. This shift has resulted in a surplus of unsold classic cars from the 1950s and 1960s. Total sales at the five main auctioneers in Monterey, including RM Sotheby’s, Broad Arrow, Gooding
The world-renowned luxury king, Bernard Arnault, founder and CEO of LVMH, has not only conquered the world of high-end fashion and exclusive brands, but he is also making a significant impact in the artificial intelligence (AI) industry. With a net worth of $184 billion, Arnault has been on a shopping spree for AI companies through
The private jet industry has been facing significant challenges, with a 15% decline in private jet flights during the first half of the year compared to their peak in 2022. This drop can be attributed to waning demand and a changing competitive landscape for high-end travel. Despite a temporary increase in private jet flights during
The ongoing Murdoch family feud unfolding in a Nevada court has shone a spotlight on the state’s emergence as a hub for family trusts and a sanctuary for the world’s wealthiest individuals. Nevada is now recognized as the leading state in the U.S. for asset-protection trusts, thanks to its attractive combination of no income taxes,
It seems that wealthy investors and family offices have been making a significant shift from stocks to private markets in recent times. This transition has been attributed to concerns about an overheated tech sector and a desire for more stability. According to a UBS family office survey, family offices now have 35% of their portfolios