As the UK government gears up for its next budget announcement, an urgent conversation regarding the future of the non-domiciliary (non-dom) tax status is gathering momentum among the nation’s wealthiest residents. There is a palpable tension in the air, intensified by proposed measures from the Labour Party aimed at abolishing this controversial tax loophole. Non-doms,
Wealth
The transformation in wealth dynamics over the past decade has been notable, particularly in the realm of female billionaires. According to the Altrata Billionaire Census, women now represent approximately 13% of the world’s 3,323 billionaires, totaling 431 individuals. While this percentage may appear modest, it signifies a significant shift and an emerging presence within a
The recent auction of Maurizio Cattelan’s provocative piece, “Comedian,” has brought the worlds of contemporary art and cryptocurrency to the forefront of public discourse. The sale, which saw crypto investor Justin Sun paying a staggering $6.2 million for a banana duct-taped to a wall, exemplifies the modern marriage of art, culture, and digital currency. This
The global art market stands at an intriguing yet concerning crossroads as it grapples with declining interest and investment often attributed to changing consumer preferences among high-net-worth individuals. According to recent insights derived from the Art Basel and UBS Survey of Global Collecting, auction sales for the first half of the year at prestigious houses
The investment landscape for startups is experiencing a notable transformation, particularly through the involvement of family offices—the private investment entities controlled by wealthy families. An analysis conducted by CNBC in collaboration with Fintrx, a private wealth intelligence platform, has brought to light the top family offices that actively participated in startup investments in 2024. This
Burberry, an iconic British luxury fashion house, has long been synonymous with high-quality outerwear and distinctive design, particularly its famous trench coats and classic check patterns. Yet, in recent years, the brand has faced significant turmoil. A notable decline in its stock price—down nearly 39% year-to-date—highlights a pressing need for transformation within the company. As
For the first time in over a decade, the personal luxury goods market is experiencing noticeable deterioration, signaling an alarming shift in consumer behavior. As reported by Bain & Company, the convergence of macroeconomic uncertainties and weakening demand, particularly from China, leads to projections of diminished spending in the luxury sector. Items traditionally associated with
In recent years, family offices, which serve as in-house investment managers for high-net-worth families, have begun to redefine their approach to investing. The advent of more discerning market conditions and the desire for increased autonomy are prompting these entities to engage in direct investments, bypassing the traditional route of private equity funds. A survey conducted
In the days leading up to significant political events, it’s not uncommon to hear discussions about individuals seeking refuge or opportunities abroad. However, a recent surge of interest among affluent Americans in obtaining second passports or long-term residencies abroad indicates a marked change in sentiment and urgency. Immigration attorneys and advisors specializing in the needs
In recent years, a transformative shift has occurred within the realm of charitable giving, predominantly influenced by the perspectives of wealthy millennials and Generation Z. Unlike previous generations, this cohort perceives their philanthropic efforts through the lens of activism rather than merely financial contribution. This evolution in mindset, as highlighted by insights from Bank of