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
Wealth
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
Dolce and Gabbana’s recent release of a luxury perfume for dogs has raised some eyebrows within the animal welfare community. Priced at over $100, the fragrance mist named Fefé is specifically designed for dogs and draws inspiration from the fashion house owner’s own pet. The perfume boasts a blend of “fresh and delicate notes of
India is projected to experience the most rapid expansion in ultra high net worth individuals worldwide over the coming years, according to consultancy Knight Frank. This comes as no surprise given the surge in India’s ultra-wealthy population, with a net worth exceeding $30 million, which increased by 6.1% to 13,263 individuals in 2023. The ultra-wealthy
In recent years, Jeff Bezos, the founder and executive chairman of Amazon, has been making waves not only with his extravagant purchases but also with his strategic investments in artificial intelligence. While his multi-million dollar properties and luxury yacht garner attention, Bezos’ family office, Bezos Expeditions, has been quietly pouring funds into AI companies. According