New York State lawmakers’ proposed budget called for higher taxes on the ultrawealthy, parking permits for city residents and retention of the state’s bail laws.
Tag Archives: High Net Worth Individuals
Budget Wars: This Time Is Different
Biden is making sense. Republicans aren’t.
Biden’s $6.8 Trillion Budget Proposes New Social Programs and Higher Taxes
The president proposed trillions of dollars in new spending that has no chance of passing a Republican House, even as he sought to reduce deficits by raising taxes on business and the rich
Why Companies Are Pushing Premium Products With Higher Prices
Companies are trying to maintain fat profits as the economy changes, making “premiumization” their new favorite buzzword.
G.O.P. Donors in New York Await a Parade of Presidential Hopefuls
Donald Trump’s support in the city’s wealthy political circles is waning, as 2024 rivals and potential candidates, including Nikki Haley and Mike Pence, make the rounds.
Elizabeth Koch Knows What You’re Thinking
The daughter of Charles Koch, the billionaire right-wing political force, has a new venture that is all about self-investigation. Two words: Perception Box.
Hedge Fund Billionaire Gets Billions More to Retire
Bridgewater’s founder, Ray Dalio, retired last year after months of negotiations that guaranteed him a gigantic exit package.
Koch Network, Aiming to ‘Turn the Page’ on Trump, Will Play in the G.O.P. Primaries
The move by the alliance of conservative donors could provide an enormous boost to a Republican alternative to the former president.
Gautam Adani’s Rise Was Intertwined With India’s. Now It’s Unraveling.
The tycoon often said the Adani Group’s goals were in lock step with India’s needs. Now, the company’s fortunes are crashing, a collapse whose pain will be felt across the country.
Gawker Is Dead (Again) But Its Influence Lives On
It started with smirk and it ended with a bang, and in between it changed the media universe.
As Parisians March to Fight Pension Changes, Shopkeepers Nod and Agree
Angry protests over a plan to raise France’s retirement age pile uncertainty on small businesses, but most are siding with the demonstrators.
Gautam Adani Lost $36 Billion in Days. Who Is He, and What Happened?
Gautam Adani is facing perhaps his biggest challenge yet as a small U.S. investment firm accuses his Indian conglomerate of fraud and stock manipulation.
Entrepreneurs Flee China’s Heavy Hand: ‘You Don’t Have to Stay There’
Weary of crackdowns and lockdowns, businesspeople are moving out of China and taking their wealth with them. Many have found a new home in Singapore.
World Economic Forum in Davos Confronts a New Order
The Covid-19 pandemic, invasion of Ukraine, trend toward autocracy and economic inequalities challenge the World Economic Forum’s relevance.
I.R.S. Backlogs Continue as Republicans Mount Offensive
The National Taxpayer Advocate expressed hope that better days were ahead for the tax collection agency.
At Nearly $1 Billion, Mega Millions Jackpot Is Among Biggest
The next drawing for the $940 million jackpot is Friday night. Since 2016, five multistate lottery jackpots have exceeded that amount, including two in the past year.
Trump’s Tax Audit Shows Depths of IRS Funding Woes
The agency lacks the resources to go after rich taxpayers. For years, a single revenue agent was responsible for the audits of Donald J. Trump.
‘Major Trustee, Please Prioritize’: How NYU’s E.R. Favors the Rich
Dozens of doctors said the nonprofit hospital pressured them to give preferential treatment to donors, trustees and their families.
Why Petulant Oligarchs Rule Our World
The cult of the genius entrepreneur has done a lot of damage.
Musk Asks Twitter Users If He Should Step Down After Fury Over His Policies
Fury mounted over Mr. Musk’s moves to prevent Twitter users from sharing links to other social media platforms. The billionaire also asked whether he should remain as head of the service.
Twitter Suspends Over 25 Accounts That Track Billionaires’ Private Planes
The suspended accounts include one that followed the private plane of Elon Musk, Twitter’s owner.
Sam Bankman-Fried and Schlubby Style
Sam Bankman-Fried’s choices may signal an end to the schlubby mystique.
Sam Bankman-Fried Interview: Read the Transcript
In a discussion with Andrew Ross Sorkin of The New York Times, Sam Bankman-Fried blamed “huge management failures” and sloppy accounting for the collapse of the FTX cryptocurrency exchange.
Epstein Estate Agrees to Pay U.S. Virgin Islands More Than $105 Million
The estate of the disgraced financier Jeffrey Epstein will repay tax benefits and half the proceeds from the sale of an island he owned.
Musk, Bezos, Bankman-Fried, Trump: It Was a Bad Week for Billionaires
Musk, Bezos, Bankman-Fried, Trump: some of our most prominent billionaires laid waste to their carefully cultivated image as benevolent saviors.
Elon Musk Heads to Court to Defend His Billions in Tesla Pay
A shareholder is asking the court to void a 2018 compensation package that has paid the chief executive nearly $50 billion.
FTX’s In-House Performance Coach Is Just as Surprised as You Are
George K. Lerner, a psychiatrist who has worked at the collapsed crypto exchange FTX since last year, said he had no knowledge of wrongdoing at the firm.
Jeff Bezos Says He Will Give Away Most of His Fortune to Charity
The Amazon founder, estimated to be worth $124 billion, suggested in an interview on CNN that he would donate most of his money to charity during his lifetime.
The Fall of FTX’s Sam Bankman-Fried Puts Crypto Industry on Edge
The rapid collapse of FTX, built by the billionaire Sam Bankman-Fried, suggests that no company in the freewheeling, loosely regulated crypto industry is safe.
Ronald Lauder: New York’s Billionaire Political Disrupter
The cosmetics heir has pumped at least $11 million into efforts to elect Representative Lee Zeldin, a Republican, as governor of New York.
The G.O.P. Plot Against Medicare and Social Security
Never mind the “populism,” it’s still a rich man’s party.
Fueled by Billionaires, Political Spending Shatters Records Again
In the money race between America’s billionaires and small donors, the emerging political oligarchy is showing staying power. Both parties have megadonors, but Republicans have far more.
Twitter in the Time of Elon Musk
What comes next for the social media giant now that it’s under the stewardship of the wealthiest person in the world?
Elon Musk, Plus a Circle of Confidants, Tightens Control Over Twitter
The billionaire and a group of his friends and advisers are working on layoff plans and how to swiftly change Twitter’s product, said people with knowledge of the matter.
Elon Musk Takes Twitter, and Tech Deals, to Another Level
Silicon Valley moguls used to buy yachts and islands. Now they are rich enough, and perhaps arrogant enough, to acquire companies they fancy.
For Rishi Sunak, Family Wealth From Outsourcing Adds to a Secretive Fortune
Britain’s new prime minister married into an $800 million stake in Infosys, a company that does not fit neatly into his party’s views on immigration.
Elon Musk Is Buying Twitter. Shudder.
Rogue billionaires have appeared before, and they will appear again. But this one will control our “digital town square.”
How Elon Musk Became a Geopolitical Chaos Agent
The world’s richest man has inserted himself in some of the world’s most combustible conflicts.
How Rich Is Rishi Sunak, Britain’s Incoming Prime Minister?
Just how rich is the soon-to-be prime minister of Britain?
She’s Inheriting Millions of Euros. She Wants Her Wealth Taxed Away.
Marlene Engelhorn, 30, heir to a fortune, isn’t interested in philanthropy, believing it only perpetuates existing power dynamics. She’s calling for structural change to how the ultrarich are taxed.
Peter Thiel, Major U.S. Political Donor, Is Said to Pursue Maltese Citizenship
Obtaining citizenship in Malta would provide another passport for Mr. Thiel, who is one of the largest individual donors for the U.S. midterm elections.
Elon Musk Has the World’s Strangest Social Calendar
When the world’s richest man isn’t tweeting, he’s flying to Burning Man, trying to impress comedians and hopping on yachts.
How a Scottish Moral Philosopher Got Elon Musk’s Number
In a few short years, effective altruism has become the giving philosophy for many Silicon Valley programmers, hedge funders and even tech billionaires.
Elon Musk’s Twitter Bid Puts Pressure on the Banks Backing Him
Looming in the background of Mr. Musk’s $44 billion offer to buy the company is whether financing challenges will provide him with an escape hatch from a deal.
Where Red and Blue Make Green
Part of the resistance or part of the problem? It doesn’t matter: These lawyers are part of the gang.
MacKenzie Scott May No Longer Have a Partner in Philanthropy
The billionaire’s second husband, a teacher, does not appear on her public profile anymore.
Chinese Billionaire Richard Liu Faces Sexual Assault Trial in the US
Richard Liu, also known as Liu Qiangdong, will be one of the few high-profile Chinese figures to face a courtroom jury over sexual assault allegations.
Why Zombie Reaganomics Still Rules the G.O.P.
MAGA is in charge, but policy caters to the wealthy.
Are Geotubes the Answer to Nantucket’s Climate Change Threat?
In an increasingly litigious conflict, the island’s residents are clashing over how to deal with the effects of climate change: Push back or accept what’s coming?
Philanthropy, the Billionaires’ Way
Patagonia founder Yvon Chouinard’s decision to give away billions to fight climate change was made possible by an increasingly popular tax maneuver.