Abortion Bans Will Affect Americans Rich and Poor

The notion that rich women will be fine, regardless of what the law says, is probably comforting to some. But it is simply not true.

#abortion, #birth-control-and-family-planning, #dobbs-v-jackson-womens-health-organization-supreme-court-decision, #high-net-worth-individuals, #income-inequality, #law-and-legislation, #pregnancy-and-childbirth, #roe-v-wade-supreme-court-decision, #united-states, #women-and-girls

Artists Scrutinize Nazi Family Past of Julia Stoschek

As word circulated of a link between Julia Stoschek’s fortune and forced labor in World War II, some began questioning the ethics of working with the billionaire art patron.

#art, #brose-max-1884-1968, #collectors-and-collections, #germany, #high-net-worth-individuals, #holocaust-and-the-nazi-era, #stoschek-julia, #stoschek-julia-collection, #world-war-ii-1939-45

Crypto Crash Widens Divide Between Rich and Amateur Traders

No cryptocurrency investor has been spared the pain of plunging prices. But the fallout from more than $700 billion in losses is far from even.

#armstrong-brian-1983, #bitcoin-currency, #careers-and-professions, #coinbase-inc, #computers-and-the-internet, #currency, #executive-compensation, #gemini-trust-co-llc, #high-net-worth-individuals, #labor-and-jobs, #layoffs-and-job-reductions, #start-ups, #unemployment, #virtual-currency, #winklevoss-cameron, #winklevoss-tyler

Buck Ellison’s Great White Society

From the driving range to the dude ranch, an artist stages intimate, alluring portraits of U.S. hegemony from within its walls.

#content-type-personal-profile, #ellison-buck-1987, #high-net-worth-individuals, #photography, #prince-erik-d, #united-states, #whites

Nancy Pelosi’s Napa: Wealthy Friends and a Husband’s Porsche Crash

An accident shines a light on the House speaker’s California life among the vineyards.

#campaign-finance, #drunken-and-reckless-driving, #high-net-worth-individuals, #napa-calif, #newsom-gavin, #pacific-heights-san-francisco-calif, #parties-social, #pelosi-nancy, #pelosi-paul, #real-estate-commercial, #san-francisco-calif, #traffic-accidents-and-safety, #united-states-politics-and-government

The Middlemen at the Heart of an Oligarch-Industrial Complex

They oversee the flow of billions of dollars from Putin-connected Russians to companies involved in superyachts and villas. They’ve drawn the attention of a U.S. task force.

#bld-management, #embargoes-and-sanctions, #high-net-worth-individuals, #imperial-yachts, #kerimov-suleiman, #khudainatov-eduard, #kochman-evgeniy, #portofino-italy, #real-estate-and-housing-residential, #russia, #russian-invasion-of-ukraine-2022, #sailboats-and-sailing, #timchenko-gennady-n, #ukraine

Musk and Bezo Show the Perils of Plutocratic Pettiness

Technology titans are missing that old adulation.

#antitrust-laws-and-competition-issues, #bezos-jeffrey-p, #electric-and-hybrid-vehicles, #ellison-lawrence-j, #fringe-groups-and-movements, #high-net-worth-individuals, #income-inequality, #musk-elon, #orban-viktor, #russian-invasion-of-ukraine-2022, #social-media, #tesla-motors-inc, #twitter

At Davos, a Referendum on the World Economic Forum

Many values espoused by the World Economic Forum — globalization, liberalism, free market capitalism, representative democracy — are under attack.

#capitalism-theory-and-philosophy, #davos-switzerland, #economic-conditions-and-trends, #food-insecurity, #high-net-worth-individuals, #politics-and-government, #poverty, #schwab-klaus, #war-and-armed-conflicts, #world-economic-forum, #worldeconomicforum2022

The Rich Are Not Who We Think They Are

And happiness isn’t what we think it is, either.

#computers-and-the-internet, #data-mining-and-database-marketing, #high-net-worth-individuals, #research, #united-states-economy

At a German Hideaway, Oligarch Villas Challenge a ‘Silent Contract’

Tegernsee, a luxury getaway in Bavaria, is known for quietly hosting the superrich. But war in Ukraine has divided locals about whether the authorities should go after the assets of their wealthy Russian neighbors.

#bavaria-germany, #embargoes-and-sanctions, #high-net-worth-individuals, #ivan-shabalov, #lake-tegernsee, #politics-and-government, #putin-vladimir-v, #russian-invasion-of-ukraine-2022, #usmanov-alisher-b, #war-and-armed-conflicts

Helicopters vs. Homeowners: A Very Hamptons Fight

The East Hampton Airport is set to close on May 17, but frequent fliers, business owners and others have filed lawsuits to keep it open.

#airlines-and-airplanes, #airports, #beaches, #blade-inc, #dans-papers, #east-hampton-ny, #east-hampton-airport-long-island-ny, #hamptons-ny, #helicopters, #high-net-worth-individuals, #netjets, #noise, #private-aircraft, #real-estate-and-housing-residential, #roads-and-traffic, #southampton-ny, #suffolk-county-ny, #summer-season

‘If Economists Are So Smart, Why Ain’t They Rich?’

Here are five theories.

#economics-theory-and-philosophy, #high-net-worth-individuals, #internal-sub-only-nl

Why Selling Off Russian Oligarchs’ Assets Will Take Years

It could take years for Russian assets seized by the United States to be permanently confiscated and sold to benefit the Ukrainian people. The Biden administration wants to speed up the process.

#abramovich-roman-a, #assets-frozen, #deripaska-oleg-v, #embargoes-and-sanctions, #high-net-worth-individuals, #majorca-spain, #russia, #russian-invasion-of-ukraine-2022, #vekselberg-viktor-f

How Twitter’s Board Went From Fighting Elon Musk to Accepting Him

It’s highly unusual to move from a “poison pill” to a $44 billion deal in under two weeks. But Twitter’s board ran out of options.

#appointments-and-executive-changes, #boards-of-directors, #computers-and-the-internet, #dorsey-jack, #high-net-worth-individuals, #mergers-acquisitions-and-divestitures, #morgan-stanley, #musk-elon, #social-media, #stocks-and-bonds, #taylor-bret, #twitter

Elon Musk Is a Typical Twitter User, Except for One Thing

The platform has always been the perfect place to indulge your whims. But when you’re the richest man in the world, those whims can grow significantly.

#high-net-worth-individuals, #mergers-acquisitions-and-divestitures, #musk-elon, #social-media, #tesla-motors-inc, #twitter, #united-states-politics-and-government

The Sunday Read: ‘How Many Billionaires Are There, Anyway?’

Forbes thinks there are 735 of them in America. Another count finds 927. Whatever the answer, the mystery is revealing — and the number is growing rapidly.

#audio-neutral-informative, #forbes-magazine, #forbes-malcolm, #high-net-worth-individuals

The G.O.P. Is Still the Party of Plutocrats

Unlike Europe’s right, it won’t even gesture toward actual populism.

#desantis-ron, #high-net-worth-individuals, #national-rally-france, #patient-protection-and-affordable-care-act-2010, #republican-party, #right-wing-extremism-and-alt-right, #scott-richard-l, #tax-cuts-and-jobs-act-2017

How Many Billionaires Are There, Anyway?

Forbes thinks there are 735 of them in America. Another count finds 927. Whatever the answer, the mystery is revealing — and the number is growing rapidly.

#bloomberg-michael-r, #gates-bill, #high-net-worth-individuals, #income-inequality, #interest-rates, #musk-elon, #politics-and-government, #presidential-election-of-2020, #soros-george, #united-states-economy

How the ​​‘Homeless Billionaire’ Became a Philosopher King

Money can buy influence over nearly anything in the world — including in the world of ideas.

#berggruen-institute, #berggruen-nicolas, #content-type-personal-profile, #high-net-worth-individuals, #los-angeles-calif, #philosophy, #singer-peter-1946

Rags-to-Riches Stories Are Actually Kind of Disturbing

From Horatio Alger and E.L. James to T. Boone Pickens and Charles Koch, books by and about the ultrawealthy reveal some of our darkest American fantasies.

#books-and-literature, #high-net-worth-individuals, #income-inequality, #koch-charles-g, #writing-and-writers

The Psychic Contortions of the Black Billionaire

Black billionaires are rare, and a disproportionate number of them are performers. What does that much wealth do to your art?

#black-people, #high-net-worth-individuals, #income-inequality, #jay-z, #music, #rap-and-hip-hop, #west-kanye, #winfrey-oprah

Here’s the Neat Trick of Biden’s Billionaire Tax

How to convince the Supreme Court that the plan is constitutional?

#biden-joseph-r-jr, #high-net-worth-individuals, #income-tax, #internal-sub-only-nl, #supreme-court-us

Biden to Include Minimum Tax on Billionaires in Budget Proposal

The tax would require that American households worth more than $100 million pay at least 20 percent on their full income, as well as unrealized gains in the value of liquid assets like stocks.

#biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #united-states-politics-and-government

MacKenzie Scott Gives $436 Million to Habitat for Humanity

The donation is part of an ongoing effort by Ms. Scott to give away her fortune.

#affordable-housing, #amazon-com-inc, #bezos-jeffrey-p, #habitat-for-humanity, #high-net-worth-individuals, #philanthropy, #reckford-jonathan, #scott-mackenzie

How Roman Abramovich Used Shell Companies and Wall Street Ties to Invest in the U.S.

Using a network of banks, law firms and advisers in multiple countries, Roman Abramovich invested billions in American hedge funds.

#abramovich-roman-a, #banking-and-financial-institutions, #chelsea-soccer-team, #concord-management-llc, #embargoes-and-sanctions, #foreign-investments, #globeop-financial-services-s-a, #hedge-funds, #high-net-worth-individuals, #money-laundering, #private-equity, #putin-vladimir-v, #united-states-politics-and-government

U.K. vs. Oligarchs: ‘The Gloves Are Now Off’

Russia’s war in Ukraine has finally led the British government to go after ultrawealthy Russians in London. But curbing the flood of corrupt money will require going after more than the big names.

#abramovich-roman-a, #aliyev-ilham-h, #blacklisting, #blavatnik-leonard, #deripaska-oleg-v, #great-britain, #high-net-worth-individuals, #johnson-boris, #kostin-andrey-l, #lebedev-aleksandr-y, #lebedev-evgeny, #navalny-aleksei-a, #politics-and-government, #putin-vladimir-v, #russia, #russian-invasion-of-ukraine-2022, #sechin-igor-i, #ukraine, #vekselberg-viktor-f, #war-and-armed-conflicts

Nelson W. Aldrich Jr., Dissector of Old Money, Dies at 86

In books and articles, he unsparingly scrutinized an American aristocracy that he knew intimately.

#aldrich-nelson-w-jr, #books-and-literature, #deaths-obituaries, #high-net-worth-individuals, #old-money-the-mythology-of-wealth-in-america-book, #writing-and-writers

How Dubai Could Undermine Sanctions on Russian Oligarchs

Allies of President Vladimir Putin, arriving on private jets and yachts, are still welcome in the U.A.E., which has yet to condemn the Ukraine invasion or enforce sanctions.

#dubai-united-arab-emirates, #embargoes-and-sanctions, #high-net-worth-individuals, #politics-and-government, #putin-vladimir-v, #russian-invasion-of-ukraine-2022, #united-arab-emirates

Billionaires Battle Over a Hotel and Quality of Life on St. Barts

A legal feud over a hotel in St. Barts pits development against fragile nature on this tropical Arcadia for the ultrarich. It might also signal a turning point in the hyper-development of the island.

#building-construction, #change-org, #environment, #etoile, #high-net-worth-individuals, #hotels-and-travel-lodgings, #st-barthelemy-french-west-indies, #travel-and-vacations

U.K. Moves to Tighten Laws on Oligarchs. Critics Say It’s Too Late.

With most of the Western world uniting against Russia’s invasion of Ukraine, Britain is trying to plug loopholes for wealthy Russians to which it has long turned a blind eye.

#abramovich-roman-a, #conservative-party-great-britain, #corruption-institutional, #high-net-worth-individuals, #house-of-commons-great-britain, #house-of-lords-great-britain, #johnson-boris, #lebedev-evgeny, #money-laundering, #russian-invasion-of-ukraine-2022, #transparency-international

You Can Take It With You, if the Grave Is Deep Enough

Sometimes apocryphal, often outrageous: stories of car lovers who were buried with their prized possessions.

#automobiles, #cadillac-division-of-general-motors-corp, #cemeteries, #ferrari-spa, #funerals-and-memorials, #high-net-worth-individuals, #west-sandra-ilene

Vast Leak Exposes How Credit Suisse Served Strongmen and Spies

Leaked data on more than 18,000 accounts shows that the Swiss bank missed or ignored red flags.

#abdullah-ii-king-of-jordan, #banking-and-financial-institutions, #corruption-institutional, #credit-suisse-group-ag, #high-net-worth-individuals, #money-laundering, #mubarak-hosni, #mugabe-robert, #panama-papers, #pandora-papers, #paradise-papers, #suddeutsche-zeitung, #tax-evasion, #whistle-blowers

Don’t Cede the Space Race to China and the Billionaires

We don’t know what space can tell us about the origins of the universe and life on Earth. But that, above all, is the reason for going. 

#bezos-jeffrey-p, #biden-joseph-r-jr, #china, #glenn-john-herschel-jr, #high-net-worth-individuals, #mars-planet, #moon, #musk-elon, #perseverance-mars-rover, #space-and-astronomy, #united-states-politics-and-government, #xi-jinping

They Made Millions on Luna, Solana and Polygon: Crypto’s Boom Beyond Bitcoin

The ranks of cryptocurrency speculators have swelled, with even obscure tokens minting the newly wealthy: at least on the blockchain.

#bitcoin-currency, #computers-and-the-internet, #currency, #high-net-worth-individuals, #luxury-goods-and-services, #nonfungible-tokens-nfts, #virtual-currency

Wonking Out: Are Billionaires Making Out Like Bandits?

Rising wealth may not be quite what it seems.

#coronavirus-2019-ncov, #economics-theory-and-philosophy, #federal-reserve-system, #high-net-worth-individuals, #income-inequality, #inflation-economics, #interest-rates, #internal-sub-only-nl, #international-trade-and-world-market, #wages-and-salaries

Who Is on the New Gates Foundation Board?

In the wake of Bill Gates and Melinda French Gates’s divorce, their foundation adds members to its new governing board.

#african-union, #alliance-for-a-green-revolution-in-africa-agra, #boards-of-directors, #bridgespan-group, #buffett-warren-e, #gates-bill, #gates-bill-and-melinda-foundation, #gates-melinda, #high-net-worth-individuals, #london-school-of-economics, #masiyiwa-strive, #philanthropy, #shafik-nemat, #tierney-thomas-j

A Love of Trees or a Display of Power? The Odd Park of an Oligarch.

A billionaire former prime minister says he has retired from Georgia’s fraught politics. His critics say he still wields considerable power. What’s beyond dispute: his obsession with trees.

#black-sea, #georgia-georgian-republic, #high-net-worth-individuals, #ivanishvili-bidzina, #politics-and-government, #saakashvili-mikheil, #trees-and-shrubs

‘Davos Man,’ Marc Benioff and the Covid Pandemic

They stepped up in the pandemic “to save the world,” says Marc Benioff of Salesforce. Even as their tax practices and perches kept them above its troubles.

#benioff-marc, #content-type-personal-profile, #corporate-social-responsibility, #corporate-taxes, #davos-switzerland, #high-net-worth-individuals, #income-inequality, #philanthropy, #san-francisco-calif, #tax-shelters, #world-economic-forum

Barcelona Banks on Superyachts, Becoming a Hub

The city has become a hub for billionaires’ superyachts, banking on the strength of the “blue economy.”

#barcelona-spain, #boats-and-boating, #coronavirus-2019-ncov, #cruises, #high-net-worth-individuals, #labor-and-jobs, #luxury-goods-and-services, #mediterranean-sea

Billionaire’s Star Rises as She Takes Bold Stance on Racism in Brazil

Luiza Trajano turned a small family store into a retail giant. Now, a company policy limiting its executive training program to Black applicants is drawing praise, outrage and much soul-searching.

#affirmative-action, #black-people, #brazil, #content-type-personal-profile, #discrimination, #high-net-worth-individuals, #luiza-trajano, #race-and-ethnicity

Why Silicon Valley Can’t Escape Elizabeth Holmes

Ms. Holmes, the founder of Theranos, wasn’t a creature of Silicon Valley, or so the refrain went. But her fraud trial showed otherwise.

#computers-and-the-internet, #frauds-and-swindling, #high-net-worth-individuals, #holmes-elizabeth-1984, #news-and-news-media, #silicon-valley-calif, #start-ups, #theranos-inc, #venture-capital

Theranos Founder Elizabeth Holmes Found Guilty of Four Counts of Fraud

The case against the founder of the failed blood testing start-up Theranos came to symbolize the pitfalls of Silicon Valley’s culture of hustle and hype.

#computers-and-the-internet, #domestic-violence, #falsification-of-data, #frauds-and-swindling, #high-net-worth-individuals, #holmes-elizabeth-1984, #start-ups, #tests-medical, #theranos-inc

Britney Spears Felt Trapped. Her Business Manager Benefited.

Louise Taylor faces questions about whether she improperly enriched herself as the pop star’s business manager.

#appointments-and-executive-changes, #calvary-chapel, #conflicts-of-interest, #conservatorships, #harder-charles-j, #high-net-worth-individuals, #ingham-samuel-d-iii, #pop-and-rock-music, #rosengart-mathew-s, #spears-britney, #spears-jamie-1952, #stonebridge-wealth-management, #suits-and-litigation-civil, #taylor-louise-m, #tri-star-sportsentertainment-group, #wills-and-estates

Elon Musk’s Latest Innovation: Troll Philanthropy

Some very wealthy people give their money away in an attempt to burnish their reputations. Not the Tesla C.E.O.

#bezos-earth-fund, #bezos-jeffrey-p, #gates-bill, #high-net-worth-individuals, #musk-elon, #nonprofit-organizations, #philanthropy, #scott-mackenzie, #social-media, #soskis-benjamin, #space-exploration-technologies-corp, #tesla-motors-inc

Rift Between Wyden and Son Shows the Challenge of Taxing the Ultrarich

A dispute between Ron Wyden, the Democratic Senate Finance Committee chairman, and his hedge fund-manager son illustrates how the merely rich help the fabulously rich resist tax increases.

#biden-joseph-r-jr, #federal-taxes-us, #hedge-funds, #high-net-worth-individuals, #income-tax, #musk-elon, #senate-committee-on-finance, #tax-shelters, #united-states-politics-and-government, #wyden-ron

Millionaire Space Tourism Doesn’t Come With an Awe Guarantee

Space tourism is one of those ostensibly awesome experiences that often feel anticlimactic because they promise the sublime.

#blue-origin, #elon-musk, #emotions, #high-net-worth-individuals, #jeff-bezos, #private-spaceflight, #richard-branson, #senses-and-sensation, #space, #space-and-astronomy, #travel-and-vacations, #virgin-galactic

The Fight Over a Hedge-Fund Billionaire’s Manhattan Rooftop Addition

A billionaire’s plans for his prewar penthouse spark fears of slippery slope scenarios on the Upper West Side of Manhattan.

#ackman-william-a, #foster-norman, #high-net-worth-individuals, #historic-buildings-and-sites, #landmarks-preservation-commission, #manhattan-nyc

SALT Deduction That Benefits the Rich Divides Democrats

House Democrats are poised to lift a cap on the state and local tax deduction, a gift to wealthy homeowners in some blue states.

#california, #democratic-party, #elections-house-of-representatives, #federal-budget-us, #high-net-worth-individuals, #house-of-representatives, #new-jersey, #new-york-state, #republican-party, #senate, #states-us, #tax-credits-deductions-and-exemptions, #taxation, #united-states-politics-and-government

Wall Street Is Finally Getting Access to China. But for How Long?

Citigroup, JPMorgan Chase and Goldman Sachs are among those eyeing huge potential profits, undeterred by Beijing’s sudden policy changes and friction with the United States.

#banking-and-financial-institutions, #blackrock-inc, #china, #citigroup-inc, #financial-brokers, #goldman-sachs-group-inc, #high-net-worth-individuals, #jpmorgan-chasecompany, #politics-and-government

The Consulting Firm Billionaires Turn to When They Give Away Money

A little-known organization called the Bridgespan Group is guiding the philanthropic choices of many leading donors, including MacKenzie Scott.

#asian-american-foundation, #bainco, #bridgespan-group, #consultants, #high-net-worth-individuals, #nonprofit-organizations, #philanthropy