Millionaire taxes would increase 11% in 2023 under House Democrat plan

House Democrats' proposed tax reforms would raise levies for $1 million households by about 11% on average in 2023, according to the Joint Committee on Taxation. They'd give a tax cut to low- and mid-income households. Higher taxes for corporations and wealthy individuals would raise more than $2 trillion over a decade. The revenues would… Continue reading Millionaire taxes would increase 11% in 2023 under House Democrat plan

Wealth managers gain exposure to Bitcoin via Grayscale, according to new SEC filings

New filings with the United States Securities and Exchange Commission, or SEC, reveal that four wealth management companies have acquired shares of Grayscale’s Bitcoin Investment Trust, offering further evidence of institutional adoption of digital assets.  As first reported by MacroScope, a Twitter feed devoted to institutional trading and asset management, the firms disclosed their GBTC… Continue reading Wealth managers gain exposure to Bitcoin via Grayscale, according to new SEC filings

Warren Buffett gives away another $4.1 billion, resigns as trustee at Gates Foundation

This year's donation marked the halfway point for Buffett, who pledged in 2006 to give away all of his Berkshire shares through annual gifts to five foundations. Buffett said his 16 annual contributions to the five foundations over the years were worth $41 billion when disbursed. The 90-year-old investor also announced his resignation as the… Continue reading Warren Buffett gives away another $4.1 billion, resigns as trustee at Gates Foundation

Some say Florida could become a major tech and finance hub within a decade. That may be an overstatement.

Florida has attracted dozens of financial firms and high-profile investors in recent months. Advocates believe the trend is sustainable and could solidify Florida as a major player in the world of technology and finance. Others say there are some challenges ahead that hinder the Sunshine State's growth potential. Florida has recently attracted some of Wall… Continue reading Some say Florida could become a major tech and finance hub within a decade. That may be an overstatement.

Bernie Madoff, mastermind of the nation's biggest investment fraud, dies at 82

Bernie Madoff masterminded the biggest investment fraud in U.S. history, ripping off tens of thousands of people of as much as $65 billion. Madoff was serving a 150-year prison sentence for his scheme, which investigators said defrauded as many as 37,000 people in 136 countries over four decades. Victims included the famous — director Steven Spielberg,… Continue reading Bernie Madoff, mastermind of the nation's biggest investment fraud, dies at 82

U.S. households ended 2020 with record $130.2 trillion in wealth, Fed says

WASHINGTON (Reuters) – U.S. households ended 2020 with a record $130.2 trillion in wealth, the Federal Reserve said in a report on Thursday, as rock-bottom interest rates and a massive fiscal rescue stemmed the economic fallout from the coronavirus pandemic.FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul… Continue reading U.S. households ended 2020 with record $130.2 trillion in wealth, Fed says

Greece passes law to lure private family wealth-management services

FILE PHOTO: People wear protective face masks at Syntagma square with the parliament building seen in the background, amid the coronavirus disease (COVID-19) pandemic in Athens, Greece January 14, 2021. REUTERS/Alkis KonstantinidisATHENS (Reuters) – Greece passed a law on Wednesday aimed at attracting small firms that offer dedicated wealth-management services to ultra-rich clients, in a… Continue reading Greece passes law to lure private family wealth-management services

US wealth manager adds 10,667 shares of GBTC as Bitcoin adoption grows

Kingfisher Capital, a North Carolina wealth manager, has scooped up 10,667 shares of the Grayscale Bitcoin Trust, according to a recent filing with the United States Securities and Exchange Commission, or SEC.  The filing, which appeared on the SEC website on Thursday, highlights Kingfisher Capital’s growing diversification. The wealth manager has exposure to hundreds of… Continue reading US wealth manager adds 10,667 shares of GBTC as Bitcoin adoption grows

Big drop in Manhattan apartment prices begins to lure back younger renters

Manhattan real estate may be turning the corner, as new rentals rose for the first time in over a year. But vacancy rates remain high, with unrented apartments at an all-time high. New leases increased 33% in October, making it the best October in 12 years, according to a report from Douglas Elliman and Miller… Continue reading Big drop in Manhattan apartment prices begins to lure back younger renters

Saudi Wealth Fund Explores Investing in Grocer Lulu

In this article Follow us @middleeast for more news on the region. Saudi Arabia’s $360 billion sovereign wealth fund is exploring a potential investment in LuLu Group International, which runs one of the Middle East’s largest hypermarket chains, according to a person familiar with the matter. The Public Investment Fund is considering buying a minority… Continue reading Saudi Wealth Fund Explores Investing in Grocer Lulu

Saudi Wealth Fund Builds Stakes in Canadian Oil Sands Giants

Saudi Arabia’s sovereign wealth fund built stakes in two major Canadian oil sands players during the energy market rout. The Public Investment Fund amassed shares in Calgary-based Canadian Natural Resources Ltd. and Suncor Energy Inc., with a 2.6% and 2% stake in the companies, respectively. PIF is now the eighth largest shareholder in Canadian Natural… Continue reading Saudi Wealth Fund Builds Stakes in Canadian Oil Sands Giants

YOUR MONEY: Family offices lead the way on impact investing

NEW YORK (Reuters) – When former investment manager Ron Cordes started a charitable foundation in 2007, he got frustrated because he could only “do good” when he was actively giving the money away to needy causes. Then Cordes discovered impact investing. “We became passionate about sustainability,” he told Reuters. At first, the Cordes Foundation allocated… Continue reading YOUR MONEY: Family offices lead the way on impact investing

Giant Wealth Fund Seeks New Managers Who Can Beat Frothy Market

Australia’s sovereign wealth fund has been saying for months that with markets as elevated as they are now, generating gains is only going to get harder. So is finding the right asset managers. For the A$212 billion ($142 billion) Future Fund, picking investors is a higher-stakes decision given an outlook that implies market returns won’t… Continue reading Giant Wealth Fund Seeks New Managers Who Can Beat Frothy Market

Warren's, Sanders’ wealth taxes could cost American workers $1T, economists say

The math behind Elizabeth Warren’s wealth tax The Daily Caller editorial director Vince Coglianese discusses the lack of viability of Sen. Elizabeth Warren’s proposed wealth tax and Mayor Pete Buttigieg pushing to decriminalize all drugs. A wealth tax endorsed by Democratic presidential candidates Elizabeth Warren and Bernie Sanders could cost American workers more than $1… Continue reading Warren's, Sanders’ wealth taxes could cost American workers $1T, economists say

Hottest Job in Argentina: Helping the 1% Hide Their Cash Abroad

Franco Reinson has never been busier, fielding calls and holding meetings in his office in downtown Buenos Aires. The wealth adviser can thank President Alberto Fernandez, who is making rich Argentines very nervous. “They’re afraid that the new government will be aggressive with its tax policies,” said Reinson, the chief accounting officer at Amicorp’s local… Continue reading Hottest Job in Argentina: Helping the 1% Hide Their Cash Abroad

Elon Musk’s net worth – how did the Tesla boss make his money?

ELON Musk is the eccentric billionaire behind a raft of the most exciting companies on the planet. But his erratic behaviour landed him in several spots of bother over the years. Here's what you need to know. What is the lawsuit by diver Vernon Unsworth about? Musk launched an extraordinary Twitter attack on July 15… Continue reading Elon Musk’s net worth – how did the Tesla boss make his money?

Warren's wealth tax would stunt US growth, not just irritate the rich

Former Microsoft CEO Steve Ballmer: We over-spend our tax revenue Steve Ballmer weighs in on government spending and attacks from some Democratic presidential candidates on the rich. As Democratic presidential candidate Elizabeth Warren fights criticism of her proposed wealth tax from some of the country’s most powerful business leaders, she must also contend with new research… Continue reading Warren's wealth tax would stunt US growth, not just irritate the rich

Warren's wealth tax would slash billionaires' fortunes over time

Will Elizabeth Warren’s wealth tax hurt her electoral prospects? Forbes assistant managing editor Mike Ozanian, GOP fundraiser Noelle Nikpour, and National Taxpayers Union EVP Brandon Arnold discuss Sen. Elizabeth Warren’s proposed wealth tax and how the 2020 presidential election could play out. Elizabeth Warren bills her tax on billionaires as a mere “six cents on… Continue reading Warren's wealth tax would slash billionaires' fortunes over time

Investors retreat further from U.S. stock funds as trade tensions mount: ICI

NEW YORK (Reuters) – Investors extended their retreat from the U.S. stock market by pulling nearly $8.2 billion out of mutual funds and exchange-traded funds that hold domestic equities last week, according to data released on Wednesday by the Investment Company Institute (ICI). The declines came amid the Trump administration’s threats to impose 5% import… Continue reading Investors retreat further from U.S. stock funds as trade tensions mount: ICI

Wealth is a thing you share: an Indigenous view to make us all richer

Money might not make the world go around, but it sure does lie at the heart of many of life’s biggest decisions, such as what job to get, when to buy a home and when to retire. Attitudes to money develop over time, shaped by our own values, those of our parents and the broader… Continue reading Wealth is a thing you share: an Indigenous view to make us all richer

Employing more women could boost economies by 35 percent, says IMF chief Christine Lagarde

Hiring more women and abolishing discriminatory laws would significantly boost the world economy, according to Christine Lagarde. In a recent interview with The Guardian, the head of the International Monetary Fund argues that countries ranked in the bottom 50 percent for gender equality — such as Pakistan, Saudi Arabia and Lebanon — would experience economic… Continue reading Employing more women could boost economies by 35 percent, says IMF chief Christine Lagarde

Couple Uses Bitcoin Wealth to Build World's First "Seastead"

An early Bitcoin investor and self-confessed libertarian has built the first “seastead” with his BTC profits. For those who do not know, a seastead is a floating home designed to stay in international waters, thus allowing its inhabitants to live outside of the laws of any nation. According to the first part of a short… Continue reading Couple Uses Bitcoin Wealth to Build World's First "Seastead"

Bitcoin [BTC] ETF is a joke for Wall Street to make money says Managing Partner at NobleBridge Wealth

Tyrone V. Ross Jr. spoke about Bitcoin and its ETF [Exchange Traded Fund] that is pending approval and opined that holding Bitcoin is more important than Bitcoin ETF in an interview with Naomi Brockwell. Ross Jr., Managing Partner at NobleBridge Wealth & Asset Management Services said that he believes in holding the actual Bitcoins than… Continue reading Bitcoin [BTC] ETF is a joke for Wall Street to make money says Managing Partner at NobleBridge Wealth

eToro Invests $1 million in Blockchain Experiment to Reduce Wealth Inequality

eToro has invested $1 million out of its pocket to launch a blockchain experiment that would research how to reduce wealth inequality. The multi-asset brokerage company announced on Friday that “GoodDollar Experiment” will test a cryptocurrency that pays social interest to the economically underprivileged. These tokens will be distributed among verified participants for free with a… Continue reading eToro Invests $1 million in Blockchain Experiment to Reduce Wealth Inequality