Money and Wealth

The unexpected victory of President-elect Claudia Sheinbaum has triggered a significant decline in the Mexican peso, impacting the fortunes of the country's wealthiest business figures. Since the June 2 election, the combined net worth of five Mexican billionaires, including Carlos Slim and German Larrea, has plunged by $16 billion, totaling...

A recent report by Altrata forecasts a significant wealth transfer among the global elite over the next decade. According to the Family Wealth Transfer 2024 report, over 1.2 million affluent individuals are expected to transfer a staggering $31 trillion by 2033. This amount surpasses the GDP of the United States...

Jeff Bezos, the founder and executive chairman of Amazon, has surpassed Bernard Arnault of LVMH to regain his position as the world's richest person. Bezos, who held the title of the world's richest individual from 2017 to 2021, has seen his fortune grow by $32.6 billion this year alone. In...

At 52, Joan Payden made a bold career move by leaving her job, draining her retirement account, and partnering with Sandra Rygel to establish a money management firm. This venture, initiated in 1983, has led Payden to become one of the wealthiest and oldest self-made women in the United States....

At 61 years old, Nvidia CEO Jensen Huang has ascended to the 13th spot on the global rich list, propelled by his instrumental role in advancing artificial intelligence (AI) semiconductor technology. With a 3.5% stake in Nvidia, totaling approximately 86.76 million shares, Huang has seen a meteoric rise in wealth...

The 2024 edition of the annual Rich List published by the Australian Financial Review (AFR) reveals that the 200 wealthiest Australians now control a staggering $625 billion, an 11% increase from last year's $563 billion. This immense wealth represents roughly a quarter of Australia's annual gross domestic product for 2023....

In the past three years, the number of super-wealthy individuals has surged both in this country and worldwide. If current trends persist, the world may see its first trillionaire within a decade, according to a recent Oxfam report on global inequality. The report highlighted a "supercharged surge in extreme wealth,"...

Tesla CEO Elon Musk finally seems to reclaim the position of the world's wealthiest individual, surpassing LVMH chief Bernard Arnault. The increase in Musk's net worth was driven by a nearly 2% rise in Tesla shares, where Musk holds a 13% stake. Following Musk and Arnault, Amazon founder Jeff Bezos ranks...

Over the past three years, the billionaire Wertheimer family, owners of the luxury brand Chanel, have accumulated $12.4 billion in dividends, significantly boosting their personal wealth and supporting their diversification efforts beyond high fashion. Meanwhile, Chanel recently announced the departure of Virginie Viard, the artistic director who had been with...

Footballers' salaries and sponsorship deals continue to skyrocket, particularly in the Premier League, where TV revenues are soaring, and fifteen out of twenty clubs are owned by billionaires. While many players are content to live off their substantial earnings, others leverage their income to build even greater wealth through business...