Money and Wealth

The decline in the stock market on Wednesday significantly impacted the fortunes of the world's richest individuals, with the top ten losing nearly $66 billion collectively as shares of companies like Tesla, Alphabet, and Meta dropped. Tech stocks suffered notable losses after disappointing second-quarter earnings reports from Tesla and Alphabet were...

American athletes who secure gold medals this summer will be awarded $37,500 by the U.S. Olympic & Paralympic Committee. However, this amount is modest compared to the rewards given by other countries. Out of the 206 nations and territories participating in the Olympics, at least 33 will provide financial incentives...

Over the past decade, the world’s richest 1% have amassed an additional $42 trillion, according to a recent report by Oxfam. The non-governmental organization highlighted that taxes on the wealthy have fallen to "historic lows," exacerbating global inequality and leaving the majority to contend with limited resources. Oxfam's report revealed...

Elon Musk, the world's wealthiest individual, experienced a significant decrease in his wealth on Wednesday as Tesla's stock price plummeted, impacting the net worths of several other billionaires linked to various companies. Although Musk's loss was the most substantial, he wasn't alone in facing financial setbacks. Several high-profile billionaires saw...

Dua Lipa saw an impressive financial year, amassing approximately %1.3 million per week in 2023 due to merchandise sales and her successful Future Nostalgia tour. Financial records up to March 2023 revealed that the 28-year-old artist's company, Radical 22 Live LLP, achieved a staggering turnover of $66.5 million. In May,...

Determining one's position on the wealth spectrum can be challenging since most Americans are reluctant to discuss financial matters, even though they recognize that such conversations are crucial for financial solutions. Recent research by financial advisory firm Empower indicated that 62% of Americans avoid talking about money, and 35% were...

Henley & Partners' 2024 Africa Wealth Report highlights that Africa is home to 135,200 high-net-worth individuals (HNWIs) with liquid investable assets exceeding USD 1 million. The continent also boasts 342 centi-millionaires, each worth USD 100 million or more, and 21 billionaires. Africa’s top five wealth markets—South Africa, Egypt, Nigeria, Kenya,...

China's wealthiest individual, Zhong Shanshan, is on the verge of losing his top spot after nearly three years, as his fortune diminishes the most among global billionaires. His bottled water company, Nongfu Spring, has been grappling with heightened competition and various setbacks. As of July 22, 2024, Zhong Shanshan, Chairman...

The Environmental Protection Agency (EPA) has announced the allocation of the inaugural Climate Pollution Reduction Grants (CPRG), totaling $4.3 billion. This funding, part of the Inflation Reduction Act, aims to support states and municipalities in their strategies to reduce greenhouse gas emissions. Jeremy Tarr, U.S. State Policy Director at CATF,...

A recent study conducted by the Swiss Institute for Economic Research (KOF) has unveiled striking disparities in the origins of wealth among Switzerland's richest individuals. According to the study, a mere 8% of the 300 wealthiest Swiss citizens accumulated their fortunes through their own efforts. In stark contrast, 80% of...