Money and Wealth

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...

Despite headlines about record-breaking concert revenues and skyrocketing ticket prices, a recent survey reveals that most musicians are not reaping the benefits, finding it increasingly challenging to profit from live performances. A study conducted by the rehearsal and recording studio chain Pirate surveyed 1,700 band members, solo artists, and DJs....

This weekend, the wedding of Anant Ambani and Radhika Merchant in Mumbai drew international attention, highlighting the lavish nature and significant economic impact of Indian weddings. This spotlight on an Indian wedding provides a backdrop for exploring the phenomenon of destination weddings among wealthy Indian families, their market size, economic...

Recent Federal Reserve data reveals that a net worth of at least $3,795,000 places you in the top 5% of U.S. households. While this figure is impressive, it pales in comparison to the wealth held by the ultra-affluent. Wealth Breakdown Top 1% Echelon: To join the top 1%, a net...

Gen Z, those born between 1997 and 2012, is poised to become the wealthiest generation ever, according to NielsenIQ's recent "Spend Z" report. The report projects that Gen Z will experience the fastest growth in spending power, expected to reach $12 trillion by 2030, surpassing baby boomer spending by 2029....

The wealthiest farming family in California, Stewart and Lynda Resnick, are planning to significantly expand an industrial warehouse complex to transform the small town of Shafter into an international trading hub. The Resnicks, who own The Wonderful Company, already possess a large distribution center in Shafter, northwest of Bakersfield. The...

A perfect spot near the Cypriot southern coast, almost three times the size of Buskett Gardens in Malta, is being transformed into a luxury golf resort known as Limassol Greens. This ambitious project is a collaboration between some of Malta's wealthiest businessmen and one of Cyprus's largest development companies. Alec...