Money and Wealth

A recent study by the Tax Justice Network reveals that governments could generate an additional $2.1 trillion annually by implementing a wealth tax similar to Spain's, which targets the wealthiest 0.5% of households. This amount is twice what is needed each year to fund climate finance for developing nations, a...

According to a recent report by Forrester, the digital economy is projected to reach US$16.5 trillion by 2028, accounting for 17% of the world's economic output. The study, released on August 19, evaluates the expansion and scale of the digital economy, including tech spending, e-commerce in retail and travel, and...

Recent figures from the Central Bank of Malta reveal a striking increase in wealth disparity across the country, with the richest 10% now controlling a staggering 90% of Malta's business wealth. According to data from the European Central Bank’s Distributional Wealth Accounts (DWA), the wealthiest 10% in Malta holds $51.4...

The Ambani family, helmed by Mukesh Ambani, has once again secured its position as India's wealthiest business dynasty, boasting a staggering net worth of approximately $309 billion. This monumental figure not only places the Ambanis at the pinnacle of India's richest families but also underscores their vast influence in the...

Colin Huang, the visionary behind PDD Holdings, has emerged as China's richest individual. With a net worth of $48.6 billion, Huang has overtaken Zhong Shanshan, the head of Nongfu Spring, who has held the top spot since April 2021. Huang now ranks as the world’s 25th wealthiest person. Huang’s journey...

Grace Wee Jingsi, the youngest daughter of United Overseas Bank Ltd.'s CEO, Wee Ee Cheong, is set to purchase a luxurious $29 million mansion, capitalizing on a temporary dip in Singapore's high-end real estate market. According to property filings from March, Wee is buying a prestigious "good class bungalow" located...

Entrepreneurs involved in casino ventures have secured prominent positions in the list of the wealthiest individuals in the Philippines. According to a Thursday press release, Enrique Razon Jr., a notable figure in the ports and casino sectors, has climbed to the second spot for the first time. Despite a $1.4...

Monday brought a significant downturn in the stock market, impacting several Silicon Valley billionaires. By the end of the trading day, the Nasdaq 100 had dropped by 3.4%, the Dow Jones had plummeted over 1,000 points, and the S&P 500 had fallen by 3%. This decline severely affected the net...

On Tuesday, Mark Zuckerberg, the founder of Meta, surpassed Bernard Arnault, the French luxury goods magnate, to become the third-richest person globally. This shift came after a notable increase in Meta’s stock value and a decline in LVMH’s shares. As of approximately 2:45 p.m. EDT, Zuckerberg’s wealth was reported to...

Nigerian mogul and industrial titan Aliko Dangote has reclaimed his position as Africa's wealthiest individual only days after losing the title to South African tycoon Johann Rupert. Dangote's vast fortune surged by an impressive $144 million within a mere 24 hours, bringing his total net worth to a staggering $13.7...