Money and 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...

A recent study reveals an unprecedented increase in global wealth, driven by booming stock markets. The number of "high net worth individuals" (HNWIs), defined as those with liquid assets of at least $1 million, rose by 5.1% to 22.8 million in the past year, according to consulting firm Capgemini. The...

Kylian Mbappe, Real Madrid's latest star forward, is predicted to potentially surpass club legend Cristiano Ronaldo and former Paris Saint-Germain teammate Lionel Messi as the richest footballer ever, according to sports finance expert Dr. Rob Wilson. The official announcement of Mbappe's free transfer from PSG to Real Madrid on Monday...

Bill Ackman, hedge fund manager and CEO of Pershing Square Capital Management has joined the ranks of the world's wealthiest individuals thanks to a $1.05 billion investment in his firm. This investment, representing 10% of Pershing Square, values Ackman's stake at over $3.5 billion, propelling his net worth to $8...

Gautam Adani has reclaimed his position as Asia's wealthiest individual, overtaking Mukesh Ambani. Adani, Chairman of the Adani Group, now boasts a net worth of $111 billion, just ahead of Ambani's $109 billion. Adani's resurgence is largely attributed to a recent surge in Adani Group's stock prices. On Friday, shares...

Australia's richest individuals continue to amass wealth, with the tech and property sectors driving the growth of top earners, as highlighted in this year's Australian Financial Review's rich list. For the fifth consecutive year, Gina Rinehart has maintained her position at the top of the list. The combined wealth of...