Money and Wealth

Bernard Arnault, the billionaire chairman and CEO of LVMH, has reclaimed his position as the third-richest person in the world, overtaking Meta founder Mark Zuckerberg. This shift in rankings comes as LVMH’s shares experience a multi-day surge, significantly boosting Arnault’s net worth. As of 11:20 a.m. EDT, Arnault's net worth...

In the United States, nearly 50% of hospitals operate as nonprofit entities, which exempts them from paying local, state, and federal taxes. In exchange for these tax breaks, they are expected to offer medical care and other community health benefits, such as free clinics and screenings, especially for those who...

Madhapar, a village in Gujarat's Kutch district, has earned the distinction of being the world’s richest village, with approximately $600 million deposited across 17 banks. Home to 7,600 households, this prosperous village owes much of its economic success to its significant non-resident Indian (NRI) population. Madhapar defies the image of...

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...