Money and Wealth

One has to pay their taxes, whether they like it or not. Tax evasion is illegal and attracts hefty fines. At times, defaulters are sent to prison. On the other side, there are legitimate ways to minimize tax liability, which is essentially tax avoidance. But this isn’t child’s play. Unless...

It's projected that a whopping $73 trillion will be inherited by millennials from aging baby boomers (those born between 1946 and 1964). This considerable wealth is partly due to the U.S. government implementing its own wealth transfer, as explained by hedge fund billionaire Ray Dalio in a detailed LinkedIn newsletter....

One of the major cinema chains in Indonesia, Cinema XXI, has recently been listed on the Indonesia Stock Exchange. This successful IPO has made Benny Suherman, the co-founder and major shareholder of the company, a billionaire with an estimated net worth of $1.1 billion. Cinema XXI owns a majority of...

The chair of Country Garden Services Holdings Company, Yang Huiyan, is transferring approximately 55% of her personal shares in the property management company to a family charity, which was established by her sister. Yang Huiyan is China's third wealthiest woman, with a net worth of almost $6.36 billion, and the...

Zhang Liguo, the founder of the Chinese skincare brand Fuerjia, has become a billionaire by selling facial masks at a retail price of around $3 each. He recently listed his company in Shenzhen, China's tech hub, and has now joined the ranks of the world's wealthiest individuals. A man named...

Last week, Symbotic Inc., a company specializing in warehouse automation, reported earnings that caused their stock to increase by over 50%. As a result, their majority owner, Richard B. "Rick" Cohen, gained an additional $7 billion in net worth, bringing his total to an impressive $25.6 billion. As its stock...

There are discussions underway for Czech billionaire Daniel Kretinsky to purchase Atos's unprofitable legacy operations in a deal worth €2 billion ($2.20 billion). Over the past year, Atos has been restructuring its operations to try and reduce significant losses. The sale will enable Atos to concentrate on its cybersecurity and...

Pat McClain and Scott Hanson are planning to step aside as co-chief executives of $18 billion Sacramento, Calif.-based RIA Allworth Financial. Allworth's board has hired executive search company Heidrick & Struggles to help source an individual to replace the duo that founded the RIA 30 years ago. Scott Hanson and...

Fifty-four percent of chief financial officers (CFOs) indicated that their chief executive officers (CEOs) are putting pressure on cost reduction, focus on working capital efficiency, and risk management. While 40% said their CEOs want them to focus on strategy, performance management, revenue growth, and investment, that's according to a new...

Elon Musk, CEO of Tesla and SpaceX, has recaptured the title of "the richest person in the world," surpassing French luxury goods mogul Bernard Arnault, the president of group LVMH. According to the CEOWORLD magazine's list of the world's richest people, Musk's astronomical net worth increased by $3.71 billion as...