The global art market has experienced a notable contraction, marking the second consecutive year of decline as it grapples with changing buyer preferences and economic uncertainties. Recent insights from the Art Basel and UBS Survey of Global Collecting reveal a stark decrease in auction sales across major houses, such as Christie’s and Sotheby’s, presenting a
Wealth
The financial landscape of startup investments is undergoing significant transformation, propelled by the increasing engagement of family offices. These private investment entities, closely held and typically run by wealthy families, have emerged as formidable players in venture capital, often overshadowing traditional investment channels. Recent analyses reveal that a select group of family offices is leading
In a significant move to rejuvenate its brand identity and financial performance, Burberry has unveiled its “Burberry Forward” strategic overhaul, aiming to re-establish its connection with customers by prioritizing core heritage designs and statement pieces. Announced on a recent Thursday, this initiative marks a pivotal moment for the luxury fashion house, as it looks to
The personal luxury goods sector, an industry marked by opulence and exclusivity, is currently teetering on the brink of its first significant slowdown since the tumultuous days of the Global Financial Crisis. According to Bain & Company’s recent annual luxury report, a confluence of macroeconomic uncertainties, notably a sharp economic slowdown in China, has begun
The investment landscape is fast-changing, particularly for family offices—private wealth management advisory firms that serve high-net-worth families. With the increasing complexities of wealth management and investment opportunities, these family-centric entities are gravitating away from traditional private equity funds. Instead, they are now more inclined to engage directly in investments, acquiring stakes in private companies. This
As the political climate in the United States grows increasingly volatile, an alarming trend emerges: a significant number of affluent Americans are contemplating or already taking steps to leave the country. Beyond typical election year sentiments, a mix of underlying anxieties—both political and social—are propelling this decision. Reports from immigration attorneys indicate a surge in
Philanthropy is rapidly evolving, particularly among wealthy millennials and Gen Z. Recent research from Bank of America Private Bank underscores a marked shift in how these younger donors view their role in charitable giving—not merely as cash dispensers but as active participants in social change. The willingness to volunteer, mentor, and engage directly with causes
In an ambitious move to elevate luxury car ownership, Rolls-Royce has launched its first U.S. **Private Office** in the fashionable Meatpacking District of Manhattan. This exclusive design studio serves as a sanctuary for affluent clients seeking unparalleled personalization in their vehicles, far beyond the standard offerings. Rolls-Royce is keenly aware that in today’s saturated automotive
Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs, continues to carve out a significant niche in the tech investment landscape, particularly in the realm of artificial intelligence (AI). Her family office, the Emerson Collective, has increasingly turned its focus towards AI ventures, evidencing a remarkable growth trajectory in the last few years. Fintrx,
A recent UBS survey reveals a fascinating dynamic among millionaire investors regarding their political preferences as the November elections approach. Despite acknowledging former President Donald Trump’s superiority in economic management, a significant 57% of respondents with over $1 million in investible assets expressed their intent to vote for Vice President Kamala Harris. This information highlights