India is on the cusp of witnessing an unprecedented growth in ultra-high net worth individuals, outpacing the global trend, as per consultancy Knight Frank. Mumbai, India’s financial capital, has already established itself as the leading billionaire hub in Asia, surpassing Beijing earlier this year. Ranking third globally in terms of billionaire count, after New York
Wealth
Jeff Bezos, the founder and executive chairman of Amazon, has been in the spotlight recently for his extravagant purchases, including a $165 million estate in Los Angeles, a $177 million property in Miami, and a $500 million yacht. However, his most significant recent investments may not be in luxury real estate or yachts, but rather
The global landscape of wealth migration is shifting, with the United Arab Emirates emerging as the top destination for high-net worth individuals seeking greener pastures. On the other hand, the United Kingdom is projected to see a decline in its millionaire population in the coming years, leading to questions about the factors driving these trends.
In the competitive world of family offices, the battle for talent is heating up. With family offices growing in size and number, they are finding themselves in direct competition with private equity firms and venture funds for the best staff members. In response to this growing need, family offices are reevaluating their compensation plans to
The recent announcement of LVMH’s sponsorship deal for the 2024 Paris Olympic Games marks a significant milestone in the world of luxury brands. This unprecedented venture took a year of negotiations and culminated in a staggering $160 million investment from the parent company of renowned brands such as Celine, Louis Vuitton, Loewe, Tiffany, TAG Heuer,
In a recent report by Altrata, it was revealed that the global population of individuals worth $30 million or more, known as ultra-high-net worth (UHNW) individuals, saw an 8% increase in 2023. This surge in numbers was primarily driven by growth in the United States, where the UHNW population increased by 13% to 147,950 individuals.
The luxury fashion sector is facing turbulent times, as demonstrated by Hugo Boss shares plummeting by 10% following the company’s decision to cut its sales outlook. The German fashion powerhouse announced a revised full-year sales forecast of up to 4.35 billion euros, down from a previous estimate of up to 4.45 billion euros. This unexpected
As per a recent report, up to $9 trillion is anticipated to be transferred between spouses and partners in the coming years as part of what is being referred to as “the horizontal wealth transfer.” This shift in wealth is expected as aging baby boomers and older generations are set to pass down a massive
This weekend’s mega wedding in India is capturing the attention of people worldwide as the youngest son of Mukesh Ambani, Asia’s wealthiest man, is set to tie the knot with his long-time sweetheart amidst extravagant celebrations. The festivities kicked off with a three-day pre-wedding bash in the Ambani’s hometown of Jamnagar, Gujarat, where 1,200 guests
The UBS 2024 Global Wealth Report predicts a significant rise in the number of global millionaires over the next five years, with notable growth in countries such as Taiwan, Turkey, Kazakhstan, Indonesia, and Japan. These increases are driven by various factors such as industry growth, immigration, and economic trends. However, the report also highlights a
