Millennials, born between 1981 and 1996, are on track to receive a massive $90 trillion wealth transfer over the next two decades. This transfer is expected to make millennials the wealthiest generation in history, surpassing the silent generation and baby boomers. However, the question remains: are millennials equipped to handle this influx of wealth? According
Wealth
Ferrari, known for its roaring combustion engines, is set to launch its all-electric model in the fourth quarter of 2025. Ferrari CEO Benedetto Vigna has described the all-electric model as having all the driving traits and emotion of a true Ferrari. According to Vigna, the defining characteristic of a Ferrari is the emotional experience, and
The United Arab Emirates has emerged as the world’s leading wealth magnet for the third consecutive year, according to the Henley Private Wealth Migration Report. The report predicts an unprecedented net inflow of 6,700 millionaires into the tiny Gulf nation by the end of 2024. This staggering number dwarfs the expected inflow of 3,800 millionaires
Generation X, typically defined as individuals between the ages of 44 and 59, has been largely overlooked in discussions about the impending Great Wealth Transfer. As baby boomers prepare to pass down their fortunes to the next generation, it is clear that Gen Xers stand to benefit the most in the near term. According to
Christina Lewis, the daughter of Reginald Lewis, the founder of TLC Beatrice International, experienced a life-altering event at the tender age of 13. Her father’s sudden passing left her with not only a large fortune but also a myriad of unanswered questions. This pivotal moment marked the beginning of Lewis’s journey into the complex world
Family offices are undergoing a transformation, moving away from traditional investment strategies and towards becoming their own private equity funds. A recent survey conducted by BNY Mellon Wealth Management revealed that a significant majority of family offices are now opting to make direct investments in private companies. This shift in strategy is driven by the
In 2023, the United States saw a rapid increase in the number of millionaires, adding a staggering 600,000 new individuals to the millionaires’ club. This surge in wealth creation propelled the total millionaire population in the U.S. to 7.5 million people, marking a significant 7.3% growth compared to the previous year. According to a report
Aston Martin, the iconic sports car manufacturer, is on the cusp of a significant transformation under the leadership of Executive Chairman Lawrence Stroll. After years of financial struggles, the company is set to achieve cash flow positivity this year. Stroll’s vision for the company involves a strategic shift towards consistent and sustainable growth, driven by
Housekeepers in Palm Beach and South Florida are experiencing a surge in demand and salaries, with some making well over $150,000 a year. The mass exodus of wealthy individuals from high-tax states to Florida has led to an unprecedented need for household staff in elite enclaves, especially in Palm Beach. Staffing agencies are reporting bidding
Family offices are increasingly becoming targets for cybercriminals, with a significant 79% of North American family offices acknowledging the heightened likelihood of a cyberattack in recent years. This vulnerability is further highlighted by the fact that a quarter of family offices surveyed reported experiencing a cyberattack in 2023, a notable increase from 17% in 2020.
