The personal luxury goods market is entering a phase of significant change, which marks its first noticeable slowdown since the aftermath of the Global Financial Crisis. According to Bain & Company’s recent annual luxury report, a confluence of macroeconomic uncertainties coupled with a marked decline in consumer spending in China has led to this situation.
Wealth
Family offices, once primarily reliant on private equity funds for their investment strategies, are undergoing a significant transformation. A recent survey highlights a growing trend where these wealth management entities are shifting towards direct investments in private companies. This movement underscores a broader evolution in how high-net-worth families are managing their wealth and capitalizing on
With the political climate in the United States becoming increasingly polarized, a notable trend has emerged among high-net-worth individuals: the desire to relocate abroad. Many affluent Americans are now actively seeking options for second passports or long-term residencies in response to potential political turmoil. As the countdown to the election intensifies, concerns about both political
As the landscape of philanthropy evolves, two emerging generations, millennials and Gen Z, are significantly reshaping the traditional notions of charitable giving. Findings from a recent survey by Bank of America Private Bank indicate that wealthy individuals under 43 years old view their philanthropic efforts not merely as financial contributions, but as active participation in
Rolls-Royce, a name synonymous with luxury and elegance in the automotive industry, has taken a significant leap forward by inaugurating its first U.S. “Private Office” in the chic Meatpacking District of Manhattan. This exclusive design studio caters to ultra-wealthy clients and is the embodiment of the brand’s newly refined strategy focused on delivering more customized
In recent years, the artificial intelligence sector has emerged as a focal point for many investors, particularly those with substantial financial clout. Among these is Laurene Powell Jobs, who is gaining recognition for her proactive investment strategy in AI startups through her family office and philanthropy, Emerson Collective. The organization’s shift towards AI investments reflects
Recent findings from a UBS survey reveal intriguing insights into the voting habits of millionaire investors with at least $1 million in investable assets. The survey highlights that a significant majority—57%—of these affluent investors plan to cast their vote for Vice President Kamala Harris in the upcoming election. Conversely, 43% favor former President Donald Trump.
Family offices, which serve as private investment institutions for ultra-wealthy families, are undergoing a transformative shift in investment strategies. According to the latest insights from the 2024 Global Family Office Survey by Citi Private Bank, optimism is palpable among these entities, suggesting an aggressive pivot from conservative cash hoarding to dynamic investment in equities and
Over the last decade, the global elite has experienced an unprecedented transformation, characterized by a significant increase in the number of centimillionaires—individuals with investable assets amounting to $100 million or more. Recent findings released by New World Wealth and investment migration strategist Henley & Partners reveal that this affluent demographic has expanded by 54% globally,
The current political climate, characterized by a tightening election race and an expected shift in governmental policies, has prompted significant tax planning actions among high-net-worth individuals. This urgency arises from anticipatory fears surrounding potential increases in estate taxes, pushing affluent investors and their advisors to reassess their wealth transfer strategies to minimize tax liabilities before