India is poised to experience the fastest growth in ultra high net worth individuals globally in the coming years, as per a report by consultancy Knight Frank. Mumbai, the financial capital of India, has surpassed Beijing to become Asia’s leading billionaire hub. It currently ranks third globally in terms of billionaire count, trailing only behind
Wealth
Jeff Bezos, the founder and executive chairman of Amazon, has been making waves with his recent investments in artificial intelligence. While his high-profile purchases of luxury real estate and extravagant yachts have grabbed headlines, it is his foray into AI that is truly capturing the attention of the tech world. Recent data reveals that all
The United Arab Emirates has been recognized as the world’s top wealth magnet for the third consecutive year, as reported by the Henley Private Wealth Migration Report. This trend is expected to continue, with a projected net inflow of 6,700 millionaires by the end of 2024. The appeal of the UAE lies in its zero
Family offices are known for their exclusive and personalized approach to managing the wealth of high net-worth families. However, in recent years, there has been a noticeable shift in how these family offices compensate their employees. As the competition for talent intensifies, family offices are reevaluating their compensation plans to attract and retain top-notch professionals.
In a historic move, luxury conglomerate LVMH has become the first luxury brand to sponsor the Olympics. The brainchild of LVMH Chairman and CEO Bernard Arnault, this groundbreaking sponsorship deal took a year of negotiations and culminated in an investment of approximately $160 million from the parent company of prestigious brands such as Celine, Louis
In 2023, the global population of individuals with a net worth of $30 million or more increased by 8%, reaching a total of 426,330 people. This group, known as ultra-high-net-worth (UHNW) individuals, saw their combined wealth grow by 7% to a staggering $49 trillion. The United States played a significant role in this growth, with
The announcement of a cut in sales outlook by Hugo Boss had a significant impact on the company’s shares, causing them to plunge by as much as 10% in a single day. This sudden drop in share prices reflects the market’s reaction to the company’s revised forecast, which indicated a decrease in full-year sales compared
The concept of “the horizontal wealth transfer” is gaining traction as reports suggest that up to $9 trillion will be passed along to spouses and partners in the coming years. This transfer of wealth is expected to reshape the dynamics of wealth management, investing, and luxury spending. While the traditional idea of wealth passing down
This weekend, all eyes are on India as the youngest son of Asia’s wealthiest man, Mukesh Ambani, gets ready to tie the knot with his long-time sweetheart in a lavish three-day wedding celebration. The wedding festivities kick off with a traditional Hindu ceremony at the Jio World Convention Centre in Mumbai. The guest list is
The 2024 Global Wealth Report from UBS paints an interesting picture of the future of global wealth distribution and the number of millionaires worldwide. The report indicates that the number of adults owning $1 million or more is expected to grow in 52 out of 56 developed and developing economies surveyed between 2023 and 2028.