Millennials are on the brink of becoming the wealthiest generation in history, as estimates suggest a substantial $90 trillion wealth transfer over the next two decades will place them in a financially advantageous position. The reins of wealth are set to be handed over from the silent generation and baby boomers to millennials, who were
Wealth
Ferrari, known for its iconic combustion engines and roaring powertrains, is venturing into the world of electric vehicles. CEO Benedetto Vigna proudly states that the all-electric model retains the driving traits and emotion that define a true Ferrari. Despite the skepticism surrounding the absence of engine noise in electric vehicles, Vigna assures that Ferrari’s power
The United Arab Emirates is projected to maintain its position as the world’s premier destination for attracting high-net-worth individuals for the third consecutive year. Recent research conducted by Henley Private Wealth Migration Report indicates that the UAE is on track to welcome a staggering 6,700 millionaires from across the globe by the end of 2024.
The $84 trillion Great Wealth Transfer set to take place over the next 10 years is expected to have a significant impact on various generations, with Generation X emerging as a major beneficiary. Contrary to popular belief, millennials and members of Generation Z may not be the primary recipients of inheritances from baby boomers, as
Christina Lewis has a unique background in the world of wealth management. From her early days as a young girl managing her father’s stock portfolio to her current venture, Beatrice Advisors, she has seen it all. The tragic loss of her father, Reginald Lewis, at a young age left her with a fortune and a
The landscape of private equity investments is evolving, with family offices emerging as key players in this arena. A recent survey by BNY Mellon Wealth Management reveals that a majority of family offices are shifting towards making direct investments in companies. In fact, 62% of family offices made at least six direct investments last year,
The U.S. experienced a significant increase in millionaires last year, adding 600,000 new millionaires, contributing to record fortunes at the top echelons. America’s millionaire population soared by 7.3% in 2023, reaching 7.5 million individuals, with their combined fortunes amounting to an impressive $26.1 trillion, representing a 7% increase from the previous year. The definition of
Aston Martin, the iconic sports carmaker, is poised to achieve a significant milestone this year as it expects to become cash-flow positive, according to Executive Chairman Lawrence Stroll. The company is at a transitional moment, with Stroll highlighting an inflection point that marks a turnaround in Aston Martin’s financial performance. After years of losses, the