Inside Wealth
The wealth of the world’s billionaires reached $15.1 trillion last year, per a new report
The global billionaire count hit a record of 3,795 people last year, with the biggest wealth gains for the richest of the rich, per a recent Altrata report.
Labor Day marks the start of ‘fallcations’ as wealthy travelers avoid summer crowds
Wealthy travelers are moving their typical summer getaways to autumn.
Billionaire family offices back healthcare and biotech startups in August
The personal investment firms of titans like Stanley Druckenmiller are backing innovations in gene editing, drug discovery and more.
Manhattan’s luxury rental market is booming, with units reaching $100,000 a month
New York City brokers said they’ve seen a surge in the number of wealthy renters, which is driving Manhattan rents to new records.
Family offices are making a bullish bet on the stock market, according to CNBC Family Office Portfolio Tracker
The data includes the portfolios of hundreds of family offices, representing a total of $1.4 trillion in assets.
What the Buss family Lakers dispute can teach the wealthy about trusts
Jeanie Buss, governor of the Lakers, is contesting her siblings’ decision to sell the family’s remaining stake in the NBA team.
How wealthy families can prepare for aging parents and avoid a succession crisis
Relatively few wealthy families are addressing the question of when an aging parent should give up control, advisors and lawyers told CNBC.
The ‘20% rule’ behind Giorgos Tsetis’ blueprint for a new kind of family office
Family offices are built to be patient with their money. Giorgos Tsetis is not.
Monterey Car Week auctions could hit a record $500 million, with help from younger buyers
A new generation of millennials and Gen Zers is taking over the collecting market from baby boomers and bidding up modern supercars at Monterey Car Week.
Wealth managers face a new challenger: their clients’ AI chatbots
Large language models may give financial advisors a run for their money, but wealth management leaders say the human touch can’t be replaced.