As Britain grapples with fiscal challenges and looming budgetary restrictions, the ultra-wealthy are becoming increasingly vocal in their concerns regarding the future of non-domicile (non-dom) tax statuses. The lobbying group Foreign Investors for Britain has raised alarms about the government’s potential changes to this colonial-era tax policy, which permits wealthy individuals residing in the U.K.
Wealth
In recent years, the composition of wealth distribution has undergone a significant transformation, especially regarding the participation of women. The Altrata Billionaire Census reveals that women now constitute approximately 13% of the world’s billionaires, a notable figure with 431 women among a total of 3,323 billionaires. This growth reflects broader societal changes, including an increase
In a striking fusion of contemporary art and the digital currency revolution, crypto investor Justin Sun recently made headlines when he purchased an artwork that many would initially deem absurd—an actual banana duct-taped to a wall, titled “Comedian” by Maurizio Cattelan. Auctioned by Sotheby’s for the staggering price of $6.2 million, this event raises critical
The global art market is currently experiencing a period of contraction, marking its second consecutive year of decline. According to a recent survey conducted by Art Basel and UBS, there is a notable drop in demand for high-end art pieces, with a significant shift in preference towards more affordable artworks, particularly among younger collectors. This
The landscape of private investments is continuously changing, influenced heavily by technology and strategic financial maneuvers. A recent analysis reveals that ten notable family offices have collectively made over 150 investments in startups this year. Spanning across sectors such as biotechnology, energy, cryptocurrency, and artificial intelligence, this data, sourced in collaboration with Fintrx—the private wealth
In a bold attempt to rejuvenate its brand and reconnect with its consumer base, Burberry has announced a comprehensive realignment of its strategy, dubbed “Burberry Forward.” This initiative is critical as the iconic British luxury fashion house grapples with declining sales and the complexities of a challenging luxury goods market. The focus of this overhaul
The personal luxury goods market, celebrated for its resilience over the past decade and a half, is facing an unforeseen turning point in 2024. With macroeconomic uncertainty looming large and a noticeable deceleration in consumption from China, renowned consulting firm Bain & Company anticipates a contraction in this sector for the first time since the
The landscape of high-net-worth investing is undergoing a transformation, as family offices increasingly lean towards direct investments in private companies, moving away from traditional private equity funds. This shift not only signifies a burgeoning confidence in their investment strategies but also poses unique challenges that these family offices must navigate to optimize their investment outcomes.
In a landscape where political instability looms larger than ever, a notable number of affluent Americans are contemplating the prospect of relocating overseas. The impending national elections have ignited a surge in interest regarding international living, as evidenced by the heightened activity among immigration attorneys catering to high-net-worth individuals. The underlying fears of social unrest
In an era characterized by social change, the way wealthy millennials and Generation Z engage in philanthropy is undergoing a seismic transformation. According to a recent study conducted by Bank of America Private Bank, affluent individuals under the age of 43 are increasingly seeing themselves as activists rather than traditional donors. This emerging perspective is