LVMH Moët Hennessy Louis Vuitton, the largest luxury conglomerate globally, recently disclosed its full-year sales for 2024, revealing a performance that exceeded market expectations. Reporting revenues of €84.68 billion (approximately $88.27 billion), LVMH outperformed the analyst forecast of €84.38 billion, marking an organic growth of 1% from the previous year. This financial boost, especially notable
Wealth
Burberry, the iconic British luxury fashion house, experienced a remarkable surge in its stock prices, climbing as much as 16% following the release of its fiscal third quarter results. This was particularly noteworthy, considering that analysts had predicted a more severe decline in sales, estimating a drop of 12%. The actual decrease in comparable sales
In a remarkable development for the luxury goods sector, Richemont, the parent company of Cartier, witnessed a notable surge in its stock prices following the announcement of a 10% increase in fiscal third-quarter sales. The luxury conglomerate reported an impressive 6.2 billion euros ($6.38 billion) in sales at constant exchange rates for the three-month period
The J.P. Morgan Private Bank has unveiled its highly anticipated annual compilation, the “NextList 2025,” providing an elegant mix of experiences and reads designed for its wealthy clientele. This list isn’t just a mere recommendation but a thoughtfully curated collection reflecting the evolving interests and lifestyles of affluent families. It encompasses a variety of cultural
The intermingling of academia and high finance has taken an intriguing turn as elite universities intensify their focus on family offices—private wealth management firms set up to manage the investments and financial interests of affluent families. The recent launch of initiatives like the Booth Family Office Initiative at the University of Chicago is a testament
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.
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