The latest study on global wealth distribution has revealed that New York City stands as the richest city in the world, boasting an impressive 359,500 millionaires and 60 billionaires. Over the past decade, New York has experienced a remarkable 48% surge in its millionaire population, defying concerns of wealth flight and the challenges posed by
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As the baby boomer generation ages, there is a significant amount of wealth that is set to be passed down to the next generation. However, recent reports have highlighted a growing disconnect between how much millennials and Generation Z expect to inherit and what their aging parents actually plan on leaving them. While 68% of
Nintendo recently announced that they will be revealing the successor to their beloved Switch console within this fiscal year, specifically by March 2025. This news comes after the company reported a decline in profit, attributing it to the slowing sales of the current Switch model. The announcement teased by Nintendo President Shuntaro Furukawa has left
The Social Security Administration’s trust funds, which are crucial for paying out benefits, are now projected to run out in 2035, which is one year later than previously estimated. This improvement can be credited to more individuals contributing to the program due to a strong economy, low unemployment rates, and higher job and wage growth.
The dream of owning a home seems to be slipping further away for renters, as indicated by a recent New York Federal Reserve survey. The percentage of renters who believe they will one day be able to afford a home has reached a record low at 13.4% in 2024, down from 15% in the previous
Equinox, the high-end fitness chain, is making waves in the industry with the launch of one of the most expensive gym memberships in the world. Priced at $40,000 per year, the “Optimize by Equinox” program is designed to enhance overall health and longevity. By partnering with lab-test startup Function Health, Equinox aims to provide a
Monday saw an increase in U.S. stocks following gains from the previous session. The S&P 500, Dow, and Nasdaq all rose by over 1% after a softer-than-expected jobs report. This boost in the market was attributed to signs that the Federal Reserve’s monetary tightening efforts were having a positive impact on the U.S. economy, paving
The recent surge in operating earnings reported by Berkshire Hathaway has caused a positive stir in the market. With a 39% increase in first-quarter operating profit, reaching $11.22 billion, the conglomerate has shown significant growth compared to the previous year. This growth has mainly been attributed to an increase in insurance underwriting earnings, particularly in
Former Starbucks CEO, Howard Schultz, recently shared his thoughts on the company’s disappointing quarterly report. Even though he no longer has an official role within Starbucks, Schultz believes that the company can bounce back by enhancing its U.S. stores. He emphasized the need for an improved mobile order and pay experience, as well as a
Investors looking for reliable dividend stocks may want to consider the attractive option of Chord Energy (CHRD). This oil and gas operator in the Williston Basin has declared a base-plus-variable cash dividend of $3.25 per share, demonstrating its commitment to providing returns to shareholders. Analyst Gabriele Sorbara from Siebert Williams Shank sees potential in Chord