The recent news that British luxury fashion house Burberry Group dropped out of the U.K.’s FTSE 100 stock market index has sent shockwaves through the industry. This marks a significant decline for the 168-year-old retailer, which has been facing mounting pressures in recent years. This article will delve into the reasons behind Burberry’s struggles, from
Wealth
Back in 1916, John D. Rockefeller became the world’s first billionaire with Standard Oil hitting a $2,014 valuation. Since then, the idea of reaching the trillionaire mark has captured the public’s imagination and interest. Fast forward to today, with companies like Berkshire Hathaway and Nvidia surpassing the trillion-dollar mark, it’s no surprise that individuals like
Sports team owners who have seen a significant increase in the value of their teams are now confronted with the challenges posed by inheritance and estate taxes. As many team owners are aging, the issue of smooth ownership transitions to the next generation has become a pressing concern. Despite having complex tax and succession plans
The world has seen a significant increase in the population of crypto millionaires over the past year, with a staggering 95% surge in individuals holding more than $1 million in crypto assets. According to a report from New World Wealth and Henley & Partners, the number of pure bitcoin millionaires has more than doubled, reaching
The recent auction sales during Monterey Car Week have raised some eyebrows as they fell 3% from last year. This drop can be attributed to a shift from older to newer cars, which has resulted in a pileup of unsold classics from the 1950s and 1960s. Total sales at this year’s five car auctioneers in
Luxury mogul Bernard Arnault, the CEO of LVMH, is known for his high-net-worth status and successful ventures. Recently, he has been making headlines for his investments in artificial intelligence (AI) companies. In a surprising move, Arnault has been shopping for AI companies through Aglaé Ventures, his tech-focused venture firm and family office. This marks a
The private jet industry has experienced a significant decline in flights during the first half of the year. Private jet charter flights dropped to 610,000, down from 645,000 the previous year and 716,000 in 2022. This decrease highlights the ongoing correction in the world of private aviation as the surge of new jet card members
The legal industry rankings show that Nevada has become the top state in the country for asset-protection trusts, with its favorable taxation policies, secrecy protections, and strong defense against creditors making it an attractive location for protecting family assets. The state does not disclose the total amount of assets in its trusts, but experts estimate
Wealthy investors and family offices have been gradually moving away from stocks and towards private markets as a strategic shift in their investment holdings. This trend has been influenced by concerns about an overheated tech sector and a desire for more stability and control over their investments. According to surveys, family offices now have a
Luxury fashion house Dolce and Gabbana recently launched a perfume for dogs, priced at over $100, sparking concerns from animal welfare organizations. The fragrance, named Fefé after the pet dog of brand-owner Domenico Dolce, boasts a blend of “fresh and delicate notes of Ylang Ylang, Musk, and Sandalwood” and comes in a lavish green lacquered