Millennials are on the cusp of receiving the largest wealth transfer in history, estimated at a staggering $90 trillion over the next two decades. This is set to make them the wealthiest generation to date, surpassing the silent generation and baby boomers. However, the question remains, are millennials adequately equipped to handle this significant influx
Wealth
Ferrari is notorious for its high-performance combustion engine sports cars, but the luxury automaker is making a bold move by entering the electric vehicle market. Ferrari CEO Benedetto Vigna recently revealed that the all-electric Ferrari model is in the works and is expected to be launched in the fourth quarter of 2025. Despite the electric
The latest research from Henley Private Wealth Migration Report highlights the United Arab Emirates (UAE) as the leading wealth magnet for the third consecutive year. An unprecedented net inflow of 6,700 millionaires from around the world is expected by the end of 2024, positioning the UAE at the forefront of global wealth migration. In comparison,
The $84 trillion Great Wealth Transfer expected to occur in the next 10 years will have a significant impact on different generations. While millennials and Generation Z are often highlighted as the primary beneficiaries of this transfer as baby boomers pass down their fortunes, a new study suggests that Generation X may actually receive the
Christina Lewis, the daughter of Reginald Lewis, founder of TLC Beatrice International, had a turbulent experience with wealth management at a very young age. After inheriting a large fortune following the sudden passing of her father, she navigated through six different institutional wealth managers and 12 relationship managers over the span of 30 years. This
In a recent survey conducted by BNY Mellon Wealth Management, it was found that family offices are increasingly moving away from traditional investment models and are now investing directly in companies. The survey revealed that a majority of family offices made multiple direct investments in private companies last year, with an even larger number planning
The United States experienced record growth in millionaires in 2023, according to a report from Capgemini. The millionaire population in the U.S. grew by 7.3% to reach 7.5 million people. Their combined fortunes skyrocketed to $26.1 trillion, marking a significant 7% increase from the previous year. Notably, the fortunes of individuals at the very top
Aston Martin, the iconic British sports carmaker, is gearing up for a significant transformation under the leadership of Executive Chairman Lawrence Stroll. Stroll, a former fashion mogul turned billionaire, has spearheaded a comprehensive plan to revitalize the brand and steer it towards profitability after years of financial struggles. With a flurry of new models in
Housekeepers in Palm Beach and South Florida are currently experiencing a surge in demand, with salaries often exceeding $150,000 per year. The mass influx of wealthy individuals from high-tax states like New York to Florida has led to bidding wars between mansion owners and a shortage of household staff in elite Florida enclaves, particularly in
Family offices, which manage the finances and investments of high net worth individuals, are facing an increasing risk of cyberattacks. According to a recent survey by Dentons, a global law firm, 79% of North American family offices believe that the likelihood of a cyberattack has significantly increased in recent years. The survey also found that