Wealth

Amazon CEO Jeff Bezos donated $33 million in college scholarships for “dreamers” — childhood undocumented immigrants granted stay in the country under the Obama-era Deferred Action for Childhood Arrivals program. TheDream.Us, a nonprofit working toward college access for undocumented immigrants, said the donation from Bezos and his wife MacKenzie is the largest in the organization’s
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David Paul Morris | Bloomberg | Getty Images Kenneth Griffin, founder and chief executive officer of Citadel LLC Ken Griffin is smashing real estate records left and right. In recent years, he’s purchased the most expensive home ever sold in Manhattan. He’s purchased the most expensive home ever sold in Miami. And he’s building what
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Jeff Bezos’ wealth hit $105.1 billion, according to the Bloomberg Billionaires Index, passing Microsoft co-founder Bill Gates’ previous record from 1999. Bezos‘ net worth nudged upward thanks to a rise in Amazon stock, which is up 6.6 percent year to date. Bezos first passed $100 billion in November on impressive Black Friday sales. It seems
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The Saudi government declined to comment about the chateau to the Times, but has disputed reports that a Saudi royal purchased the da Vinci on behalf of Crown Prince Mohammed. In light of the anti-corruption arrests, the chateau and yacht purchases send signals that are inconsistent with Crown Prince Mohammed’s social and economic reforms, said
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Online platforms offering rentals or shares in everything from glitzy watches to sports cars are making inroads in the luxury goods market, as a shift in consumer habits begins to head up market. Playing off the sharing economy model popularized by the likes of Airbnb, such companies invite people to enjoy luxury brands without spending
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If you read the headlines, the spoils of the Republican tax plan will disproportionately benefit the wealthy. It’s been called a “tax cut for the rich,” “a Christmas gift for the wealthy” and more. And that’s true: Any back-of-the-envelope math shows that in both dollar terms and in percentage terms, the largest tax cuts clearly
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The Republican tax plan may still be in flux. But the wealthy are already taking steps to avoid some of the most costly parts of the plan and reduce their taxes. Wealth management firms and accountants to the rich are scrambling to prepare their clients for the biggest set of tax changes since 1986. While
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The tax-reform bill and its changes to state and local tax deductions has pundits predicting a mass exodus of rich people from New York, California and other high-tax states. Yet a close look at the data suggests that while some high-earners may move, their numbers may be relatively small. Both the House and Senate tax
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News that Saudi Arabia’s Crown Prince Mohammed Bin Salman bought the $450 million Leonardo da Vinci painting came as a shock to the Western world. But to those who have followed the Prince, it’s just the latest in a series of jaw-dropping purchases. The Wall Street Journal reports that Prince Mohammed was the mystery buyer
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Mexico’s secretary of tourism disputed reports of tainted alcohol and described warnings about criminal activities from the U.S. State Department as “misleading” on Wednesday. “There is no evidence about tainted alcohol,” Enrique de la Madrid Cordero said on CNBC’s “Power Lunch.” Cordero said the case he reviewed concerned “excessive alcohol” — a problem associated with
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“Every resident downloads a proprietary app that allows you to call your car from valet, or pay your rent, or communicate with the staff anywhere in the building,” says Monir. The building’s most futuristic feature is its robot butler named Charley, which has been programmed to navigate elevators and hallways in order to serve residents.
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