Wealth

Some dealers say the buyer is likely an American, since there is only one da Vinci in the U.S. — currently at the National Gallery in Washington — and it would make sense for a billionaire to buy it and donate it to a museum in New York or L.A. Others say the price suggests
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When it comes to the much-ballyhooed business of disruption, if you can’t beat them, join them — and do a little disrupting of your own. That was the message to financial advisors unsettled by the rise of robo-advisors and other industry disruptors from speaker and writer Julie Littlechild, speaking at Charles Schwab’s IMPACT 2017 confab
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The wealthiest 1 percent of the world’s population now owns more than half of the world’s wealth, according to a new report. The total wealth in the world grew by 6 percent over the past 12 months to $280 trillion, marking the fastest wealth creation since 2012, according to the Credit Suisse report. More than
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A ring featuring an extremely rare 37.30-carat pink diamond is hitting the auction block Wednesday. “The Raj Pink” is the world’s largest known fancy intense pink diamond. “Color diamonds are exponentially rarer than white stones,” said Sotheby’s international jewelry specialist Brett O’Connor. “The stone is … right up at the very top. It has size,
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Two of the largest yellow diamonds ever offered for sale will be hitting the auction block in Geneva on Wednesday. The pair of rocks, called the Donnersmarck Diamonds, total more than 185 carats and once belonged to French nobility. They are part of the collection of La Paiva, a 19th-century French courtesan turned countess, who
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Eighteen emerald-cut diamonds adorn one side of the necklace, while emeralds decorate the other. Its centerpiece is the colorless diamond: a D color, IIA type diamond — the rarest and most valuable kind. “It goes perfectly — the main stone with the necklace, it looks like just a beautiful piece,” said Fawaz Gruosi, the founder
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When Thomas Gallagher was 17, he worked as a clerk on the floor of the New York Stock Exchange and put $10 a week into an account at Irving Bank. “That was my discipline, my savings,” Mr. Gallagher said. “Back then, the goal was to have enough money to buy Christmas presents.” Mr. Gallagher, who
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Mary Turner | Reuters Commerce Secretary Wilbur Ross, speaks at the Conferederation of British Industry’s annual conference in London, Britain, November 6, 2017. Turns out Commerce Secretary Wilbur Ross may have greatly exaggerated his wealth, according to a report from Forbes. Just a year ago, Forbes listed Ross’ net worth at $2.9 billion and included
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Ecuador may not be the first place North Americans think of visiting, but it has a variety of climates, from mild spring-time in the mountains to toasty beach weather on the coast, a comfortingly consistent 12-hours of daylight all year and a very convenient currency: the U.S. dollar. To apply for Ecuadorean residency as a
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Under current rules, itemizers can take a deduction for losses related to the “damage, destruction or loss of your property from any sudden, unexpected or unusual event such as a flood, hurricane, tornado, fire, earthquake, or volcanic eruption,” according to the IRS. This also includes theft losses. It covers your home, vehicle or possessions that
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Getty Images House Way and Means Chairman Kevin Brady (L) (R-TX) and Speaker of the House Paul Ryan (R) (R-WI), joined by members of the House Republican leadership, introduce tax reform legislation November 2, 2017 in Washington, DC. The GOP’s tax plan contains a little-noticed tax hike on big earners that could add another $12,000
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Lucy Nicholson | Reuters Ken Griffin, founder and Chief Executive Officer of Citadel, speaks during the Milken Institute Global Conference in Beverly Hills, California, May 1, 2017. Billionaire businessman Ken Griffin is donating $125 million to the University of Chicago’s Department of Economics. The university announced Griffin’s gift Wednesday, saying it’s the second-largest in school
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EVERSOFINE | Getty Images Many of life’s downturns can be weathered if you’ve already managed to build yourself a strong financial foundation. I’ve seen many families lose everything because they didn’t have enough life insurance. I often hear about people who use their retirement investments to pay for unexpected expenses. I’ve talked with families stuck
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An online investment platform that allows Chinese investors to access a number of “alternative” U.S. investments officially launched Monday. Financial technology firm MarketX lets upper-middle class and institution Chinese investors to invest in tech firms that have not yet issued shares to the general public. These include such notable names as ride-hailing giant Lyft, music
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The consultancy group foresees retail funds, including exchange-traded funds (ETFs), to almost double by 2025 and growing investments in alternative areas, such as real estate and land, private equity and private debt. Asset managers will also be overseeing greater global retirement and pension funds, PwC said. Despite the optimistic future for wealth managers, PWC suggested
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There are fewer listed companies in the United States today than there were in 1976, despite the fact that the country’s gross domestic product is three times larger now than it was then. Take that in for a moment. With the Dow Jones, S&P 500 and Nasdaq indexes each kicking off the fourth quarter at
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Experts who talk of artificially intelligent (AI) robots reaching divine status should “absolutely not be allowed” to create a machine smarter than humans, Elon Musk warned on Twitter. The Tesla and SpaceX CEO was addressing an article from tech news site VentureBeat about the possibility of an AI “god” emerging by 2042. TWEET One of
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