Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after it reported record full-year sales even as Asia Pacific spending waned.
While the spring sales typically have more than a dozen works offered for more than $30 million each, this year there are just a few.
https://www.cnbc.com/2024/05/10/art-sales-down-collectors-pull-back.html
CNBC's Robert Frank joins 'Squawk Box' with the latest news from the art market.
https://www.cnbc.com/video/2024/05/10/1-billion-test-for-the-art-market-heres-what-to-know.html
Members of Britain's exclusive all-male Garrick Club voted on Tuesday to permit women to join the institution for the first time in its 193-year history.
The U.S. is increasing its lead as the largest creator of millionaires and billionaires in the world.
https://www.cnbc.com/2024/05/07/worlds-richest-cities-new-york-tops-new-list.html
"Optimize by Equinox" is a personalized health program that includes everything from personal training and nutrition to sleep coaching and massage therapy.
https://www.cnbc.com/2024/05/06/equinox-launches-40000-optimize-membership.html
Wealthy families are spending an average of $3 million to run their family offices, according to a J.P. Morgan Private report, and the biggest cost is staffing.
Unlike stocks, alternatives such as private equity and private companies have more gradual valuation changes, smoothing out volatility.
The surge in wealth among millennial heirs is creating new markets for wealth-management firms, luxury companies, travel firms and real estate brokers.
https://www.cnbc.com/2024/04/26/wealth-gap-between-millennials-new-class-war.html
Shares of French luxury group Kering sank more than 9% Wednesday after the company warned it expects a sharp downturn in first-half profits as demand for its Gucci brand continues to wane.
Luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.
https://www.cnbc.com/2024/04/22/luxury-real-estate-prices-hit-an-all-time-record.html
The rise of family office-style medical practices reflects the surge in wealth and growing demand for hyper-personalized, data-driven health care.
https://www.cnbc.com/2024/04/22/meet-the-private-doctor-to-the-wealthy-at-40000-a-year.html
CNBC's Robert Frank reports on the booming part of the housing market.
There are about 28,420 centimillionaires globally, largely concentrated in New York City, the Bay Area, Los Angeles, London and Beijing.
CNBC's Robert Frank joins 'Squawk Box' with the latest news.
https://www.cnbc.com/video/2024/04/19/family-offices-triple-since-2019-heres-what-to-know.html
CNBC's Robert Frank joins 'Squawk Box' with a look at how states are using AI to go after wealthy taxpayers.
https://www.cnbc.com/video/2024/04/17/using-ai-to-go-after-wealthy-taxpayers-heres-what-to-know.html
Sales of superyachts took a dive in 2023, as long waiting lists, soaring costs and Russian oligarch sanctions hit demand.
New York state is sending out AI-generated letters looking for tax revenue, many of them focused on remote work or a change in tax residency.
https://www.cnbc.com/2024/04/15/state-tax-officials-use-ai-to-go-after-wealthy-payers.html
CNBC's Robert Frank joins 'Squawk Box' with the latest news.
https://www.cnbc.com/video/2024/04/10/rise-of-passport-portfolios-heres-what-to-know.html
The top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy, according to a leading law firm.
https://www.cnbc.com/2024/04/10/rich-americans-get-second-passports-citing-risk-of-instability.html
Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CN...
https://www.cnbc.com/video/2024/04/09/insider-sales-reach-3-year-high-heres-what-to-know.html
CNBC's Robert Frank joins 'Squawk Box' with the latest news.
https://www.cnbc.com/video/2024/04/01/stocks-drive-u-s-household-wealth.html
Economists say the rising stock market is giving an added boost to consumer spending through what is known as the "wealth effect."
https://www.cnbc.com/2024/03/28/wealth-of-the-1percent-hits-a-record-44-trillion.html
A single ticket in New Jersey won the $1.128 billion Mega Millions jackpot. Here is how much the winner will owe in taxes.
Mumbai is now the Asian capital with the most number of billionaires, according to Hurun Research Institute's global rich list.
There's still time to lower your 2023 tax bill or boost your refund with a spousal IRA for married couples. Here's who qualifies.
The Mega Millions jackpot hit an estimated $1.1 billion, the fifth-largest prize in the game's history. The winner could face these pitfalls, experts say.
Don't be a micromanaging boss, advises billionaire entrepreneur Mark Cuban. Here's why it can be toxic, and what to do if your supervisor is too overbearing.
https://www.cnbc.com/2024/03/22/mark-cuban-micromanaging-is-a-toxic-trait-with-one-exception.html
The population of millionaires in the U.S. over the past five years has grown nearly twice as fast as China’s.
https://www.cnbc.com/2024/03/22/the-us-is-the-top-country-for-millionaires-and-billionaires.html
Frédérique Carrier, RBC Wealth Management's head of investment strategy, says there is still value in luxury stocks over the long term, particularly after a recent retreat amid short-term marke...