In the world of luxury, Hermès is arguably the gold standard.Its sales are growing double digits even as other luxury companies post declines or dramatically slower growth. Wealthy customers lucky enough to be anointed as Birkin-bag worthy can purchase a Birkin 25 for about $11,000 and flip it the same day...
Category: Wealth
The U.S. added 500,000 new millionaires last year as AI fueled markets
B2m Productions | Digitalvision | Getty ImagesThe U.S. far outpaced the rest of the world in minting millionaires last year, adding 500,000 new millionaires and powering record fortunes at the top, according to a new study.America's millionaire population grew 7.3% in 2023 to 7.43 million people, according to a report...
Millionaires are abandoning the UK in droves, new research shows
Zhangkun | Moment | Getty ImagesLONDON — A record number of millionaires is expected to leave the United Kingdom this year, according to new research, with this year's general election expected to further exacerbate the exodus.The Henley Private Wealth Migration Report indicates that Britain will experience a net loss of...
Ferrari CEO says all-electric model preserves the ’emotion’ of the famed supercars
Ferrari's all-electric model won't be launched for over a year, but early tests indicate it has all the driving traits and emotion of a true Ferrari, according to Ferrari CEO Benedetto Vigna."The final judge will be the client," Vigna told CNBC during the opening of the company's new E-Building in...
Gen X stands to gain the most wealth from the $84 trillion wealth transfer
Fg Trade | E+ | Getty ImagesGeneration X may be the biggest beneficiary from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study.While millennials and members of Generation Z are expecting the biggest inheritances in the coming years as baby boomers pass down...