Shenzhen city skyline.Photographer is my life. | Getty ImagesChina's Shenzhen has recorded the fastest growth in millionaires over the past decade, and is poised to see a further influx in the coming years, according to a recent report.Shenzhen recorded 140% growth in millionaire count, according to the report from New...
Category: Wealth
An art market full of cracks is about to face a $1 billion test
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The key May art sales at major auction houses are expected to be down from last year, as wealthy...
Equinox launches $40,000 membership to help you live longer
High-end fitness chain Equinox is launching one of the most expensive gym memberships in the world — a $40,000-per-year program aimed at improving overall health and longevity.Equinox is teaming up with lab-test startup Function Health to launch "Optimize by Equinox," a personalized health program that includes everything from personal training...
Family offices are looking beyond the stock market for higher returns, new report finds
Large family offices have nearly half their investments in private markets and alternatives, as they move out of the stock market in search of higher returns and lower volatility, according to a new study.Family offices have 46% of their total portfolio in alternative investments, which includes private equity, real estate,...
The new class war: A wealth gap between millennials
Klaus Vedfelt | Digitalvision | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The wealth gap between rich millennials and the rest of their age group...