The new Gucci store on Bond Street on 27th September 2023 in London, United Kingdom. Mike Kemp | In Pictures | Getty ImagesShares of French luxury group Kering sank more than 9% at open on Wednesday, after the company warned it expects a sharp downturn in first-half profits as a result of waning...
Category: Wealth
Superyacht sales plunge as wait times rise, Russian oligarchs drop out of the market
A water slide on Savannah, a 274-foot hybrid superyacht.Courtesy of Northrup & JohnsonA 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.Superyachts sales took a dive in 2023,...
State tax officials are using AI to go after wealthy payers
Photo Of Robot Examining Invoice With Magnifying Glass.Andreypopov | Istock | 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.Even as the IRS makes headlines for...
Winning ticket for Mega Millions $1.128 billion jackpot sold in New Jersey — here’s how much the winner will owe in taxes
Xavier Lorenzo | Moment | Getty ImagesThere is officially one winner for the $1.128 billion Mega Millions jackpot — and the taxman will take a sizable share, experts say.A single ticket sold in New Jersey won the game's fifth-largest grand prize after matching all six numbers drawn Tuesday night, Mega...
The wealth of the 1% just hit a record $44 trillion
Martin Puddy | 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 of the top 1% hit a record $44.6 trillion at the...