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Francis Bacon self-portrait sold tonight in London for $7 million at the beginning of a week of
auctions that will test international demand for contemporary art.
The U.S. has collected more than $5 billion resulting from taxpayers'
disclosures of offshore accounts, the Internal Revenue Service said
today.
Mikhail Fridman, a billionaire shareholder in Russia's Alfa Group,
helped create a $1 million "Jewish Nobel Prize" to be awarded annually
with the Israeli government.
Thousands of
rent-controlled tenants in Mumbai
are being turned into millionaires by developers tearing down crumbling
colonial mansions to build luxury towers for the rich.
by
Kathy Lynch
BNY Mellon, Genworth Financial Wealth Management and TD Bank are among the firms that have hired new personnel.
Greenlight
Capital Inc. co-founder David Einhorn entered next month's $1 million
buy-in tournament at the World Series of Poker, donating any profits to
the charity City Year.
by
Karen DeMasters
Terrorism, climate change and pandemics are among the risk factors
wealthy families should include in their strategic planning in today's
environment, according to a new study.
Oracle Corp. Chief Executive Officer Larry Ellison has agreed to buy 98
percent of the Hawaiian island of Lanai, according to the current
landowner and the state's governor.
by
Karen DeMasters
CAIS, a New York based technology company, has expanded its wealth
management platform to include private equity in its lineup of
alternative investment options, CAIS announced Thursday.
For the third straight year, May proved a disaster for hedge funds that
specialize in commodities as raw materials from copper to oil fell into
bear markets.
by
Karen DeMasters
Commodities, real estate and private equity are the top investment choices among ultra-high-net-worth families this year, according to a new survey.
by
Dorothy Hinchcliff
Bank of America Corp., the second-biggest U.S. lender, eliminated some
managers from a unit catering to wealthy families as it cuts costs, said
two people with knowledge of the move.
by
Karen DeMasters
Among the very wealthy, those born after the baby boom
generation have more in common, in some ways, with those born before
the baby boomers, according to a new study.
JPMorgan Chase
& Co.'s Deepak Gulati is holding talks with investors as he considers leaving the bank to start a hedge fund, said
four people with knowledge of the discussions.
by
Kathy Lynch
Behringer Harvard, Beverly Hills Wealth Management and BNY Mellon have hired new managers.
Billionaire Carlos Slim, who used his telecommunications dominance in
Mexico to become the world's richest person, faces mounting competition
in his home market.
Rich individuals in China, which two years ago became the world's
second-largest art market, hold more of their wealth in collectible
assets than their peers anywhere in Asia.
Liechtenstein has told American clients of the
principality's oldest bank that U.S. authorities have requested their
account data as they widen a tax-evasion probe.
Hedge-fund manager Paul Sinclair is the latest casualty of Europe's
sovereign-debt turmoil, almost six thousand miles away from the
epicenter of the crisis.
by Lisa A. Ditkowsky
A cast of experts gathered in New York City recently to give advisors a comprehensive rundown on what it takes to start and operate a multifamily office.
