Tag Archives: wealth

US household wealth has fallen by at least $5 trillion so far this year amid an intense market selloff, according to a JPMorgan Chase note seen by Bloomberg. The losses could amount to $9 trillion by year-end, it estimated. According to the report, US billionaires are the biggest losers in …

Norway announced on Thursday that the nation’s sovereign wealth fund, the world’s largest, lost $74 billion (- 4.9%) during the first quarter of the year due to the market turmoil caused by geopolitical tensions in Ukraine. According to the country’s central bank, which operates the $1.3 trillion fund, the world’s …

The 735 billionaires who call the US home have watched their wealth surge 62% over the last two years, reaching the shocking figure of $4.7 trillion, according to a report by Oxfam America released on Monday. While the billionaires’ wealth gains show no sign of slowing down, ordinary workers’ earnings …

Should every 18-year-old be handed €20,000? That’s what an influential German think tank believes. It may sound somewhat utopian or even outlandish, but those who call for its implementation argue that such a policy would be for the benefit of society.   The German Institute for Economic Research, for example, argues …

“I don’t have any offshore accounts, no tax shelters,” Musk told conservative satire website the Babylon Bee, adding that his wealth “isn’t some deep mystery.” When asked if H&R Block could do his taxes, he said: “H&R Block could easily do my taxes. I don’t need H&R Block, I could …

China’s wealth skyrocketed over the past two decades, the consulting company said according to Bloomberg, explaining that its net worth increased by a whopping 17 times from $7 trillion in 2000 to $120 trillion in 2020. The nation accounted for about one third of the global net worth increase over …

Investors interested in redeeming wealth management products for physical assets should contact their investment consultants or visit local offices, a unit of the company’s main Hengda Real Estate Group Co Ltd unit said in a WeChat post dated Saturday. The embattled corporation reportedly has an estimated 40 billion yuan ($6 …

The proportion of US dollars in the fund was reduced from 35% to zero, while the share of the British pound was lowered to 5%. The shares of the euro and the Chinese yuan were increased to 39.7% and to 30.4%, respectively. The share of the Japanese yen stands at …

Amazon shares jumped 4.7% on the announcement, prompting Bezos’ net worth to soar $8.4 billion on Tuesday alone. Bezos, who officially stepped down as Amazon’s CEO earlier this week but kept his 10.3% stake in the company, is now worth $211 billion – a record high since the Bloomberg index …

Titled “Silver Spoon Oligarchs,” the new study showed how the top 0.01% richest Americans retained their wealth in spite of what are supposed to be high taxes levied on the ultra-wealthy. Spoiler alert: they aren’t producing useful goods, running factories, creating jobs, or any of that nonsense – they’re hoarding what they …