In a remarkable intersection of high finance, art valuation, and digital influence, crypto investor Justin Sun’s recent purchase of a banana duct-taped to a wall—a work titled “Comedian” by Italian artist Maurizio Cattelan—has ignited fervent discussions about the evolving nature of art and value in an age dominated by digital currency and social media. The
Wealth
The global art market faces pivotal changes, indicating a period of decline that many did not foresee. According to the latest report from The Art Basel and UBS Survey of Global Collecting, auction sales at prestigious houses like Christie’s and Sotheby’s have plummeted significantly—26% from the previous year and a staggering 36% from the peak
In the contemporary investment landscape, family offices are becoming increasingly significant players, particularly in the startup realm. These private entities, representing the wealth and interests of affluent families, are shifting from traditional investment techniques toward more dynamic industries, including technology, biotech, and artificial intelligence (AI). This shift is not just a fleeting trend; rather, it
Burberry, a stalwart of British luxury fashion, finds itself at a pivotal junction as it grapples with declining sales and a shifting market landscape. The company’s recent announcement of the “Burberry Forward” strategy marks an ambitious attempt to rejuvenate its brand identity and reconnect with its core offerings. The decision to focus on heritage designs
The personal luxury goods market is poised for its first substantial decline since the aftermath of the Global Financial Crisis, according to the latest findings from Bain & Company. The anticipated downturn is largely driven by macroeconomic instability, with a significant economic slowdown in China adversely affecting consumer behavior. Personal luxury items—including high-end fashion, accessories,
Family offices, the sophisticated investment vehicles for ultra-high-net-worth families, are undergoing a transformative shift. Traditionally, these offices relied heavily on private equity (PE) funds to manage their investments in private companies. However, a recent survey conducted by Bastiat Partners and Kharis Capital reveals a significant trend: family offices are now looking to execute direct deals,
The upcoming election has stirred significant concern among wealthy Americans, prompting a surge in interest for overseas migration. As political tensions mount, experts are observing an unprecedented demand from high-net-worth individuals looking to secure second passports or long-term residency in foreign nations. Immigration attorneys are witnessing a markedly different demeanor this election cycle, with many
In recent years, the landscape of charitable giving has undergone a significant transformation, driven predominantly by the youthful spirits of wealthy Millennials and Gen Z. This demographic is not merely rewriting the rules of philanthropy; they are reframing the conversation entirely. A study by Bank of America Private Bank highlights that young, high-net-worth individuals view
Rolls-Royce has consistently embodied the pinnacle of automotive luxury, but with the opening of its first “Private Office” in Manhattan’s fashionable Meatpacking District, the brand is elevating exclusivity to unprecedented heights. This initiative is a strategic pivot towards a more personalized experience for its high-net-worth clientele, shifting the focus from mass production to bespoke craftsmanship.
In an era dominated by technological advancement, few have shown the same foresight and adaptability as Laurene Powell Jobs. Widowed by the passing of Apple co-founder Steve Jobs, Powell Jobs has emerged not merely as a custodian of her late husband’s legacy but as a proactive investor with an eye on the future. With a