Auction sales during Monterey Car Week experienced a 3% decline from the previous year, which can be attributed to a shift from older classic cars to newer models. This change in preference has left a surplus of unsold classics from the 1950s and 1960s, signaling a transformation within the high-end car market. This transition was
Wealth
Luxury king Bernard Arnault, the founder and CEO of LVMH, has been making waves in the tech world with his recent investments in artificial intelligence (AI) companies. With a net worth of $184 billion, Arnault has been leveraging his tech-focused venture firm and family office, Aglaé Ventures, to make significant AI-related investments over the past
Private jet flights have seen a significant decline in the first half of 2024, with a 15% drop from their peak in 2022. This decline is attributed to waning demand and increased competition in the high-end travel sector. Despite a brief surge in private jet flights to Paris during the Summer Olympics, the overall trend
The Murdoch family feud in a Nevada court sheds light on the state’s increasing reputation as a global hub for family trusts. Nevada has been named the top state in the country for asset-protection trusts, offering a combination of benefits like no income taxes, secrecy protections, and strong defenses against creditors. The state’s trust industry,
Wealthy investors and family offices have been making strategic decisions to adjust their portfolios leading up to recent market swings. According to wealth advisors, many high-net-worth individuals have been reducing their exposure to stocks over the past year in favor of private markets. This shift is partly due to concerns about an overheated tech sector
Dolce and Gabbana’s recent release of a luxury perfume for dogs has caused quite a stir in the animal welfare community. With a price tag of over $100, the fragrance mist for dogs has raised questions about the well-being of our furry companions. The perfume, named Fefé after brand-owner Domenico Dolce’s pet dog, is described
India is experiencing a significant increase in ultra high net worth individuals (UHNWIs) with projections indicating the fastest growth globally in the coming years. Mumbai, as India’s financial capital, has surpassed Beijing to become Asia’s leading billionaire hub, ranking third globally in billionaire count after New York and London. The UHNWI population in India saw
Jeff Bezos, the founder of Amazon, is well-known for his extravagant purchases like multi-million dollar properties and luxurious yachts. However, his latest investment spree has been in the realm of artificial intelligence (AI) through his family office, Bezos Expeditions. According to exclusive data from FINTRX, all of Bezos’ family office investments this year have been
The United Arab Emirates continues to solidify its position as the world’s top wealth magnet, attracting high-net worth individuals from around the globe. According to the Henley Private Wealth Migration Report, the UAE is poised to see a record net inflow of 6,700 millionaires by the end of 2024. This influx is driven by factors
Family offices are facing a fierce battle for talent in today’s competitive landscape. As these private investment arms of single families continue to grow in size and number, they are competing directly with private equity firms and venture funds for top staff. In response to this challenge, family offices are revamping their compensation plans by