The world of luxury fashion and the Olympics have collided in an unprecedented way with LVMH becoming the first luxury brand to sponsor the Olympic Games. This groundbreaking partnership is not just a simple sponsorship deal; it is a strategic move by LVMH to showcase something never seen before in the history of the Olympics.
Wealth
In the ever-evolving landscape of wealth distribution, the number of individuals worth $30 million or more has seen a significant 8% increase in 2023. This surge has brought the total population of ultra-high-net-worth (UHNW) individuals to 426,330 worldwide, as reported by Altrata’s World Ultra Wealth Report 2024. It is worth noting that the United States
Luxury fashion brand Hugo Boss recently experienced a significant downturn in its shares, with a plunge of up to 10% following a cut in its sales outlook. This decline is indicative of the broader challenges facing the luxury sector, as high-end fashion lines struggle to navigate through macroeconomic and geopolitical uncertainties. The German fashion house
In the next two to three decades, it is estimated that aging baby boomers and older generations will pass down a staggering $84 trillion in wealth to charity and family members. This phenomenon, termed the “horizontal wealth transfer,” is set to redistribute up to $9 trillion between spouses and partners. The UBS Global Wealth Report
The highly anticipated weekend mega wedding in India has garnered global attention, as the youngest son of Mukesh Ambani, Asia’s wealthiest man, prepares to exchange vows with his long-time sweetheart in a lavish ceremony. The three-day celebration, kicking off on Friday, is set to be a star-studded event, with high-profile guests from various sectors of
The UBS 2024 Global Wealth Report predicts a continued increase in the number of global millionaires over the next five years. This growth is expected across 52 out of 56 economies, spanning both developed and developing nations. Leading this surge is Taiwan, with a projected 47% rise in millionaires fueled by the flourishing microchip industry
Millennials are said to be on the brink of becoming the wealthiest generation in history, with estimates indicating a whopping $90 trillion wealth transfer within the next two decades. As older generations, such as the silent generation and baby boomers, start passing on their assets to millennials, it begs the question of whether this younger
Ferrari CEO, Benedetto Vigna, has announced that the iconic luxury car brand will be launching an all-electric model in the fourth quarter of 2025. This bold move is seen as a significant step for Ferrari, a company known for its roaring combustion engines. Vigna emphasized that despite the switch to electric powertrains, the emotional experience
The United Arab Emirates is set to be the world’s leading wealth magnet for the third year in a row, attracting an unprecedented net inflow of 6,700 millionaires from around the world by the end of 2024. This data comes from the Henley Private Wealth Migration Report, signaling a significant shift in the global landscape
The $84 trillion Great Wealth Transfer set to occur in the next decade is poised to have a significant impact on the financial landscape. While millennials and Generation Z are often the focus when discussing inheritances from baby boomers, a new study reveals that it is Generation X that may actually receive the largest windfalls