Christina Lewis’ journey into the world of wealth management began at the age of 7 when she started helping her father manage his stock portfolio. Even at such a young age, she was designated as her father’s “broker” and took an active role in tracking stocks and understanding the market. Her father’s passing at the
Wealth
In a recent survey conducted by BNY Mellon Wealth Management, it was discovered that family offices are transitioning into their own private equity funds, making direct investments into companies at an unprecedented rate. These family offices, which are the private investment arms of wealthy families, are increasingly taking a hands-on approach to investing by buying
The United States saw a remarkable increase in millionaires last year, standing out among other countries by adding 600,000 new millionaires. According to a report by Capgemini, the millionaire population in America grew by 7.3% in 2023, reaching a total of 7.5 million individuals. Their combined wealth surged to $26.1 trillion, up by 7% from
Aston Martin, under the leadership of Executive Chairman Lawrence Stroll, is poised to achieve a significant turnaround this year. With a fresh lineup of new models and a marketing boost from Formula 1, the sports car manufacturer is anticipating to become cash-flow positive soon. Stroll emphasized the importance of this transformative moment for the company,
Housekeepers in Palm Beach are experiencing a surge in demand, with salaries often exceeding $150,000. This increase in demand can be attributed to the mass wealth migration from high-tax states to Florida, especially elite enclaves like Palm Beach. Staffing agencies have noted that wealthy homeowners are now engaged in bidding wars to secure household staff,
Family offices, which manage the wealth of high net worth individuals, are increasingly becoming targets for cybercriminals. A recent survey conducted by Dentons revealed that 79% of North American family offices believe that the likelihood of a cyberattack has significantly increased in recent years. With only a quarter of family offices reporting that they have
Richemont, a leading Swiss luxury group, saw a surge in its shares by 6.3% following the announcement of record full-year sales. Despite a weakening outlook for luxury brands, the company reported a 3% increase in group sales, reaching a new high of 20.6 billion euros. This growth was achieved despite a slowdown in Asia-Pacific spending,
Shenzhen, China, has seen an unprecedented growth in millionaires over the past decade, making it the fastest growing city in terms of wealthy individuals. According to a recent report by New World Wealth and Henley & Partners, Shenzhen recorded a whopping 140% increase in its millionaire count. This growth far surpasses that of other major
Contrary to popular belief, being extremely wealthy does not shield individuals from emotional struggles. Therapists who work with the super-rich have noted that one of the main issues their clients face is chronic isolation. Living in the top 1% creates a bubble where very few people can relate to their experiences. The fear of not
The art market is experiencing a decline in auction sales as wealthy buyers and collectors take a step back from the frenzied prices seen in recent years. Major auction houses, including Christie’s, Sotheby’s, and Phillips, are projected to have total sales of $1.2 billion for the upcoming two weeks, representing an 18% decrease from last