Thomas Barwick | Digitalvision | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.Family offices are increasingly offering lucrative shares of equity and...
A view of the Central Park Tower at 217 West 57th St. in New York City.Source: Cody Boone, SERHANT StudiosA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions,...
Charday Penn | E+ | Getty ImagesUp to $9 trillion is expected to be passed along to spouses and partners in the coming years as part of what's being called "the horizontal wealth transfer," according to a new report.Over the next 20 to 30 years, aging baby boomers and...
In the world of luxury, Hermès is arguably the gold standard.Its sales are growing double digits even as other luxury companies post declines or dramatically slower growth. Wealthy customers lucky enough to be anointed as Birkin-bag worthy can purchase a Birkin 25 for about $11,000 and flip it the same...
A sign advertising a home for sale is displayed outside of a Manhattan building in New York City on April 11, 2024.Spencer Platt | Getty ImagesManhattan is becoming a buyer's market as apartment prices fell and inventory rose in the second quarter of 2024, according to new reports.The average...
Ferrari's all-electric model won't be launched for over a year, but early tests indicate it has all the driving traits and emotion of a true Ferrari, according to Ferrari CEO Benedetto Vigna."The final judge will be the client," Vigna told CNBC during the opening of the company's new E-Building...
Fg Trade | E+ | Getty ImagesGeneration X may be the biggest beneficiaries from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study.While millennials and members of Generation Z are expecting the biggest inheritances in the coming years as baby boomers pass...
Christina Lewis, founder of Beatrice Advisors, at her home office with a portrait of her father, Reginald Lewis.Cindy JohnsonChristina Lewis had her first asset allocation meeting with her wealth manager when she was 13.“I remember the meeting well,” Lewis said. “It was a turbulent time for my family. And...
Family offices are increasingly becoming their own private equity funds and investing in companies directly, according to a new survey.A majority (62%) of family offices made at least six direct investments last year, where they buy a stake in a private company or provide lending, according to the survey...
B2m Productions | Digitalvision | Getty ImagesThe U.S. far outpaced the rest of the world in minting millionaires last year, adding 600,000 new millionaires and powering record fortunes at the top, according to a new study.America's millionaire population grew 7.3% in 2023 to 7.5 million people, according to a...