Wealth

China’s billionaire population is on the rise. Today, the country is home to 10 percent of the world’s almost 2,400 billionaires, according to the latest report from Wealth-X. But, perhaps more notably, a massive 94 percent of them are self-made. Growth in China’s technology, consumer retail and real estate sectors over the past five to
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Public school superintendents listen up. Abington High School, outside Philadelphia, just got one of its former students, billionaire private equity titan and philanthropist Steve Schwarzman, to donate $25 million. How did the school do it? Schwarzman, co-founder of Blackstone Group, told CNBC on Thursday: “I was asked. That’s always the way something happens.” “It starts
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Women, in particular, are making significant strides when it comes to savings. The percentage of female 401(k) millionaires doubled in the past dozen years, Fidelity found, climbing to 20 percent in 2017 from 10 percent in 2005. Nearly 3 in 10 savers increased their contribution rate over the last year, Fidelity said. The average 401(k)
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The U.S. added more than 400,000 new millionaires last year, with most of those concentrated on the coasts in high-tax, predominantly blue states. According to the Phoenix Wealth and Affluent Monitor, by Phoenix Marketing International, there were a total of 7.2 million millionaire households in 2017 — up 6 percent from 2016. Phoenix defines millionaire
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In statements issued around the Journal report, Wynn denied he had ever assaulted anyone, and his company said the newspaper report reflected allegations made in court by his ex-wife “in her legal battle with him and the company.” Still, Wynn Resorts formed a special committee to investigate the allegations, according to a board statement. In
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America’s 50 largest charitable donors gave away $14.7 billion last year, with Bill and Melinda Gates leading the list with a $4.8 billion donation to their foundation, according to a new report. Giving by the top 50 donors more than doubled in 2017, soaring to $14.7 billion from $5.6 billion in 2016, according to the
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In the November crackdown, the Saudi government arrested and detained several hundred businessmen, senior officials and Saudi royals like Alwaleed, many within the Ritz-Carlton hotel. Multiple reports, citing anonymous sources, have suggested that detainees handed over assets in order to buy their freedom. Alwaleed, the billionaire owner of international investment company Kingdom Holding, told Reuters
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