Wealth

The glitz and glamour of summer box-office hit “Crazy Rich Asians” sought to shine a light on an exclusive subgroup of the wealthy elite. But, instead, it pointed to a fast-expanding proportion of Asian society. That’s according to a new report from data firm Wealth-X, which found that Asia is now creating more ultra wealthy
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Hong Kong now has more multimillionaires than New York, as the world’s wealth-creation machine moves East and China’s big cities are minting millionaires at a record pace, according to a new report. The number of people worth $30 million or more grew 13 percent in 2017, to 255,810 worldwide, according to the World Ultra Wealth
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Various long-term studies have shown that, net of fees, actively managed mutual funds tend to underperform the S&P 500. This mounting evidence has prompted various huge institutional investors, such as the California Public Employees’ Retirement System (CalPERS) to move much of their assets into passive vehicles. One problem some investors may have with evidence-based investing
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The cuts follow a spate of even bigger cuts earlier this year. The $250 million mansion in Bel Air California known as “The Billionaire” became America’s most expensive listing when it came onto the market for $250 million in 2017. In April, the price was cut by a massive $62 million, to $188 million. Brokers
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European soccer’s Champions League trophy has found a home in Madrid for the past three seasons, as Real Madrid’s three successes in a row has meant it has had a firm grip on the title. On June 1 next year, the famous cup will again be in the Spanish capital for this season’s final. Atletico
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George Clooney may be taking a hiatus from the big screen, but he’s still cashing in. The 57-year-old ranks as the highest-paid actor of the year, according to Forbes’ 2018 list of top male earners, which was released Wednesday. Clooney took in $239 million in pretax earnings, thanks to a lucrative business venture, endorsements and
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