Bessent Declares Widening Gap Between Rich and Poor ‘Dead’
Treasury Secretary Scott Bessent downplayed the impact of inflation on lower-income Americans, declaring this week that the “K-shaped” economy — ...
Tag: High Net Worth Individuals
The Ultra-Rich Are Moving to Miami, and Want Their Money Managers There, Too
The billionaire investor Peter Thiel broke rental records in June when he leased space in Miami’s Brickell neighborhood for $250 ...
Blockbuster I.P.O.s Are Creating New Millionaires. Philanthropies Want a Cut.
As a series of blockbuster I.P.O.s mint a new crop of the ultrawealthy, nonprofits are scrambling to figure out how ...
How Wealthy People Are Getting to World Cup Games
For the ordinary fútbol fan, the nine-mile journey from Manhattan to the World Cup stadium in New Jersey is as ...
The Rise of Racetrack Country Clubs: ‘Racing Is Golf on Steroids’
A paradox played out in Miami during a recent Formula 1 weekend: On fashionable city streets, a tangled toy box ...
In San Francisco’s A.I. Era, Even $180,000 Tech Salaries Are No Longer Enough
“I thought when I’d make $200k I would be able to basically not worry about money at all,” she said, ...
About 20 New Billionaires Could Be Minted by 3 Mega-I.P.O.s
The back-to-back-to-back round of massive public offerings that began this week is going to make a select group of employees ...
Wages Are Falling. Wealth Is Surging. No Wonder Americans Are Unhappy.
Two events from the past week help crystallize this strange, contradictory moment for the U.S. economy.On Wednesday, the Bureau of ...
Musk Is the World’s First Trillionaire. Who Was the First Billionaire?
On Friday, the world’s richest person, Elon Musk, became its first trillionaire, following a record-setting initial public offering from SpaceX, ...
SpaceX Finalizes IPO Price at $135 a Share in World’s Largest Public Offering
SpaceX, which has contracts with NASA and other federal agencies, had long been something of a financial mystery. Last month, ...
Antonio Gracias, Elon Musk’s Friend, Is Set to Reap Billions From SpaceX’s IPO
For 25 years, Antonio Gracias has dedicated himself to serving as one of Elon Musk’s most loyal lieutenants, doing anything ...
How Tesla’s Stock Listing in 2010 Enabled SpaceX’s I.P.O.
Tesla had sold barely 1,000 cars when the company’s chief executive, an up-and-coming entrepreneur named Elon Musk, rang the opening ...
SpaceX’s IPO Will Turn 4,400 Employees Into Millionaires
As Trevor Hise was getting ready to graduate from college in 2011, his parents wanted him to take what they ...
How Banks Are Using the SpaceX IPO to Woo the Super Rich
On the 51st floor of JPMorgan’s gleaming Midtown headquarters, 350 wealthy investors gathered last week to hear directly from Elon ...
People Love to Hate This Fake Private Equity Guy
In little more than a year, Johnny Hilbrant Partridge, a former spin-class instructor, has vaulted from obscurity to social media ...
In Argentina, U.S. Tech Billionaire Peter Thiel Finds An Escape
The Saturday tournament at the Buenos Aires chess club hosted its usual lineup of players, including an accountant, a college ...
Ferrari Unveils Luce, Its First Fully Electric Car
Ferrari just pulled the cover off Luce, its first fully electric car. The five-seater is one of the biggest gambles ...
Inside the Elon Musk-OpenAI Trial Courtroom
Most of what we see of Elon Musk and Sam Altman, two of Silicon Valley’s most powerful men, comes in ...
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