All articles tagged with #ultrawealthy
A proposed pied-à-terre tax on NYC second homes valued over $5 million could raise about $500 million annually for priorities like childcare, transit, and safety, but has drawn sharp opposition from ultrawealthy investors and business leaders who warn it could drive wealth out and hurt New York’s economy; the plan has not yet been enacted.
Private jet travel is experiencing a boom in 2025, driven by increased demand from the ultrawealthy, a desire for privacy, and more accessible ownership models, with the industry seeing a 5% rise in flights and new luxury jets like the Gulfstream G700.
The article humorously explores the extravagant and often absurd demands of the ultrawealthy, as experienced by travel agent Olivia Ferney, who shares stories of their peculiar requests and complaints, highlighting how they rarely hear the word 'no' and often go to great lengths to satisfy their specific preferences.
The article explores the extravagant and often humorous demands of ultrawealthy clients managed by travel advisor Olivia Ferney, highlighting their particular preferences, high expectations, and the humorous behind-the-scenes stories she shares on social media.
Miami leads the top cities where ultra-high-net-worth individuals are buying second homes in 2025, with emerging hotspots like Lisbon, Dubai, and Naples gaining popularity due to lifestyle, tax benefits, and security. These second homes are increasingly viewed as multi-purpose assets for wealth diversification, security, and mobility, reflecting a shift in luxury real estate priorities among the global elite.
Jeff Bezos and Lauren Sánchez are likely to have a complex prenup given Bezos's $200 billion net worth, involving detailed disclosures, protections for business interests, property, and inheritance considerations, reflecting common practices among the ultrawealthy to safeguard assets in marriage and potential divorce or death scenarios.
A report by Americans for Tax Fairness reveals that Americans worth over $100 million held $8.5 trillion in untaxed profits in 2022, primarily from unrealized capital gains. This wealth, concentrated among 0.05% of households, may escape taxation without legislative changes. Proposals like the "Billionaires Income Tax" and ending the stepped-up basis loophole aim to tax these gains and could generate significant revenue. However, these proposals lack Republican support. The current tax system exacerbates wealth and racial disparities, with the majority of this untaxed wealth held by white households.