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Wealth

July 2, 2014

The number of Millennials that own or employ socially responsible investments is significantly higher than in any other age group, according to a study that explores family dynamics in wealthy families. 

The number of Millennials that own or employ socially responsible investments is significantly higher than in any other age group, according to a study that explores family dynamics in wealthy families.

US Trusts’ Insights on Wealth and Worth 2014 found that 63% of Millennials, those born between 1980 and 2000, own or are interested in socially responsible investments compared with 40% of Generation X.  

Generation X is defined as people born between 1960 and 1980. 

June 24, 2014

From Brussels to Berlin and Westminster to Washington, family businesses are making themselves heard in the halls of power. But how much influence is enough and how much is too much?

June 18, 2014

Ultra-high net worth individuals shifted their focus from wealth preservation to wealth growth in 2013, according to new research, as the wealth of the world’s high net worth population grew 14% to $52.6 trillion. 

Ultra-high net worth individuals shifted their focus from wealth preservation to wealth growth in 2013, according to new research, as the wealth of the world’s high net worth population grew 14% to $52.6 trillion. 

The annual Capgemini/RBC World Wealth Report, which surveyed more than 4,500 individuals, found the world’s high net worth (HNW) population now sits at almost 14 million, up 15% on the previous year.

May 8, 2014

Three impressionist paintings from the estate of the late copper heiress Huguette Clark reached a combined total of almost $41 million (€29.4 million) at a recent Christie's auction in New York.

Three impressionist paintings from the estate of the late copper heiress Huguette Clark reached a combined total of almost $41 million (€29.4 million) at a recent Christie's auction in New York.

The trio of paintings included Monet's Water Lilies, which had hung in Clark's Fifth Avenue apartment, and had not been exhibited to the public since 1926 – it sold for $27 million.

April 30, 2014

Michael Dell's family office is likely to shed its corporate gardening company this spring in a deal expected to be worth at least $1 billion (€723 million).

Michael Dell's family office is likely to shed its corporate gardening company this spring in a deal expected to be worth at least $1 billion (€723 million).

Dell, the entrepreneur behind the eponymous software giant, bought ValleyCrest in 2007 for an undisclosed sum via his family office, MSD Capital.

April 24, 2014

A third gen of the Walmart dynasty is facing a difficult divorce from her husband of six years, after filing a civil lawsuit claiming he stole money from her during their marriage.

A third gen of the Walmart dynasty is facing a difficult divorce from her husband of six years, after filing a civil lawsuit claiming he stole money from her during their marriage.

Paige Laurie is divorcing her husband Patrick "Bo" Dubbert citing irreconcilable differences, but also lodged a civil suit on the grounds he siphoned cash from a business they operated together.

Laurie, the granddaughter of Bud Walton, the brother of Walmart founder Sam Walton, and Dubbert owned a shopping centre in Malibu that Dubbert managed.

April 3, 2014

Forget attending packed auctions and phone bids, buying a top-end collectible is now just a click away. 

In December of 2012 Edward Hopper’s painting October on Cape Cod (pictured, below right) was sold at auction by Christie’s for $9.6 million (€7.1 million). Nothing unusual about that, you might say. But the buyer wasn’t in the room, and not even on the end of a phone, but watching the auction live through an online stream. That is, so far, the most that anybody has paid for a painting while bidding over the internet.

March 20, 2014

Almost 60% of high net worth investors feel bullish about the investment outlook over the next 12 months, according to a new survey, the highest confidence has been since the global economic crash of 2008.

Almost 60% of high net worth investors feel bullish about the investment outlook over the next 12 months, according to a new survey, the highest confidence has been since the global economic crash of 2008.

Financial advisory company deVere Group said the number of investors who reported feeling bullish was up four percentage points from its 2013 poll to 57%.

The last time investor confidence levels were higher than this level was in 2007, when 59% of high net worth investors said they were feeling bullish in the annual international poll.

March 5, 2014

A reclusive second-gen to Chinese real estate agent Logan Properties has been declared the youngest billionaire on the planet by Forbes World’s Billionaires List, which includes a number of family business members.

A reclusive second-gen to Chinese real estate agent Logan Properties has been declared the youngest billionaire on the planet by Forbes World’s Billionaires List, which includes a number of family business members.

At age 24, Hong Kong native Perenna Kei is an 85% shareholder in the family business and a non-executive director. Her father, Ji Haipeng, is chairman and chief executive of the company.

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