wealth
The youngest son of Mukesh Ambani, Asia’s richest man, married his long-time girlfriend on Saturday in what many had dubbed the wedding of the year, attended by global celebrities, business tycoons and politicians. The wedding rituals, including exchanging garlands by the couple and walking around a sacred fire, began on Friday and were completed past midnight. The wedding of Anant Ambani and Radhika Merchant took place at the Ambani-owned Jio World Convention Centre in Mumbai and the family home. The marriage was the culmination of months of wedding-related events that featured performances b...
Euronews (English)
The value of assets across the globe grew to $477 trillion (€441 trillion) in 2023, according to this year's global wealth report from Boston Consulting Group (BCG). That's a jump of 4.3%, a figure driven higher by a rebound in financial wealth, which rose by almost 7%. Financial wealth, a sub-section of overall wealth, excludes real assets such as property and land, as well as liabilities. These insights come as a positive sign following a rocky post-covid period, when high interest rates and currency depreciation hit pockets across the globe. In 2022, total wealth rose only 0.2%, while finan...
Euronews (English)
The United Arab Emirates has emerged as this year's top destination for attracting the most millionaires, according to a report from Henley Private Wealth Management into millionaire migration trends for 2024. The nation's zero rate of income tax, along with its luxury lifestyle and golden visa programme, is set to attract 6,700 new millionaires this year alone. While the number of Russians moving to the UAE has slowed recently, this has partially been offset by an increasing number of European and British immigrants. The number of millionaires living in the UAE's largest city, Dubai, has rise...
Euronews (English)
Marlene Engelhorn has redistributed over 25 million euros of her inheritance to various organisations. Among the 77 organisations who will receive the money, 300,000 will be donated to the Autonomous Austrian Women's Shelters. Nature restoration charity the Común Foundation will get 100,400 euros. The Austrian Nature Conservation Association, homeless organisation Nuenerhaus, the think-tank The Momentum Institute and NGO Attac will each receive over one million euros. Other recipients include inclusive football clubs and organisations dedicated to affordable housing. The 31-year-old Austrian-G...
Euronews (English)
The path to wealth creation is often seen as a marathon, not a sprint, typically spanning across several decades. But what if there was a way to speed up this process? What if you could build substantial wealth within a shorter timeframe, say three to five years? This concept may seem far-fetched, but it’s not entirely out of reach. Embarking on the journey to wealth creationWe’ll explore this intriguing concept by drawing insights from a certified financial planner who has successfully navigated this path and become a multimillionaire. Grasping the concept of compounding interestBefore we dis...
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Inequality has emerged as a major concern among EU citizens. According to the 2021 Eurobarometer survey, ensuring equality of opportunities was ranked as the top priority for the EU's economic and social advancement. The most pressing issues for citizens are equal opportunities and access to the labour market; fair working conditions; and access to quality health care. Credit Suisse and UBS's Global Wealth Report 2023 showed that wealth inequality is apparent not only within countries but also between the nations across Europe. The report measures wealth per adult in European countries in both...
Euronews (English)
Those who want to seize control of their financial destiny don’t point to inflation or economic setbacks and make excuses. They seek the knowledge and tools to overcome obstacles and chart their own course. If you want to generate substantial and sustainable wealth, this resource is for you. Unlike similar pieces, though, we won’t just list five investment options and call it a day. Let’s explore five uniquely different steps you can use to lay the groundwork for long-term wealth generation. From mindset techniques to spending habits and financial goals to diversifying your portfolio— and yes,...
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Hargreaves Lansdown has rebuffed a takeover proposal worth £4.67 billion (€5.48 billion) made by a private equity consortium on 26 April. On Wednesday, the board of directors said they were unanimously opposed to the offer which values individual shares at 985p, claiming it "substantially undervalues" the business. The consortium includes buyers CVC Capital Partners, Nordic Capital, and Platinum Ivy, a subsidiary of Abu Dhabi's sovereign wealth fund. The consortium's offer represents a 30% premium on Hargreaves Lansdown's share price of 755p at the end of April, although the stock's value has ...
Euronews (English)
Dubbed the ‘Brit Awards of the North’, the Northern Music Awards (NMAs) were organised by the music therapy charity Nordoff & Robbins and held in Manchester’s Albert Hall. It’s intended to become an annual event and represents a concerted effort to direct interest away from the wealthier areas of the UK, where arts funding is in greater supply, and shine a light on northern talent, as well as fundraise for the charity’s music therapy initiatives. Nordoff & Robbins have also held the Silver Clef Award since 1976 in London, also as a fundraising initiative with grime artist Stormzy as the most r...
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"Nothing is certain except death and taxes," American statesman Benjamin Franklin told scientist Jean-Baptiste Le Roy back in 1789. While both dying and filling the state coffers are, to varying extents, pretty unavoidable, a "tax on death" is much less of a foregone conclusion. Inheritance tax is considered to be the first modern tax to have spread widely. By the early 20th century, more than 60 countries had introduced it, generally to raise cash for wars or to weather lengthy recessions. Inheritance tax was once out of favourTowards the end of the century, the levy had fallen out of favour....
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