Tag: High Net Worth Individuals

A Mexican Oil Chief’s Hide-Out: Sea Views and 2 Golf Courses

BENAHAVÍS, Spain — Fugitives often hole up in remote locations. But when the fugitive is the powerful former chief of Mexico’s state oil company, not just any old hide-out will do. Before his arrest this month, Emilio Lozoya, once the head of the Mexican oil giant Pemex, remained out of sight at La Zagaleta, one […]

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One Guaranteed Winner in the Democratic Primary: Plans to Tax the Rich

WASHINGTON — The Democratic primary race remains highly unpredictable as Nevada’s caucuses are held on Saturday, but there is one thing we already know for sure about the party’s next presidential nominee: She or he has big plans to tax the very rich. Every leading candidate in the party’s 2020 field — from relative moderates […]

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The Liberal Economists Behind the Wealth Tax Debate

BERKELEY, Calif. — One of the most liberal policy proposals animating the Democratic presidential primaries is the handiwork of two French economists who are not formally advising any campaign and have barely met the candidates running for the White House. Gabriel Zucman and Emmanuel Saez are the driving force behind proposals for a wealth tax, […]

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The Billionaire Election

Bernie Sanders wants to get rid of them. Amy Klobuchar is fine with them, but wants them to pay somewhat higher taxes. Joe Biden promises them that under him, “nothing would fundamentally change.” Tom Steyer is one of them and wouldn’t be in the race if he wasn’t but seems slightly embarrassed about it. Elizabeth […]

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Could Bloomberg Buy the Nomination?

Listen and subscribe to our podcast from your mobile device: Apple Podcasts | Spotify | Google Play | RadioPublic | Stitcher Massive ad spending is boosting Michael Bloomberg’s 2020 presidential candidacy — and attracting negative attention from his rivals for the Democratic nomination. With Ross Douthat off this week, special guest Charlie Warzel, a Times […]

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The Many-Billion-Dollar Debate

I know you were all hoping for a two-billionaire Democratic debate, but money can’t buy everything. Well, maybe Nevada. We’ll see. Tom Steyer, who’s done pretty much everything short of purchasing Des Moines, did so poorly in Iowa and New Hampshire (Finished Behind Biden!) that he was banished from the debate stage on Wednesday. Leaving […]

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Lots of Rich Men Tweet Like the President Now

ImageLauren Sanchez, Jeff Bezos, Anna Wintour and Jennifer Lopez at the Tom Ford Fashion Week show in Los Angeles on Feb. 7, 2020.Credit…Calla Kessler/The New York Times Twitter was founded in 2006. Fourteen years later, and perhaps thanks to the influential example of President Trump, the masters of the universe have apparently learned to post […]

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Never Mind the Internet. Here’s What’s Killing Malls.

It has been a tough decade for brick-and-mortar retailers, and matters seem only to be getting worse. Despite a strong consumer economy, physical retailers closed more than 9,000 stores in 2019 — more than the total in 2018, which surpassed the record of 2017. Already this year, retailers have announced more than 1,200 more intended […]

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Jeff Bezos Buying $165 Million Estate, a California Record

The national housing market has cooled, but in Los Angeles the ultrarich are still shattering price records. An heiress to the Formula One racing empire sold her home for $119.75 million last July. In December, Lachlan Murdoch paid $150 million for a home in Bel Air. The latest buyer at the top: Jeff Bezos, the […]

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Frederick Koch, Who Spurned Family Business, Dies at 86

In 1983, a wealthy American wandered into the Royal Shakespeare Company in Stratford-upon-Avon in England. He saw a scale model of a new theater that the company hoped to build, if only it had the money. The American said he would underwrite the project, but wanted to remain anonymous. Three years later, Queen Elizabeth II […]

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Lloyd Blankfein Says Bernie Sanders Would ‘Ruin Our Economy’

Lloyd Blankfein is tweeting again. This time, the former Goldman Sachs chief executive is taking aim at Senator Bernie Sanders of Vermont, the victor of Tuesday’s Democratic primary in New Hampshire by a slim margin. In a tweet on Tuesday night, his first since November, Mr. Blankfein said Mr. Sanders would “ruin our economy” if […]

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Class War at the Oscars

On Sunday night, Bong Joon Ho’s “Parasite” morphed from a merely great film into a history-making phenomenon, becoming the first foreign-language film to win the Oscar for best picture. It also won best director, best original screenplay and best international feature. Additionally, this South Korean horror-comedy, a radical parable of inequality, won the Golden Globe […]

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Bloomberg: Fixing Inequality Is My Priority

Every Democrat running for president agrees that income inequality is one of the great problems of our time. And we all agree that the wealthy should pay more in taxes. But only one of us has actually raised taxes on the wealthy by persuading a Republican legislature to vote for them: Me. When I was […]

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Bloomberg Pursues Wealthy Donors, but Not Their Checkbooks

MANCHESTER, N.H. — In the middle of January, most Democratic presidential candidates were scrambling to raise money to keep their campaigns afloat. But at an airy gallery in downtown San Francisco, Michael R. Bloomberg gathered a group of several dozen local political donors to make a different kind of appeal. Mr. Bloomberg told the group […]

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More Money, More Problems for Democracy

There is a straight line from the Supreme Court’s 2010 decision in the Citizens United case to a dinner party the president attended at the Trump International Hotel in Washington in April 2018. The dinner has attracted attention because Lev Parnas and Igor Fruman — associates of President Trump’s personal lawyer Rudolph Giuliani — took […]

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Somewhere Between a Shared Cab and a Private Jet, It’s the Commuter Helicopter

Private jets are the ultimate symbol of our new Gilded Age: Ever more popular with the very wealthy, they have induced a sort of hand-wringing among more progressive-minded billionaires. Abigail Disney now eschews them; famous environmentalists including Leonardo DiCaprio and Prince Harry have been publicly pilloried for using them. Still, they’re selling better than ever […]

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Phone Hacks Can Happen to Anyone. Here’s How to Protect Yourself.

The mobile phone belonging to Jeff Bezos, the founder and chief executive of Amazon, was allegedly hacked when he clicked a video sent through WhatsApp, essentially turning over control of his phone and all of its contents to the hackers. Compromising the security of the world’s wealthiest man is no mean feat. But hackers are […]

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Jeff Bezos’s Phone Hack Should Terrify Everyone

If Saudi Crown Prince Mohammed bin Salman wants to chat on WhatsApp, politely decline. That’s the lesson from a series of reports this week based off a forensic examination of Jeff Bezos’s communications with the crown prince. The investigation — conducted at Mr. Bezos’s request by FTI Consulting — found that his phone had most […]

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There’s No Such Thing as a Free Tax Cut

Legend has it that the British economist John Maynard Keynes, asked why he had changed his position on a question of economic policy, responded: “When the facts change, I change my mind. What do you do, sir?” Treasury Secretary Steven Mnuchin has embraced a different approach: ignoring the facts. This week, Mr. Mnuchin repeated the […]

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Trump to Focus on Economy at Davos, Seeking a Counter to Impeachment

DAVOS, Switzerland — Before the Senate impeachment trial begins in earnest on Tuesday, President Trump was more than 4,000 miles away from Washington, in this glitzy Alpine village, planning to drive a competing narrative — one that has nothing to do with pressure on Ukraine, abuse of power or obstruction of Congress. In his first […]

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How U.S. Firms Helped Africa’s Richest Woman Exploit Her Country’s Wealth

LISBON — It was the party to be seen at during the Cannes Film Festival, where being seen was the whole point. A Swiss jewelry company had rented out the opulent Hotel du Cap-Eden-Roc, drawing celebrities like Leonardo DiCaprio, Naomi Campbell and Antonio Banderas. The theme: “Love on the Rocks.” Posing for photos at the […]

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