Tag: High Net Worth Individuals

Useful Idiots and Trumpist Billionaires

Whoever came up with the phrase “useful idiots” — it’s often credited to Lenin, but there’s no evidence he ever said it — was on to something. There are times when dangerous political movements derive important support from people who will, if these movements achieve and hold power, be among their biggest victims. Certainly I […]

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4 Reasons Parents Don’t Discuss Money (and Why They Should)

Parents would be remiss if they did not talk to their children about drinking and driving, using drugs and, of course, sex. Some go even further, discussing subjects like bullying and mental health. So why do a significant number of parents still not talk to their children about wealth and inheritance? Two-thirds of Americans who […]

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A Billionaire Makes His Case: ‘I Don’t See Myself as Rich’

SAN FRANCISCO — Tom Steyer is a former hedge fund investor and a billionaire. Those things could be a liability for a man running for president as a progressive. But Mr. Steyer, who this month joined a field of — what is it now? — 24 people, argued this was a selling point. “Now you […]

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Jeffrey Epstein Was a Sex Offender. The Powerful Welcomed Him Anyway.

A strange thing happened when Jeffrey Epstein came back to New York City after being branded a sex offender: His reputation appeared to rise. In 2010, the year after he got out of a Florida prison, Katie Couric and George Stephanopoulos dined at his Manhattan mansion with a British royal. The next year, Mr. Epstein […]

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Jeffrey Epstein’s ‘Infinite Means’ May Be a Mirage

When federal prosecutors announced sex-trafficking charges against Jeffrey Epstein this week, they described him as “a man of nearly infinite means.” They argued that his vast wealth — and his two private jets — made him a flight risk. Mr. Epstein is routinely described as a billionaire and brilliant financier, and he rubbed elbows with […]

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At Column No. 500, a Look Back at Lessons Learned

When my first Wealth Matters column ran in December 2008, I wrote that I wanted to examine the strategies the wealthy used to manage their money and their lives in a way that people with far less money could learn from. Having spent the last week going through 499 columns in preparation for No. 500, […]

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A Message From the Billionaire’s Club: Tax Us

Enthusiasm for a wealth tax on the country’s thin sliver of multimillionaires and billionaires may be unsurprising — after all, most Americans wouldn’t have to pay it. But now the idea is attracting support from a handful of those who would. A letter being published online on Monday calls for “a moderate wealth tax on […]

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Notes on Excessive Wealth Disorder

In a couple of days I’m going to be participating in an Economic Policy Institute conference on “excessive wealth disorder” — the problems and dangers created by extreme concentration of income and wealth at the top. I’ve been asked to give a short talk at the beginning of the conference, focusing on the political and […]

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Retouching the Mona Lisa Is Restoration, but a Mickey Mantle? Collectors Cry Fraud

A scandal in the world of baseball card collecting threatens to undermine the value of a long-established card grading system, has put into question the legitimacy of a prominent marketplace and has raised concerns that some collectors overpaid for expensive cards. Millions of dollars’ worth of cards are at stake as collectors question purchases and […]

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Meet the Money Whisperer to the Super-Rich N.B.A. Elite

Every day of Joe McLean’s job, as the premier wealth manager of the N.B.A. elite, requires him to make the kind of purchases that most of us make only once or twice in a lifetime. He bought 25 cars on behalf of his clients last year, and he probably sold nearly as many. He closed […]

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MacKenzie Bezos Owns $36 Billion in Amazon Shares. Now She Is Vowing to Give Away Much of Her Wealth.

MacKenzie Bezos has promised to give more than half of her fortune to charity as part of the Giving Pledge, the organization said Tuesday. Ms. Bezos, whose divorce from the Amazon founder and chief executive Jeff Bezos made news earlier this year, was among 19 new signatories announced by the group. “I have no doubt […]

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MacKenzie Bezos Promises to Give More Than Half of Her Fortune to Charity

MacKenzie Bezos has promised to give more than half of her fortune to charity as part of the Giving Pledge, the organization said Tuesday. Ms. Bezos, whose divorce from the Amazon founder and chief executive Jeff Bezos made news earlier this year, was among 19 new signatories announced by the group. “I have no doubt […]

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