Old money news
Here are some recent news stories related to "old money" or the wealthy elite:
- Wealth inequality widens: A recent report by the Economic Policy Institute found that the top 1% of earners in the US now hold more than 40% of the country's wealth, while the bottom 90% hold just 27%. (Source: EPI)
- Luxury real estate market booms: The global luxury real estate market is experiencing a surge in demand, with prices reaching record highs in many cities. For example, a penthouse apartment in Manhattan recently sold for $100 million. (Source: Bloomberg)
- Private jet ownership soars: The number of private jet owners has increased by 10% in the past year, with many wealthy individuals opting for private aviation due to concerns about COVID-19 and the desire for greater flexibility. (Source: Forbes)
- Yacht sales reach new highs: The global yacht market is experiencing a resurgence, with sales of luxury yachts reaching new highs. A recent report found that the global yacht market is expected to grow by 10% annually over the next five years. (Source: Superyacht Times)
- Wealthy individuals invest in impact investing: A growing number of wealthy individuals are investing in impact investing, which aims to generate both financial returns and positive social or environmental impact. (Source: Financial Times)
- Private equity firms eye luxury goods: Private equity firms are increasingly targeting the luxury goods sector, with many firms seeking to acquire high-end brands and companies. (Source: The Wall Street Journal)
- Cryptocurrency adoption among the wealthy: A recent survey found that 22% of high-net-worth individuals (HNWIs) have invested in cryptocurrencies, with many seeing them as a way to diversify their portfolios. (Source: Campden Wealth)
- Luxury travel experiences on the rise: The luxury travel market is experiencing a surge in demand, with many wealthy individuals seeking unique and exclusive travel experiences. (Source: Luxury Travel Magazine)
- Wealthy individuals prioritize philanthropy: A growing number of wealthy individuals are prioritizing philanthropy, with many setting up foundations and donating to charitable causes. (Source: Forbes)
- Old money families face succession challenges: Many old money families are facing challenges when it comes to succession planning, with some struggling to pass on their wealth and legacy to the next generation. (Source: Bloomberg)
These are just a few examples of recent news stories related to "old money" or the wealthy elite.