Super Rich People

Elon Musk tops superbillionaires index; Ambani, Adani join exclusive club

Superbillionaires hold over 16 per cent of the total wealth among billionaires, a sharp rise from just 4 per cent a decade ago in 2014, according to Altrata data

G20 finance ministers agree to work toward effectively taxing super-rich

Finance ministers from leading rich and developing nations agreed Friday to strive toward effectively taxing the super-rich, a joint ministerial declaration said. With full respect to tax sovereignty, we will seek to engage cooperatively to ensure that ultra-high-net-worth individuals are effectively taxed, the declaration said after the two-day meeting in Rio de Janeiro. Brazil has made a proposal to impose a 2% minimum tax on billionaires a top priority of its presidency of the Group of 20, ahead of the Nov. 18-19 summit in Rio. While the final declaration stops short of agreeing on a specific global tax, Brazilian Finance Minister Fernando Haddad nevertheless called it a significant step forward. We were always optimistic about this result, but it really exceeded our initial expectations, Haddad told reporters. Brazil's proposal to tax billionaires has divided G20 nations. France, Spain and South Africa have expressed support, while the U.S. is against. Tax policy is very diff

74% Indians support taxing super-rich to address global inequality: Survey

As G20 finance ministers prepare to consider a wealth tax on the super-rich next month, a survey has revealed that 68 per cent of people in these countries, including 74 per cent in India, support the idea to address global hunger, inequality and climate crisis. The survey by the Earth4All initiative and Global Commons Alliance covered 22,000 citizens in the world's largest economies. The proposal for a levy on the super-rich has been under discussion since at least 2013 with international support on the issue growing over the years. Brazil, the current president of the G20, aims to build consensus on the taxation of wealth and is likely to push for a joint declaration at a meeting of G20 finance ministers in July. Gabriel Zucman, a French economist and a key influencer behind Brazil's G20 proposal for progressive international taxation to promote tax justice, will release a report on Tuesday, outlining how "a global minimum tax on the ultra-rich" could work and how much it could .

Investing for ultra-rich: Family offices are booming in Australia's Perth

Since 2019, as the rich get richer, the number of family offices worldwide has more than tripled, to almost 4,600 last year, according to investment data provider Preqin Ltd

UK PM Rishi Sunak, wife Akshata Murty's fortunes rise in 2024 Rich List

British Prime Minister Rishi Sunak and wife Akshata Murty, who made their debut in the annual Sunday Times Rich List' two years ago, have moved up the ranks in the 2024 edition released on Friday thanks to the Murty's lucrative Infosys shareholding. The couple, both 44, have risen from 275th last year to 245th with an estimated wealth of GBP 651 million, making them the wealthiest people to call 10 Downing Street home. Murty's earnings are said to far exceed that of her husband as financial statements published in February are quoted to say Sunak made GBP 2.2 million in 2022-23 compared to Murty's estimated GBP 13 million in dividends over the past year. The couple's most valued asset is Murty's shareholding in Infosys, a Bangalore-based IT company co-founded by Murty's father [Narayan Murthy], reads the newspaper's analysis. Over the past year, the shares have grown in value by GBP 108.8 million to nearly GBP 590 million. The latest annual report suggests that Murty received about

Nearly all wealth gained by world's rich this year comes from AI

The biggest winners include Huang and Mark Zuckerberg, whose Meta Platforms is the second-best performer on the S&P 500 Index after Nvidia for the second year in a row

Louis Vuitton's Bernard Arnault overtakes Elon Musk as world's richest man

At 11th rank globally, Mukesh Ambani, chairman and managing director, Reliance Industries, continued to be the richest Indian on the list

Super-rich with family offices hiring away experts, other creative stars

This is an option nowadays not not just for chefs burned out by the daily grind of restaurants, but accountants, investment advisers, personal shoppers

In charts: India's rural super rich are growing faster than the urban rich

According to PRICE, the category of rich Indians which has seen the fastest growth in numbers in the five years ending 2020-21 has been the 'super rich' - or those more than Rs 2 crore annually.

China's super-rich see fortunes plunge as economy slows: Here're top losers

Only 1,305 people made the mark this year, down 11 per cent from last year

At home in super luxury: the rise of a real estate trend

The sale of properties that only the super-rich can afford is bumping up two years after the pandemic hit the country

BS Number Wise: A case for taxing India's rich on stock market profits

As economic inequality in the country widens, crorepatis pay very little on long-term capital gains

How the rich and well-connected rode out Covid-19 in safety and comfort

The choice of where to live, how to work and which international schools to attend provided relative comfort for the rich, while billions of others struggled

From luxury cars to business jets, small-town tycoons aiming big

With growing revenues and surging aspirations, demand for luxury products growing in Tier 2, 3 cities

China, India rise in wealth index, US remains world's ultra-rich hot spot

There are 60,000 ultra-high-net-worth individuals worldwide with a combined $22 trillion.

World's super-rich families bet on hedge funds in economic upheaval: Survey

More than a third of 185 investment firms for wealthy clans plan to boost allocations amid the pandemic

Tax super-rich to raise resources to fight Covid-19: Joseph Stiglitz

He also said the Indian government should not shy away from spending to control the pandemic and help the vulnerable sections

IRS officers for super-rich tax hike amid coronavirus outbreak; govt riled

The committee has argued the 'super-rich' have a higher obligation towards ensuring public good and recommended either raising income-tax rate for the highest slab or re-introducing wealth tax

Here's a list of the world's 20 richest people in the automobile industry

Two Indians, Pallonji Mistry and Rahul Bajaj, make the list

Surcharge hike may stop overseas fund managers from shifting to India

Several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain