Wealth

Adani Green fastest wealth creator during 2019-24: Motilal Oswal study

Given its sheer size, RIL has remained the top wealth creator on an absolute basis during 11 out of the last 17 five-year study periods

The Pareto principle in wealth creation

For Do-It-Yourself investors, Arun Kumar's book offers an easy primer on everything from how to get started to avoiding pitfalls

India should impose tax on ultra-wealthy to tackle wealth inequality: Study

India needs to impose a 2 per cent tax on net wealth exceeding Rs 10 crore and a 33 per cent inheritance tax to deal with the problem of rising inequality in the country, a new research paper co-authored by economist Thomas Piketty has suggested. The paper titled 'Proposals For a Wealth Tax Package to Tackle Extreme Inequalities in India' propose a comprehensive tax package on the ultra-wealthy to tackle the massive concentration at the very top of the wealth distribution and create valuable fiscal space for crucial social sector investments. "Raise phenomenally large tax revenues while leaving 99.96 per cent of the adults unaffected by the tax. "In a baseline scenario, a 2 per cent annual tax on net wealth exceeding Rs 10 crore and a 33 per cent inheritance tax on estates exceeding Rs 10 crore in valuation would generate a massive 2.73 per cent of Gross Domestic Product (GDP) in revenues," the paper suggested. The paper said that the taxation proposal needs to be accompanied by ..

PM Modi vs Rahul Gandhi assets declared: Who's wealthier and by how much?

Prime Minister Narendra Modi and Congress MP Rahul Gandhi, who are locked in an intense face-off in the 2024 Lok Sabha elections, have declared their assets

Impact of divisions in family businesses: Motivations and consequences

By embracing a proactive stance towards addressing emerging challenges, family conglomerates such as Godrej could potentially have emerged as global powerhouses

Multi-billion dollar Godrej family split may not attract tax, say lawyers

A family settlement is defined as an arrangement between members of the family with the intent to avoid disputes

PM Modi's 'infiltrators' remark: What did ex-PM Manmohan Singh say in 2006?

Lok Sabha elections 2024: During a rally in Rajasthan, PM Narendra Modi claimed that former PM Manmohan Singh believed that Muslims had 'first claim on resources' and wealth of the nation

Saudi Arabia's sovereign wealth fund in talks to buy national airline

The PIF would be taking over ownership of the airline from the government with a view to improving efficiency and profitability

UBS starts job cuts at HK, Singapore wealth units after profit slump

Wealth generation in China has stalled as the nation's economy struggles to regain momentum amid a property crisis and a selloff in equities

Wealth of 5 richest men doubled since 2020; 5 bn people now poorer: Oxfam

Fortunes of five richest men have more than doubled since 2020 and the world could have its first-ever trillionaire in just a decade while it would take more than two centuries to end poverty, rights group Oxfam said on Monday. Releasing its annual inequality report on the first day of the World Economic Forum (WEF) Annual Meeting here, Oxfam said seven of 10 of the world's biggest corporations have a billionaire as a CEO, or principal shareholder. It further said that 148 top corporations made USD 1.8 trillion in profits, 52 per cent up on three-year average, and dished out huge payouts to rich shareholders, while hundreds of millions faced cuts in real-term pay. Oxfam called for a new era of public action, including public services, corporate regulation, breaking up monopolies and enacting permanent wealth and excess profit taxes. The world's five richest men have more than doubled their fortunes from USD 405 billion to USD 869 billion since 2020 "at a rate of USD 14 million per

Heirs beat self-made billionaires for the first time: UBS Group AG

Of the 137 people who became billionaires last year, 53 inherited fortunes amounting to a combined $150.8 billion, according to a study published on Thursday

Bankman-Fried lied to the world as he built crypto empire: Prosecutors

Prosecutors included several references to former Alameda Research co-chief executive officer Caroline Ellison in their opening statements

Jack Ma's wealth drops $4.1 bn as Ant's valuation slashed: Report

The 58-year-old tycoon has a 9.9% stake that's now estimated to be worth $4.1 billion less than almost a year ago

Rishi Sunak, Akshata Murty's fortunes take a hit in new rich list analysis

British Prime Minister Rishi Sunak and wife Akshata Murty, who made their UK rich list debut last year, lost around GBP 201 million since then as a result of a drop in the value of Murty's shares in Infosys, according to a media report on Friday. The couple has slipped from 222nd position in 2022 to 275th in this year's tally with an estimated wealth of GBP 529 million, largely attributed to the Indian software firm co-founded by Murty's father Narayana Murthy, claimed "The Sunday Times Rich List" 2023. The couple's most valuable asset has long been a shareholding in Infosys, an Indian IT giant set up by Murty's father, the rich list analysis said. Over the past year, their wealth has fallen by more than half a million pounds a day. When the pair made their debut on the Rich List 12 months ago, this stake was worth about GBP 690 million. Since then Infosys' shares have plummeted owing to lower revenues from its banking, tech and other clients, it noted. The annual compilation of ..

Entrepreneurs create wealth; it is time to celebrate their spirit

They put their wealth at risk and implement projects that produce goods and services, writes U R Bhat

Many of the world's billionaires share a zodiac sign, study finds

Take a look at the most common zodiac signs among billionaires

As wealth inequality grows, is it time for an Indian inheritance tax?

Country had had 20 billionaires at the last count: more than some other major economies

Adani planning to open family office in Dubai or New York to manage wealth

Adani family is currently talking to consultants and tax experts about the plans; location of the office is still in flux, and may change based on the advice they receive and availability of resources

Six months on, crypto tax leading to siphoning of India's wealth: Experts

The crypto industry is largely unregulated in India, and the central government, along with the Reserve Bank of India (RBI), have repeatedly refused to make cryptocurrencies legal

Ring-fence your wealth from creditors by setting up wills and trusts

It is a versatile instrument suited for the wealthy, but it must be drafted carefully