Wealthy People

StanChart targets $200 bn new assets; focuses on Chinese, Indian wealthy

StanChart's assets under management sourced from wealthy Chinese and Indians with global needs rose by about 40 per cent and 20 per cent

Stocks, bonds, real estate: Where do India's rich entrepreneurs invest?

Unemployment, corruption, inflation and taxation are the biggest worries of the wealthy Indian entrepreneurs. However, three out of four (75 per cent) feel supported by the government

The wealthy will shield Asian banks from Donald Trump's tariffs; here's how

Trump's proposed 10 per cent to 20 per cent tariff on all foreign-made goods - 60 per cent or higher on products from China - will be more than a bucketful of sand in the wheels of commerce

Russia's wealthy elite may face higher tax as govt proposes new system

Russia's wealthy elite could face higher income taxes, according to a proposal the country's finance ministry floated on Tuesday. The proposal, which would likely have to go through parliament for approval and subsequently a signoff by President Vladimir Putin, comes as Russia continues to spend vast amounts of money on the military campaign in Ukraine. The proposal involves a progressive tax on personal incomes and represents a change of course from the current flat-rate tax that was credited with bringing order and improving tax collections after it was introduced in 2001. It envisages imposing a 13 per cent tax for incomes of up to 2.4 million rubles (USD 27,000) a year. For incomes over that amount, a steadily higher tax rates would apply. The maximum tax would be 22 per cent for annual incomes exceeding 50 million rubles (USD 555,000). The increased taxes would affect only 3.2 per cent of Russia's working population, Finance Minister Anton Siluanov said on the ministry's websi

After CLSA, Goldman eyes 'affluent India' play and identifies key themes

Identifies key themes like leisure, jewellery, out-of-home food, healthcare and premium brands as growth areas

Hong Kong to offer residency to wealthy for $3.8 million investment

Known as the Capital Investment Entrant Scheme, the plan was announced during Hong Kong Chief Executive John Lee's policy address in October.

Under Putin, uber-wealthy Russians are still rich but far less powerful

When Vladimir Putin came to power in 2000, the outside world viewed those Russians known as oligarchs as men whose vast wealth, ruthlessly amassed, made them almost shadow rulers. A government of the few, in the word's etymology. The term has persisted well into Putin's rule, broadening in popular usage to refer to almost any Russian with a substantial fortune. How much political power any of Russia's uber-rich now wield, however, is doubtful. A few hours after Putin sent troops into Ukraine in February 2022, a televised meeting he held in the Kremlin with top industrialists and entrepreneurs showed how the dynamics had changed: Putin simply told them he had no choice but to invade. Despite the harsh consequences to their wealth that the tycoons could expect from the war, they had to accept it; the power was his, not theirs. THE ORIGINAL OLIGARCHS After the collapse of the Soviet Union, astute businessmen who had already begun building operations as government controls loosened u

Even in Covid era, the well-offs got wealthier: CPI-M Sitaram Yechury

CPI-M General Secretary Sitaram Yechury that even during the pandemic, some companies have earned billions of dollars through vaccines.

In 2020 the ultra-rich got richer. Now they're bracing for the backlash

In 2020, as the world convulsed under Covid-19 and the global economy faced its worst recession since World War II, billionaires saw their riches reach new heights

Jungle hikes and shark tank teach Asia's rich heirs how to stay rich

Many are interested in topics that were far less important even a decade ago; from artificial intelligence to personal brands

Here's where most millionaires are minted

Russia, Brazil, Canada saw big jumps in their populations of HNI investors last year