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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: ultra rich

ultra rich stories: 10 news summaries


 For Once, Super-Rich 
 Not Getting Richer 

Recession halts 30-year rise of the super-wealthy

Aug 21, 09 9:25 AM CDT
(Newser) - Since the 1970s, the rich have been getting richer with stunning consistency, but now, thanks to the recession, that decades-long run has hit a wall, the New York Times reports. Wall Street pay is indeed returning to normal, but for every investment banker who’s benefiting from that, several... More »

MORE ABOUT:
ultra rich • recession • rich • income disparity • income gap

 Credit Crisis 
 Snips Ranks 
 of Super Rich 

Millionnaires' club gets smaller as investments plummet in value

Jun 25, 09 3:15 AM CDT
(Newser) - Won't somebody think of the poor millionaires? The global financial crisis has hit the world's "super rich" hard and left many of them merely extremely wealthy, the Financial Times reports. The number of "ultra high net worth individuals" with over $30 million to invest shrank by nearly... More »

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ultra rich • wealth • recession • millionaires • financial crisis

Obama Wants
to Revive
'Death Tax'

Estate levy set to expire in 2010; Dems want richest 2% to pay up

Jan 12, 09 10:52 AM CST
(Newser) - With the estate tax—a levy on inheritances dubbed the “death tax” by opponents—set to expire in 2010 as a last gasp of President Bush’s 2001 tax cuts, Barack Obama and fellow Democrats are looking to keep America’s richest paying up, the Wall Street Journal reports.... More »

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Barack Obama • ultra rich • small business • estate tax

Diamond-Inlaid Mastercard? 'I Like!'

Company readies
lavish gold card for
rich Kazakhstanis

Nov 1, 08 7:50 PM CDT
(Newser) - MasterCard hopes that a worldwide recession won't stop shoppers from toting around a gold-encrusted, diamond-inlaid credit card, the Financial Times reports. Later this month, the company will issue VIP customers in Kazakhstan the "Diamond" card—which comes with a personal manager, is trimmed with gold, has a 0.... More »

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ultra rich • Dubai • diamond • Kazakhstan • credit card • gold • MasterCard

Billionaire Pays $500K for 27 Bottles of Wine

Global economic downturn? What global economic downturn?

Apr 19, 08 2:14 PM CDT
(Newser) - As the global economy falters, many people are fighting to make ends meet. And then there’s the Chinese billionaire who spent $500,000 for 27 bottles of wine today. The sale set a record for a single lot. “I don’t think he has bought this as an... More »

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ultra rich • globalization • wine • recession • luxury goods • luxury

 Recession Not Slowing Ultrarich 

Real estate, art, yachts still finding no shortage of willing consumers

Apr 14, 08 10:02 AM CDT
(Newser) - As many Americans batten down the hatches, the über-rich are still living it up, the New York Times reports. Already this year, 71 New York apartments have sold for more than $10 million—compared to just 17 in 2007. The good times were so good, many say, they haven’... More »

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ultra rich • recession • luxury goods • rich • economy

Rich Getting Even Richer, Even Faster

Gap between super wealthy and rest of US grows even bigger

Dec 15, 07 4:17 PM CST
(Newser) - America’s economy is great, the New York Times says, if you’re already super rich. Between 2003 and 2005, America’s top 1% saw a meteoric 42.6% jump in income. The rest of us? Well, the middle fifth earned an extra 4.3%, and the bottom fifth... More »

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ultra rich • wealth • US economy • income disparity

Your Log-in Please, Sir?

Social networking sites for the super-rich

Nov 29, 07 10:49 PM CST
(Newser) - The super-rich are joining the social networking craze, but they're certainly not going to mix with the masses on MySpace. Exclusive sites for millionaires using the same membership criteria as snooty country clubs are appearing on the Web, reports the Wall Street Journal. Invitation-only site aSmallWorld.net has proven popular—... More »

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social networking • Internet • ultra rich • MySpace • Facebook

Lexus Reaches for Luxury Cachet

Wealthy suburbanites' car of choice
gets high-end makeover

Mar 26, 07 11:23 AM CDT
(Newser) - Stodgy luxury standby Lexus is trying to trade up to the hot "prestige luxury" market with a new line of $70,000 and up automobiles.  Along with the new models comes a massive rebranding effort that aims, says a  marketing manager, to get "Louis Vuitton, Prada, Gucci... More »

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ultra rich • Lexus • Prada • Gucci • Louis Vuitton • vehicles • sports cars • luxury car • auto industry • cars

The Super-Rich
Are Rewriting Hollywood Rules

So rich, that is, that  they don't need the studios to distribute their films

Mar 12, 07 1:49 PM CDT
(Newser) - A new breed of Hollywood players—so rich they don't need studio money—are   financing and releasing slates of small-budget films on their own. Producers like Sam Nazarian, a 31-year-old scion of a wealthy Persian family, and self-made billionaire Sidney Kimmel, 78, are shouldering the costs of a full... More »

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entertainment • ultra rich • Hollywood • Sam Nazarian • Sidney Kimmel • independent film • Tom Rosenberg • film • business • movies

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