millionaires

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Here's What Millionaires Have in Common

Step one: You might want to quit working for 'The Man'

(Newser) - Hoping to become a millionaire? Well, if you have these four traits, you may have a better shot than most. The authors of two books on millionaires surveyed 700 of 'em to find out what they all have in common, Time reports:
  • Most are self-employed: If you're making
... More »

1 in 25 New Yorkers Is a Millionaire

And city tops world for billionaire residents, study says

(Newser) - If you were to chuck everybody who wasn't a millionaire out of New York City, the city would still have a higher population than New Orleans, according to a new study. Researchers at Spear's magazine say 4.63% of the city's population have assets of $1 million... More »

Cops: Killer Heir Pees on Candy in Drug Store

Millionaire Robert Durst, 71, charged in Houston incident

(Newser) - Here’s something you don’t see every day—a multimillionaire peeing on a candy display in a CVS. That’s what Robert Durst is accused of doing Sunday in the upscale Texas shopping district Rice Village, KHOU reports. "He got his prescription, paid for it, exposed himself, urinated... More »

Identity of Millionaire Behind 'Hidden Cash' Revealed

Palo Alto's Jazon Buzi says the money drops will continue

(Newser) - The anonymous person leaving envelopes of cash around California in scavenger-hunt fashion is anonymous no more. Jason Buzi, who made millions flipping real estate, is the man behind the "@HiddenCash" frenzy. After initially denying a report at Inside Edition to that effect, the Palo Alto resident confirmed it to... More »

The Wealthiest Americans' Top Worry Is ...

Above all, it's health—their spouse's or their own

(Newser) - What's left to worry about when money is no object? Health, apparently. According to a report from two financial-advisory groups, American millionaires with a net worth up to $25 million rank their spouse's health as their number-one concern, Business Insider reports. Those who are merely affluent—with $100,... More »

For First Time, Most Members of Congress Are Millionaires

More than half qualify, says new tally

(Newser) - It isn't too much of a stretch to say that John Boehner now presides over a millionaires' club, reports the Center for Responsive Politics . Its analysis of financial disclosure forms reveals that more than half of the members of Congress qualify. Specifically, 268 of the 534 current members had... More »

France Gets Its Millionaires Tax

Constitutional Council finds revised 50% tax is constitutional

(Newser) - Francois Hollande finally got his millionaires tax today, with France's Constitutional Council clearing the way for the president's much-debated move to level the playing field for the middle class, reports Reuters . Hollande's tax was originally a 75% tax on income over $1.38 million; the council ruled... More »

72% of Millionaires Don't Think They're Rich

To those with millions to invest, wealth means financial freedom

(Newser) - Having millions of dollars to invest doesn't make you rich, at least according to those who have those millions. A study by investment firm UBS has found just 28% of people with between $1 million and $5 million in investable assets consider themselves wealthy, ABC News reports. While your... More »

Inside Al Gore's Crazy Riches

He may have as much money as Romney. Here's why

(Newser) - If it's not polite to talk about one's money, then Al Gore had quite the rude Monday. His riches (which, at an estimated $200 million, definitely qualify as riches) were the subject of both a Bloomberg piece (for which he declined to be interviewed) and a New York ... More »

The Schools Most Likely to Produce Rich People

US dominates the list

(Newser) - Most of the world's richest people have something in common: They went to school in the US. Wealth-X has compiled a report on which universities worldwide boast the most "ultra high net worth" alumni—defined here as those with $30 million or more—and US universities dominate the... More »

France Council Blocks 75% Tax on Millionaires

Government plans to resubmit plan soon

(Newser) - French President Francois Hollande's controversial plan to levy a 75% tax on income above 1 million euro ($1.3 million) has been rejected by a constitutional council, reports Reuters . The tax had been set to go into effect in 2013, despite the protests of many the nation's high... More »

Woman Scores $7M Fortune From Long-Lost Relative

Cleaning crew finds thousands of gold coins in dead man's garage

(Newser) - For those who dream of some long-lost dead relative leaving you a fortune, it apparently can actually happen. Arlene Magdanz, a San Francisco-area substitute teacher, is now officially a millionaire seven times over thanks to a dead first cousin. The AP reports that a crew cleaning out Walter Samaszko Jr.... More »

'Pathetic' Depardieu Quits France in Tax Rage

Trades barbs with PM, turns in passport after he moved to Belgium

(Newser) - For those American liberals who threaten to move to France should a presidential election not go their way, Gerard Depardieu is noisily heading in the opposite direction and burning his bridges as he goes: The actor is publicly surrendering his French passport and lambasting socialist PM Jean-Marc Ayrault, who had... More »

Dems Buck Obama on Tax Cuts, Say $250K Too Low

Tax debate, election year politics, divide party

(Newser) - Critics are lining up against President Obama's push to let the Bush tax cuts expire for the top 2% of earners—and that's just in his own party. Democrats facing elections this fall are breaking with the president, arguing that Obama's proposed $250,000 threshold is too... More »

Millionaire Missing From Florida Yacht

Guma Aguiar's empty yacht runs aground in Fort Lauderdale

(Newser) - A Florida millionaire's yacht came ashore this week—without the millionaire. Fort Lauderdale police are hunting for Brazilian-born Guma Aguiar after his empty yacht beached with the ignition running and lights on. The Coast Guard suspended its search yesterday after 70 hours hunting for the missing man in vain,... More »

North America No Longer Home to Most Millionaires

The honor now goes to Asia

(Newser) - North America may have retaken one crown from Asia yesterday, but it was forced to relinquish another today: The latter is now officially home to the most millionaires in the world, according to a new report by Capgemini. Its 3.37 million millionaires, a boost of 1.6% over 2010,... More »

Brazil's Wealthy Build Homes in Nature Preserves

Millionaire squatters dodge the law, trample on pristine land

(Newser) - Millionaire squatters? They're not so unusual in Brazil, where more and more of them are claiming land in nature preserves and building spectacular, secluded homes that are perfectly illegal, Bloomberg reports. The owners protect themselves by registering the property in the name of a holding company, and, when the... More »

French Frontrunner Wants 75% Tax on Millionaires

Francois Hollande: Those making more than 1M euros should pay huge rate

(Newser) - A poll out today continues to give Francois Hollande the edge over Nicolas Sarkozy in round one of France's presidential election, 31.5% to 27%, and a hearty lead in the runoff, 58% to 42%. Should the Socialist frontrunner indeed win, here's another percentage that will likely be... More »

Millionaire Hospitalized After Schlocky Spending Spree

Ed Bazinet blew about $60M on tchotchkes at two trade shows

(Newser) - A wealthy Manhattan businessman was hospitalized in a mental institution after spending $20 million on ice-cream scoops, barbecue tools, scented sachets, and other gewgaws at the New York International Gift Fair, reports the New York Post . Ed Bazinet, who struck it rich selling ceramic figurines, went from booth to booth... More »

Music Mogul Leaves $1.5M to Chauffeur, Doorman

And Alan Meltzer's ex-wife wants you to know that she really, really doesn't care

(Newser) - A chauffeur and a doorman are suddenly well-off after music mogul Alan Meltzer left them both a large chunk of his $10 million estate. Meltzer "was such a nice guy," says his chauffeur, who got $1 million. "He was always joking. He never looked down on anybody.... More »

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