wealth

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It's Not the Stuff That Makes the Rich Happier

Researchers find differences in how we spend our leisure time and work autonomy

(Newser) - Being wealthy must have its stresses. You might have to choose between a Rolls-Royce Dawn and Phantom. And did you see the Wraith? Still — Chin up! — the evidence is that they manage to be happier than the rest of us, Forge reports. But it's not the new... More »

Sanders Just One-Upped Warren on a Signature Issue

Sanders' wealth tax proposal would affect more households, raise more revenue: economists

(Newser) - Elizabeth Warren is suddenly facing competition on the signature issue of her presidential campaign. Enter Bernie Sanders, who on Tuesday unveiled his plan to "substantially reduce wealth inequality in America and stop our democracy from turning into a corrupt oligarchy." Whereas Warren backs a 2% wealth tax on... More »

Pastor's Lavish Buy Has Jaws Dropping

Pastor John Gray got his wife a Lamborghini

(Newser) - "You light my fire, let this Lamborghini light your fire, baby." So said Pastor John Gray when he gave his wife a Lamborghini Urus last Sunday—a gesture that sparked some criticism of his spending habits, the Houston Chronicle reports. But Gray, an associate pastor at Joel Osteen'... More »

NYC No Longer Has the Most Super-Rich People

That honor transfers to Hong Kong

(Newser) - Looking to hobnob with the rich but not necessarily famous? Although New York City used to be where you'd be find the largest population of super-rich people in the world, Hong Kong has taken over the top spot this year, CNNMoney notes. That's per a new report from... More »

'Gambling Mecca' Is About to Become Richest Place on Earth

Macau is set to surpass Qatar, per a new IMF ranking

(Newser) - A "gambling mecca" is set to oust Qatar as the richest place on Earth, per the International Monetary Fund's newest stats. Bloomberg reports that the IMF's World Economic Outlook database has pegged Macau as the planet's wealthiest place, with its economy on track to reach the... More »

Kylie Jenner on Track to Beat Billionaire Record

20-year-old is sole owner of $800B company

(Newser) - Kylie Jenner is known as a reality TV star and a model. But the Keeping Up With the Kardashians star is, at, 20, also an extremely successful businesswoman and is on course to become the youngest self-made billionaire ever, reports Forbes , which estimates her current fortune at $900 million. Most... More »

A Midlife 'Wealth Shock' May Lead to Your Death

Study finds Americans who suffered a financial blow were more likely to die

(Newser) - A big financial loss may shorten your life, a new study suggests. Middle-aged Americans who experienced a sudden, large economic blow were more likely to die during the following years than those who didn't. The heightened danger of death after a devastating loss, which researchers called a "wealth... More »

Trump Still a Multi-Billionaire, but His Ranking Tumbles

He falls to No. 766 in newest ranking by 'Forbes'

(Newser) - President Trump probably won't be happy to see Forbes ' 2018 ranking of the world's richest people—he has fallen from No. 544 to No. 766. The list pegs Trump's fortune at $3.1 billion, $400 million less than in 2017. Forbes notes that New York City'... More »

Why a Tech Pioneer's $59B Fortune May Be Fleeting

Ripple CEO Chris Larsen's riches may just be part of cryptocurrency 'hysteria,' analyst says

(Newser) - Chris Larsen may not be the household name that Mark Zuckerberg is, but with the amount of wealth he has (at least on paper), he may not care. Forbes notes Larsen has in his personal holdings 5.19 billion XRP tokens from his virtual-currency company, Ripple, in addition to a... More »

One US Representative Is Worth More than $476M

Jared Polis tops list of wealthiest members of Congress

(Newser) - Most members of Congress are millionaires, but which ones are the millionaire-iest? That's the question 24/7 Wall St. set out to answer, compiling a list of the 25 wealthiest members of Congress based on data from the nonprofit Center for Responsive Politics' Opensecrets.org. Eighteen of the lawmakers on... More »

Richest 1% Now Control Record 50.1% of Global Wealth

According to a new report

(Newser) - Good news: Global wealth rose by 6.4% in 2017 in the fastest yearly increase since 2012, the Financial Times reports. Bad news: The distribution of that new wealth was as uneven as ever. According to Credit Suisse's 2017 Global Wealth Report , the richest 1% now account for a... More »

The Earth Has a New 'Richest Person'

With a net worth of $90.9 billion, Jeff Bezos just surpassed Bill Gates

(Newser) - A strong morning for shares of Amazon has resulted in bragging rights for CEO Jeff Bezos: He is now the richest person on the planet. Bezos' net worth climbed to $90.9 billion about 10am EDT Thursday, putting him ahead of Gates at $90.7 billion, per Bloomberg . It's... More »

There's Now Only One Person Richer Than Jeff Bezos

He shut down rival's firm, gained $1.5B on same day

(Newser) - Amazon.com founder Jeff Bezos made a fortune on top of his existing fortune Wednesday and finished the day as the second-richest person on the planet. His company's share price surged $9 billion after its purchase of Middle Eastern e-commerce site Souq, adding $1.5 billion to Bezos' personal... More »

Gates So Rich He May Become World's First Trillionaire

Per latest Oxfam extrapolation

(Newser) - Eight billionaires on Earth boast as much money as the world's 3.6 billion poorest people—and one of those eight wealth-wielders has a good shot at ascending to the next level. CNBC reports that Bill Gates is on pace to become the planet's first trillionaire within the... More »

8 Men Are as Rich as World's Poorest 3.6B

Oxfam calls for crackdown on tax-dodging

(Newser) - A group of people that could fit into a minivan is richer than enough of the world's population to fill nearly 50 million school buses, according to Oxfam's latest shocking report on world inequality. Eight extremely wealthy men, six of them American, have as much wealth as the... More »

Sorry Liberals, Conservative Politicians Are More Attractive

And voters reward them for it, says study

(Newser) - Beautiful people enjoy a range of benefits in life above and beyond the sheer joy of looking in the mirror. Previous research has found that beauty influences popularity, grades in school, and salary, reports the Washington Post . So it might not be too far a stretch to suggest that beauty... More »

Level of Wealth in Trump Administration 'Unprecedented'

His cabinet is worth more than one-third of US households combined

(Newser) - With many Americans wondering where all the money is, they might want to check the pockets of the new Trump cabinet. Quartz reports the 17 people Donald Trump has selected for his cabinet or cabinet-level posts have a combined wealth of more than $9.5 billion. That's more money... More »

Trump Stacking His Team With Billionaires, Millionaires

His administration could be richest ever—worth up to $35B

(Newser) - Donald Trump ran on a "drain the swamp" platform in which he positioned himself as a man of the people. Which is why eyebrows are being raised at him tapping ex-Goldman Sachs bigwig Steve Mnuchin for Treasury secretary , billionaire investor Wilbur Ross for commerce secretary , and a handful of... More »

The World's 10 Richest Countries

The US just makes the list

(Newser) - While some countries are rich in culture and history, others are actually rich. 24/7 Wall St. has compiled a list of the world's 25 wealthiest countries based on gross national income, which it says is a "more useful measure of national wealth" than gross domestic product. The site... More »

Meet the Billionaire Heirs to the Red Bull Fortune

Chaleo Yoovidhya left his family a $22B fortune

(Newser) - Among the richest humans on the planet when he died, Red Bull founder Chaleo Yoovidhya was a quiet-to-the-point-of-reclusive Thai entrepreneur who preferred duck farming to the trappings of wealth. And since the devout Buddhist's death in 2012, 11 of his family members have inherited his vast fortune, which Bloomberg... More »

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