Tag: Billionaires

Unveiling the secrets and power shifts within the world's billionaires' club, this article explores how Big Tech has disrupted traditional wealth accumulation.

Inherited wealth dominates self-made fortunes for billionaires, as revealed in a UBS report. Over the past year, 53 heirs inherited $150.8 billion, surpassing the $140.7 billion earned by 84 self-made billionaires. The report highlights the need for younger generations to be involved in succession planning, and a shift towards philanthropy and sustainability among billionaire heirs. Middle East wealth saw a notable increase, while wealth in India and China experienced setbacks. The consumer and retail sectors contributed the most to global billionaire wealth growth.

19-year-old Clemente Del Vecchio emerges as the world's youngest billionaire in 2023, inheriting a $400 crore fortune from his late father, Italian billionaire Leonardo Del Vecchio, chairman of EssilorLuxottica. This unprecedented wealth transfer highlights the role of family legacy in shaping the financial trajectories of the next generation.

Is Wall Street losing its mojo? Billionaires are flocking to Miami, signaling a potential shift in the financial landscape. Is Florida the new financial mecca? Find out now!