Red Bull heir Vorayuth “Boss” Yoovidhya allegedly revealed secret financial documents that detail how wealthy families discreetly hide their assets. It’s a common for the rich and powerful to hide their wealth in order to avoid taxes, but the newly uncovered documents offer concrete evidence of such practice.
According to South China Morning Post, Yoovidhya inadvertently exposed their illegal practices when a police investigation, meant to find him, discovered the Panama Papers instead. The Panama Papers, first exposed in 2016, contain 11 million secret financial documents detailing how rich people hide their wealth, including the dealings of the Yoovidhya family.
Some Rich Kids of Instagram, who apparently have run out of ideas on how to flaunt their wealth, have decided to just destroy their expensive stuff, simply to show the world that they can afford to do so.
The videos of “spoiled” wealthy youngsters setting fire to a £88,000 ($108,000) Mercedes, expensive shoes and flushing an expensive Rolex watch down the toilet have surfaced online, reported the Mirror.
Fact: Instagram never runs out of rich kids. They come from all parts of the globe, partying and sipping martinis in private yachts.
While we know there’s an exclusive social network that charges them $1,000 every month, there is still plenty of wealth to flaunt on a free platform!
Finally, a social network exclusively for the snobby rich who fail to get everyone’s attention on a level platform has arrived. Rich Kids, a new social network for the affluent, has officially launched and it’s not kidding when it claims to be the “world’s most exclusive social network.”
The new app separates itself from the regular, free-to-use social networking sites such as Facebook, Twitter or Instagram by charging its users a monthly hefty sum for premium membership.
Editor’s Note (8-5-18 7:51 a.m. PST): This post has been updated.
Kevin Kwan is a Singaporean novelist best known for his book “Crazy Rich Asians”, a fictional story inspired by his childhood growing up with the rich elite in Asia.
At this point, you’ve probably seen enough of the Rich Kids of Instagram for multiple lifetimes, but before you dismiss anything rich on Instagram again, you have to check out these dogs.
These furballs channel cuteness on pools, boats, lounge chairs, car seats, designer bags, private planes and gigantic gardens. They even sip pressed juice, lick wine bottles and chew on cold, hard cash — these are the Rich Dogs of Instagram
In many Chinese cities and provinces, special treatment is given to some students who meet certain standards like winning sports competitions, being a good samaritan or even just being the child of a foreign diplomat.
This preferential treatment can sometimes be priority admissions or even bonus points on the zhongkao, China’s high school entrance exam.
A Shanghai-based research firm revealed that wealthy, young Chinese travelers preferred “adventure travel” destinations over more typical tourist vacation spots.
The Hurun Report’s “The Chinese Luxury Traveler 2016” revealed that luxury travelers from China aged between 18 and 36 chose to visit places in the polar regions, Africa and Middle East rather than usual Southeast Asian favorites such as Japan, South Korea and Hong Kong.
It’s not hard to imagine what a parent would do to give their children the best chance for success in life. In the case of rich parents, they may spawn rich kids, but parents also have other ways to ensure their child has a productive yet stress-free life.
We’ve already heard of wealthy parents hiring expensive tutors to help prepare them for important college-entrance exams, but ensuring their children get even more of an advantage in life begins as early as middle school.
There’s no doubt that the young elite in China just love showing off their “blessed” lives on social media.
Just like their fellow rich kids around the world, we’d normally raid the “Rich Kids of China” Instagram, but since no one has posted on it in almost two years (maybe due to the fact that Instagram is banned in China), the reputations of all rich kids in China have been held up by these three ladies: Sian Xiao, Weymi Cho, and another woman known simply as “AL”.
China’s state censor has banned children of the rich and famous from appearing on reality TV shows after a series of scandals involving some of the country’s “rich kids” stoked the Chinese public’s anger.
The country’s state news agency, Xinhua, announced the ban by the State Administration of Press, Publication, Radio, Film and Television (SAPRFT) on April 17.