Browsing Tag


15 posts

Hong Kong Surpasses NYC For Having the Most Crazy Rich People in the World

Hong Kong is now the world’s multi-millionaire and billionaire capital after outranking New York as the city with the most ultra-wealthy residents, a new report from net worth intelligence and data company Wealth-X suggests.

According to the sixth edition of the World Ultra Wealth Report, Hong Kong’s population of people worth at least $30 million (ultra-high net-worth individuals) is now 10,010 which equates to a 31% increase from last year, Business Insider reported.

Daughter Of Malaysian Tycoon Ditches Over $400 Million Inheritance For Love

Angeline Francis Khoo will do anything for love — including giving up her entire inheritance.

According to Daily Mail, the former heiress to the Laura Ashley fortune had been dating her now-husband, Jedidiah Francis, since their days at Oxford. Francis hails from the Caribbean and currently works at ASOS as the Head of Data Science, while Khoo had been groomed to help run the family business.

Chinese Billionaires Have Been Ballin’ Out of Control Since Trump Became President

U.S. President Donald Trump may have accused China of manipulating currency and stealing American jobs, but that rhetoric is not stopping Chinese billionaires from making more money today.

Data from the Bloomberg Billionaires Index showed that the 36 Chinese billionaires it tracks have increased their fortune by 13.2% since Trump was elected on November 8. That’s a $39.2 billion bump that puts their combined net worth to a whopping $336 billion.

Russia, India and Thailand Rank as the World’s Most Unequal Nations

Russia, India and Thailand are the most unequal nations in the world in terms of wealth distribution, a recent study has revealed.

According to Credit Suisse’s Global Wealth Report 2016,  the top 1% of the Russian population controls a whopping 74.5% of the country’s wealth. Meanwhile, India and Thailand come in close 2nd and 3rd, with each country’s 1 percenters owning 58.4% and 58% of their nation’s resources, respectively.

62 Extremely Rich People Are Worth as Much as Half of Humanity Combined, Study Says

The wealth disparity between the world’s richest and poorest has worsened to the point that 62 of the richest people in the world now own as much as the poorest half of the planet combined, according to Oxfam.

Their report titled “An Economy for the 1%” reveals that the poorest half of the world’s 3.6 billion people has become poorer by 38% — a loss of $1 trillion — since 2010, while the richest 62 people have increased in wealth by more than half a trillion dollars to now own $1.76 trillion.

Millionaires are About to Control Half of the World’s Wealth

Millionaires, the kind of people that non-millionaires despise but still hope to become one day, are taking a good chunk of the world’s money. Those who fear these hungry hungry hippos of the world’s financial resources call them the one percent, and their growing wealth correlates with the rich getting richer and the poor getting poorer.

Last year, millionaires controlled 41% of the world’s wealth. By 2019, they will control 46%, or almost half, of all total wealth, according to a report by Boston Consulting Group. The report qualifies private wealth as relatively liquid holdings like cash, stocks and bonds; assets like property and business ownerships were excluded. As of last year, there were 17 million millionaires in the world.