New York and the UK are implementing new taxes on luxury properties to address the housing crisis and fund public services. While these measures aim to target the ultra-rich, experts suggest they are only a partial solution to broader issues of real estate financialization and monetary policy.
A private Signal chat involving billionaires like Sergey Brin and Marc Andreessen, who discussed strategies to combat California's proposed 5% wealth tax, has been revealed. Their efforts, including backing candidates and attempting to buy signature-gathering companies, have largely failed, with the tax measure polling strongly and legislative action pending.
Mark Cuban cautioned that even the wealthiest entrepreneurs could see their fortunes disappear if the stock market crashes again. He also expressed concern about wealth concentration and shared his strategy for protecting his own wealth.
Mark Cuban cautioned that even the wealthiest entrepreneurs could see their fortunes disappear if the stock market crashes again. He also expressed concern about wealth concentration and shared his strategy for protecting his own wealth.
Elon Musk has become the first person in modern history to exceed $1 trillion in personal net worth, reaching $1.11 trillion following SpaceX's record-breaking IPO. His wealth now surpasses the market cap of the global cryptocurrency sector excluding Bitcoin.
SpaceX CEO Elon Musk has become the world's first trillionaire following a successful IPO that saw shares surge, valuing the company over $2 trillion. New York City Mayor Zohran Mamdani used the milestone to push for taxing the wealthy, proposing a new 'pied-à-terre' tax on luxury homes.
Labour MPs are alarmed by significant donations to Reform UK from cryptocurrency billionaires Christopher Harborne and Ben Delo, totaling £7m. Concerns are raised about transparency and the potential for wealthy overseas donors to influence politics, despite new electoral finance regulations.
Crypto billionaires Christopher Harborne and Ben Delo donated £7 million to Reform UK in Q1 2026, exceeding Conservative and Labour party hauls. These donations represent 28% of all political donations received in the quarter.
Reform UK received £7m from two British crypto billionaires living overseas earlier this year, boosting its fundraising. The donations came before a planned £100,000 cap on overseas British citizens' donations.
Reform UK has raised £9m, largely from cryptocurrency billionaires, in the first quarter, significantly outstripping other parties. Major donations came from Christopher Harborne and Ben Delo, raising concerns about big money in politics.
Andoni Iraola has verbally agreed to become the new Liverpool head coach, replacing Arne Slot. Iraola's attacking style is seen as a better fit for the club's desired identity than Slot's possession-focused approach.
Senator Bernie Sanders has introduced the American AI Sovereign Wealth Fund Act, proposing a one-time 50% tax on the stock of major AI firms to create a public fund. The bill aims to give Americans direct ownership and representation in AI companies, arguing their success is built on 'stolen' public data.
AI firm Anthropic has confidentially filed for an IPO, surpassing rival OpenAI in valuation and funding. Meanwhile, Silicon Valley billionaires are investing heavily in California politics to influence regulations and elections.
Australia's billionaires saw their wealth increase by nearly $50,000 per minute in the past year, according to Oxfam. Meanwhile, anti-abortion rallies gain traction, a smart drug shows promise against cancer, and Peter Garrett leads an inquiry into the Aukus pact.
Australia's billionaires saw their wealth surge by nearly $50,000 per minute in the past year, according to Oxfam. Meanwhile, Barnaby Joyce headlines an anti-abortion rally in Sydney, Peter Garrett leads an inquiry into Aukus, and a smart drug shows promise against cancer.
Australia's billionaires saw their wealth increase by $25.67bn in the past year, reaching over $686bn, while 3.7 million people, including 757,000 children, live in poverty. Oxfam highlights the widening wealth gap and calls for tax reforms.
Australia has a record 178 billionaires, with total wealth exceeding $686 billion, according to Oxfam. The anti-poverty group highlights a growing wealth gap, while some argue billionaires contribute significantly to tax revenue.
Tech billionaires are spending unprecedented amounts on California's June 2 primary elections, aiming to secure political and regulatory influence. Major donors like Sergey Brin and Chris Larsen are funding candidates and ballot measures to shape AI development and avoid stifling regulations.
Pope Leo XIV references J.R.R. Tolkien in his encyclical Magnifica Humanitas, warning against the dangers of unchecked AI development, contrasting with interpretations by tech billionaires Elon Musk and Peter Thiel who draw different lessons from Tolkien's works.
A sense of impending doom is spreading, with billionaires building bunkers and AI experts warning of human extinction. Author Marc Elsberg depicts ecological collapse in his thriller "Eden." While apocalyptic narratives are common, scientists are taking the threat of collapse more seriously than ever.
Indian companies are increasingly acquiring foreign firms due to a slowdown in domestic growth, weak private investment, and better diversification opportunities abroad. This trend, marked by significant deals like Sun Pharma's acquisition of Organon & Co., reflects a strategic shift from past global sprees.
The Met Gala faced controversy over Jeff Bezos and Lauren Sánchez Bezos's $10m patronage, coinciding with protests against soaring inequality and Amazon worker conditions. Critics, including fashion insiders and a fictional movie plot, highlighted the disconnect between the event's glamour and real-world issues.
The Met Gala's $10m patronage by Jeff Bezos and Lauren Sánchez Bezos sparked protests against inequality, with critics highlighting Amazon workers' conditions and the tech elite's cultural aspirations. Fashion insiders expressed discomfort, while a fictional movie mirrored real-world rumors, reflecting a broader cultural backlash.
A trial between Elon Musk and OpenAI CEO Sam Altman revealed their past debates over the immense costs of building AI. Initially a nonprofit, OpenAI's shift to a capitalistic enterprise, fueled by billions in investment, is highlighted, raising questions about AI's future direction.
