New York City Mayor Zohran Mamdani announces a new tax on second homes worth over $5 million, aiming to fund public services, despite the city's ongoing loss of high-income residents to lower-tax states like Florida and Texas.
France experienced a net loss of 800 millionaires in 2025, driven by political instability, wealth tax debates like Gabriel Zucman's proposal, and attractive tax regimes abroad, despite a large wealthy population remaining.
Over 120 wealthy Britons, including Gary Lineker and Brian Eno, have written an open letter to new Prime Minister Andy Burnham, urging for higher taxes on the richest to foster a more equal society and fund public investment. The group, organized by Patriotic Millionaires, supports a 2% tax on wealth over £10m.
Congress is advancing proposals in the farm bill to expand land preservation tax incentives, creating a new program for landowners to keep forests intact. This comes as the IRS continues to scrutinize syndicated conservation easements used for inflated tax deductions, while legitimate individual easements remain valuable.
Luxury car sales in China dropped significantly last month and in the first half of the year, with brands like Mercedes-Benz and Land Rover experiencing declines as wealthy consumers increasingly favor electric vehicles due to rising crude oil prices.
Goldman Sachs has introduced a new alternative investments platform to offer wealthy clients and family offices direct stakes in fast-growing private companies, including those benefiting from the AI investment boom, and to facilitate secondary market transactions for private holdings.
Bozeman, Montana, is experiencing a severe housing crisis due to a 20% population surge since the pandemic, driven by remote workers and the 'Yellowstone Effect.' This influx has led to soaring rents and property values, displacing long-term residents and creating a socioeconomic divide, prompting a historic rent strike and a shift in local politics towards affordable housing advocates.
California voters will decide on a one-time 5% tax on residents/trusts with a net worth over $1 billion, aimed at offsetting healthcare cuts, amidst concerns it may drive away billionaires and harm competitiveness.
Analysis reveals Reform UK would have received only 15% of its donations if a £100,000 cap was in place. The party relies heavily on a few wealthy backers, unlike Labour, Conservatives, and Lib Dems, who would be less affected.
Analysis suggests Reform UK would have received only 15% of its donations if a £100,000 cap was in place. The party relies heavily on a few wealthy backers, with two billionaires accounting for 71% of its income last year. Other major parties would be less affected.
Analysis suggests Reform UK would have received only 15% of its donations last year if a £100,000 cap was in place. The party relies heavily on a few wealthy backers, unlike Labour, Conservatives, and Lib Dems, who would be less affected by the proposed limit.
Analysis suggests Reform UK would receive only 15% of its donations if a £100,000 cap was in place, highlighting reliance on wealthy backers. Other parties would be less affected.
UK's Representation of the People Bill faces scrutiny over big-money donations, particularly in crypto. Reforms aim to curb foreign and crypto donations, but critics argue they are insufficient. The article links wealthy crypto investors to the far-right, raising concerns about financial integrity and the potential for a 'crypto capital' that blurs crime and business.
At least four guests from Michael Rubin's White Party are exploring the purchase of a $45 million oceanfront mansion in Bridgehampton, New York, after being impressed by the Hamptons lifestyle. The property, located near Rubin's estate, has seen significant interest and is currently under negotiation.
Anastasiia Berezovska, suspected of a bomb attack in Monaco, was found shot dead near Kyiv. Ukrainian prosecutors arrested two men, including a military intelligence officer, in connection with the case, alleging they received crypto payments from Berezovska. The attack injured a Ukraine-born businessman.
California's proposed 5% wealth tax on assets over $1 billion faces fierce opposition from tech billionaires. Over $120 million has been raised against the measure, with Google co-founder Sergey Brin donating $82 million. Supporters argue it will fund public services and reduce inequality.
Wealthy Americans are opting for AI-powered education, with companies like Forge Prep and Alpha School charging high fees for AI tutors and workshops. Silicon Valley investors are embracing this model, seeing it as a fix for a 'broken' traditional system, though concerns exist about AI's ability to foster critical thinking and the exclusion of social issues from the curriculum.
Taylor Swift's extravagant wedding in NYC highlights the city's transformation into a playground for the wealthy, exacerbating the housing crisis and alienating long-term residents.
Taylor Swift and Travis Kelce's rumored wedding at Madison Square Garden highlights how New York City increasingly prioritizes wealthy visitors and investors over its own residents, exacerbating the housing crisis and making the city feel unwelcoming to those trying to live there.
A rumored lavish wedding for Taylor Swift and Travis Kelce in New York City over the Fourth of July weekend sparks a critique of the city's transformation into a playground for the wealthy, exacerbating its severe housing crisis and making it increasingly hostile for long-term residents.
The US Supreme Court has lifted limits on how much political parties can spend in coordination with a candidate, overturning a 50-year-old law. The 6-3 ruling, in FEC v NRSC, stated that spending limits violate the First Amendment's free speech protections. This decision is expected to shift fundraising away from super PACs towards political parties.
Leaders like Rishi Sunak have used the argument that their country's small share of global emissions (e.g., UK's 1%) justifies delaying climate action. However, scientists argue this ignores historical emissions and per capita contributions, and that wealthy nations have a greater capacity to cut pollution.
A former US official claims democracy is broken, citing research that governments favor the wealthy. The tech lobby in the UK is accused of thwarting accountability and embedding services into the state, leading to policy shifts and loss of national control over critical infrastructure and data.
A Chinese outdoor prototype uses a novel photothermal material to desalinate seawater with 90.2% solar absorption and 45.7% less energy, irrigating 5 sqm of farmland solely via sunlight, promising lower costs than bottled water at scale.
