wealthy

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You Don't Have to Be Crazy Rich to Own a Submarine

Or at least a share of one

(Newser) - Submarines have been around for roughly 400 years , but it's only in the last few that the rich have thought about owning one, as they might a plane or yacht. In fact, "everyone with a yacht over 150 feet is at least considering one" these days, Erik Hasselman...

Meet the 10 Richest People in the World

You know many of them already, including Elon Musk at No. 1, per 'Forbes' annual billionaires ranking

(Newser) - If Forbes is trying to make us feel bad for the world's billionaires, it's not really working. The magazine notes that, collectively, this group is now worth $400 billion less than they were a year ago, thanks to the ongoing pandemic, tepid markets, and war—but 1,000...

Biden Plans Minimum Tax on the Richest 700 Americans

Measure would cut deficit and cost Bezos, Musk billions

(Newser) - President Biden's plans for his next budget, to be announced Monday, include a new tax on the wealthiest 700 Americans—designed to bring in $360 billion over the next decade. The Billionaire Minimum Income Tax would set a 20% baseline tax rate on households worth more than $100 million,...

Thanks to COVID, Luxe Business Is Booming

Pandemic inspired 'life can be short' mentality, record car sales, says Rolls-Royce CEO

(Newser) - Rolls-Royce, Bentley, and Lamborghini are among the luxury car brands to describe record sales in 2021, CNN reports. The reason, according to Rolls-Royce CEO Torsten Muller-Otvos: the high rate of COVID-19 deaths. "Quite a lot of people witnessed people in their community dying from COVID. That makes them think...

A New Tax Plan Requires a Fundamental Shift
Democrats'
New Strategy:
Novel Tax on
Billionaires
the rundown

Democrats' New Strategy: Novel Tax on Billionaires

It would require the richest of the rich to pay taxes on assets even if they don't sell them

(Newser) - Democrats in Congress are still trying to figure out how to pay for President Biden's wish list, and it looks like they're settling on a plan to levy a novel penalty on the very richest of Americans. Coverage:
  • The idea: The proposal being worked out would require about
...

Look What Just Turned Up in Pompeii
Look What Just
Turned Up in
Pompeii

Look What Just Turned Up in Pompeii

'The victims were probably looking for shelter'

(Newser) - Skeletal remains of what are believed to have been a rich man and his male slave attempting to escape death from the eruption of Mount Vesuvius nearly 2,000 years ago have been discovered in Pompeii, officials at the archaeological park in Italy said Saturday. Parts of the skulls and...

Christmas Catalog for the Rich Is a Little Different This Year

Focus is on staying comfortable at home, or visiting remote parts of US

(Newser) - This year's Neiman Marcus catalog of "Fantasy Gifts" for the super-rich has been released—and while there's no shortage of items for the 1% to splurge on, the 2020 book's focus is largely on staying home comfortably, and all the jet-setting trips available are within the...

An American Has Become the Richest Woman on Earth

Surge in tech stocks raises MacKenzie Scott's wealth to $68B

(Newser) - The recent surge in tech stock prices has shaken up the rankings of the world's billionaires—and made MacKenzie Scott the richest woman on the planet, thanks to the 4% stake in Amazon she received in her 2019 divorce from Jeff Bezos. Her estimated net worth of $68 billion...

Thailand Resurrects 8-Year-Old Case Against Red Bull Heir

Thai PM orders investigation into fatal 2012 hit-and-run involving Vorayuth 'Boss' Yoovidhya

(Newser) - Thailand's prime minister responded Wednesday to growing public furor by ordering a probe into the dropping of criminal charges against a Thai heir to the Red Bull energy drink fortune, accused of killing a policeman in a hit-and-run accident eight years ago. The case involving Vorayuth Yoovidhya, whose family...

Jeff Bezos' Wallet Just Had a Record-Setting Day

Amazon founder added $13B to his net worth on Monday

(Newser) - How do you treat yourself when you make $13 billion in one day? We'll have to ask Jeff Bezos, who, per Bloomberg , saw that amount added to his net worth Monday, the largest single-day boost to one person's wealth since the Bloomberg Billionaires Index began in 2012. A...

2018's 'Maddening' Tax Rates Unveiled
2018's 'Maddening'
Tax Rates Unveiled
NEW STUDY

2018's 'Maddening' Tax Rates Unveiled

400 richest US households paid lower rate than bottom 50%: economists

(Newser) - America's richest billionaires paid a lower average tax rate than the working class for the first time in US history in 2018, according to a new study. The book-length research, The Triumph of Injustice , comes from Emmanuel Saez and Gabriel Zucman, the same economists who inspired Elizabeth Warren's...

Meet the World's Richest Female Musician and Her $600M

That would be Rihanna, per 'Forbes'

(Newser) - The world's richest female musician has a net worth of $600 million—and it's mainly not from her music. Forbes has bestowed the honor upon Rihanna, noting that the bulk of her fortune (about $570 million of it) comes from the Fenty Beauty cosmetics line she co-owns with...

For First Time in 24 Years, a New No. 1 on Forbes 400

Jeff Bezos unseats Bill Gates

(Newser) - Jeff Bezos recently became the richest person in modern history , and on Wednesday came another milestone for the Amazon founder: For the first time since 1994, Bill Gates has been unseated at the top of the Forbes 400. Bezos is the first new No. 1 in 24 years, with a...

NYC No Longer Has the Most Super-Rich People

That honor transfers to Hong Kong

(Newser) - Looking to hobnob with the rich but not necessarily famous? Although New York City used to be where you'd be find the largest population of super-rich people in the world, Hong Kong has taken over the top spot this year, CNNMoney notes. That's per a new report from...

'Gambling Mecca' Is About to Become Richest Place on Earth

Macau is set to surpass Qatar, per a new IMF ranking

(Newser) - A "gambling mecca" is set to oust Qatar as the richest place on Earth, per the International Monetary Fund's newest stats. Bloomberg reports that the IMF's World Economic Outlook database has pegged Macau as the planet's wealthiest place, with its economy on track to reach the...

Seattle Approves Rich-Only Income Tax

GOP leader calls for 'forceful resistance'

(Newser) - Supporters waved "Tax the Rich" signs Monday as Seattle's city council voted unanimously to do exactly that. By a vote of 9-0, the council approved an income tax that only applies to wealthy residents, with the 2.25% tax starting at income above $250,000 for individuals and...

Stop Carping About the 1%, Open Your Eyes to the 20%

The upper middle class is where the real problem is, writes columnist

(Newser) - For all the talk in the US about rising income inequality and the fatcats who make up the 1%, America seems blind to a more prevalent disparity: the upper middle class and all those below them. British transplant Richard Reeves writes in the New York Times that he was surprised...

This Is the World's Most Expensive Bed

The Vividus out of Sweden will set you back $150K

(Newser) - Back in 2006, one of the world's most reputable bed makers, Hästens out of Sweden, launched the Vividus, a bed that took 160 hours to build and came with an astonishing price tag of $112,900. Created to improve on the company's already exceptional mattresses, some of...

Trump Stacking His Team With Billionaires, Millionaires

His administration could be richest ever—worth up to $35B

(Newser) - Donald Trump ran on a "drain the swamp" platform in which he positioned himself as a man of the people. Which is why eyebrows are being raised at him tapping ex-Goldman Sachs bigwig Steve Mnuchin for Treasury secretary , billionaire investor Wilbur Ross for commerce secretary , and a handful of...

10 Wealthiest US Counties
 10 Wealthiest 
 US Counties 

10 Wealthiest US Counties

Enjoy the spoils, Virginia

(Newser) - It pays to reside in the DC area if you're a) into the political scene or b) looking for bragging rights to living in one of the wealthiest counties in the nation. The Code Black Group checked out median household incomes across the country and found Virginia and Maryland...

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