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☆ 'Dollars up, donors down': More charity money is coming from the ultra-wealthy
▼ + stars: | 2024-03-14 | by ( Robert Frank | ) www.cnbc.com time to read: +5 min

While donations to charity have been rising, the pool of donors is shrinking, as philanthropy becomes hyper-concentrated among a small group of ultra-wealthy mega-donors, according to a new study. While women make up11% of the ultra-high-net-worth population, they account for 22% of the larger givers, according to the study. Today’s ultra-wealthy donors also prefer to give through private foundations and donor-advised funds — which give them more control — rather than simply writing checks to the Red Cross or United Way. The top charitable cause for ultra-wealthy donors was education (at 54%), according to Altrata. "There is some evidence that the ultra-high-net-worth population has different skews from the broader population," Pasic said.

Persons: Melinda Gates, Robert Frank, Mark Suzman, Amir Pasic, Indiana University Lilly, ”, “, Altrata, Pasic Organizations: Gates Foundation, Indiana University, Indiana University Lilly Family School of Philanthropy, Cross, Federal Reserve Locations: Khayelitsha, Cape Town , South Africa, Altrata, North

☆ Family offices have tripled since 2019, creating a new gold rush on Wall Street
▼ + stars: | 2024-03-08 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Experts say family offices now manage $6 trillion or more, and their ranks are growing. According to a new report from Preqin, the number of family offices — the private investing arms of wealthy families — topped 4,500 worldwide last year. North America has the largest share of family offices, with 1,682. Blackstone, KKR and Carlyle have all been expanding their teams, funding events and building products catering specifically to family offices. Now they're more like institutional investors, seeking higher long-term returns with private equity, venture capital, hedge funds, infrastructure and real estate.

Persons: —, Robert Frank, Carlyle, Rachel Dabora, Craig Russell, Blackstone, Russell Organizations: Blackstone, KKR, Wealth Solutions, Private Capital Group, Blackstone's Private Capital Group Locations: Preqin, America, North America

☆ The super-rich are buying more ultra-customized Rolls-Royces and Lamborghinis
▼ + stars: | 2024-02-03 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +10 min

Lamborghini sold more than 10,000 vehicles last year for the first time ever and Ferrari had a more than 17% increase in revenue. But customers purchasing Lamborghinis, Rolls-Royces and Bentleys have an even wider array of infinitely customizable paint colors and interior materials, to start with, than carmakers offer for less expensive brands. If the customer has a favorite shirt, for example, the car paint could be matched to the fabric color. At Dixon’s Rolls-Royce dealership three quarters of the roughly 90 cars sold each year include some degree of custom options, she said. While she and Rolls-Royce’s design team can provide guidance, in the end, the choices have to be the customer’s.

Persons: Royce, Ferrari, Lamborghini, Bentley, ”, Stephan Winkelmann, Lewis Hamilton, Altrata, Royce Cullinan, Javier Gonzalez Lastra, “, ” Gonzalez Lastra, Pietro Frigerio, Kellyn Dixon, Dixon, Bugatti Chiron, Bugatti, Chiron, Lamborghini’s Winkelmann Organizations: California CNN, Lamborghini, Ferrari, Bentley, Royce, CNN, Ferrari’s, Tema, Volkswagen, Ford, Art Basel Miami Beach, Rolls Royce, Bugatti, Bugatti Bugatti Locations: Irvine, California, Newport Beach , California, Irvine , California, Goodwood

Twin Rivers Farm could break records as Tennessee's priciest home if it fetches its $65 million asking price. Apart from the 10,626 square foot main residence, the estate features a barn, guesthouse and a man-made lake, stocked with trout for fishing and swimming. McEwen GroupThe previous record for the most expensive home sold in the state, set in 2010, stood at $28 million. McEwen GroupThe estate has multiple hidden passages leading to a game room, a safe room and a wine cellar. McEwen GroupThe property's barn houses the Keeles' chickens and sheep.

Persons: Tennessee's, Justin Timberlake, Nicole Kidman, Dan McEwen, McEwen, It's, McEwen Group Larry Keele, Larry, He's, " McEwen Organizations: McEwen Group, CNBC, McEwen, Oaktree Locations: Nashville, Leipers, Middle Tennessee, New York , Illinois, California, Twin Rivers, Rivers, Los Angeles, LA, Tennessee, France

☆ Asia's ultra-rich population records largest drop in the world. Here's how North America and Europe did
▼ + stars: | 2023-09-08 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Asia's ultra-high-net-worth population declined by about 10.9% last year, marking the largest regional drop in the world, a report by data firm Altrata showed. Ultra-high-net-worth (UHNW) individuals are those with a net worth of more than $30 million, according to the study. The combined net worth of Asia's super rich population was at $12.13 trillion compared with Europe's $11.73 trillion, the report showed. Europe recorded the second-worst regional performance, with a 7.1% fall to 100,850 high-net worth individuals. Inflationary shocks from Moscow weaponizing energy supplies, which Europe is reliant on, heightened risk aversion and the disruption of supply chains all led to the decline.

Persons: Altrata Organizations: Tech Locations: Ukraine, South Korea, Taiwan, Europe, Moscow

☆ Billionaires are older than you may think
▼ + stars: | 2023-06-02 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Flashy young founders may get a lot of attention, but the typical billionaire is older than you may think. The median age of the world's billionaires is 67, according to a new report from Altrata. The median age of the world's billionaires is 67, according to a new report from data firm Altrata. Only 10% of the world's billionaires are younger than 50 — and over 40% are older than 70. Billionaires, for what it's worth, don't seem ignorant to the fact that they are an older breed.

Persons: Altrata, Elon Musk, Kim Kardashian, Peter Thiel, Jeff Bezos, Larry Ellison, Jack Dorsey, Zuckerberg, Warren Buffett, I've Organizations: Tech, Oracle, CNBC Locations: Omaha

☆ New study pegs the median age of the world's billionaires at 67
▼ + stars: | 2023-05-31 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

While younger tech billionaires like Elon Musk, 51, and Mark Zuckerberg, 39, may dominate the wealth headlines, the majority of the world's billionaires are over retirement age, according to a new study. The median age of the world's 3,194 billionaires is now 67 years old, data firm Altrata said in a report released Wednesday. The findings highlight the wide gap between the perception and reality of the world's billionaires. According to the report, the median age of the world's billionaires has actually increased slightly over the past five years. The U.S. still has the largest number of billionaires in the world by far, with 955, accounting for nearly one-third of the world's billionaires.

Persons: Elon Musk, Mark Zuckerberg, Altrata, Warren Buffett, Bernard Arnault, Imberg, it's, San Organizations: Hong Kong Locations: North America, Asia, Europe, U.S, China, New York, San Francisco, Moscow, London

☆ These are the top 10 cities where the 'super-rich' own homes — 6 are in the U.S.
▼ + stars: | 2023-03-14 | by ( Celia Fernandez | ) www.cnbc.com time to read: 1 min

New York City isn't just the city that never sleeps. It's also the most popular place in the country for the 'super-rich.' A March report from data firm Altrata found that 21,714 ultra-high-net-worth individuals, or those worth over $30 million, own a primary or secondary residence in the city. The U.S. has the largest ultra-wealthy population, according to the report. Over half of the world's top 10 cities of super-rich homeowners are here in the United States, which Altrata says reflects the size of the U.S. wealth market and its geographic and business diversity.

☆ These are the top 10 cities where the super-rich own property — and half of them are in the US
▼ + stars: | 2023-03-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +1 min

New York City is the most popular place for the super-rich to own property, according to a survey. US cities dominated the list from data firm Altrata, claiming half the top 10 spots. Three cities in Asia — Hong Kong, Beijing, and Singapore — also made the global top 10. Miami and London were also named among the top cities. Three cities in Asia — Hong Kong, Beijing, and Singapore — also made the global top 10.

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