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☆ The Author of ‘Crazy Rich Asians’ Can’t Go Home, Except in His Books
▼ + stars: | 2024-05-20 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +1 min

A reader of Kevin Kwan’s books could be forgiven for expecting him to make a grand entrance at lunch in Beverly Hills — in a Lamborghini, perhaps, or wearing a slick pair of shades. He wore tortoiseshell glasses, a blue cardigan and hair cut for maximum pensive tucking behind ears. Kwan immediately moved a vase of white roses from one table to another — “Do you mind? His debut novel, “Crazy Rich Asians,” published in 2013, has sold more than 5 million copies worldwide and been translated into over 40 languages. The movie version was the first since “The Joy Luck Club” to feature a majority Asian cast.

Persons: Kevin Kwan’s, Kwan, David Foster Wallace, —, Crustacean’s, “, Helene An, ”, Rich, Joy Organizations: Lamborghini, Joy Luck Locations: Beverly Hills, cardigan

☆ New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins
▼ + stars: | 2023-11-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The great wealth transfer is gaining significant momentum as many billionaire entrepreneurs age,” Benjamin Cavalli, who oversees strategic clients in the global wealth management unit at UBS, told reporters. Their combined wealth rose 9% to $12 trillion, before taking inflation into account. Arnault is the world’s third-richest man, with a net worth of $167 billion, according to the Bloomberg Billionaires Index. Risks and opportunity for UBSThe “staggering” transfer of wealth to younger generations presents a huge opportunity for UBS, but also poses considerable risks, according to Cavalli. Heirs lean more toward impact investing — that is, socially or environmentally beneficial investing — over “classic grant-giving philanthropy,” Cavalli said.

Persons: “, ” Benjamin Cavalli, LVMH's Bernard Arnault, Helene, Frederic, Delphine, Antoine, Alexandre, Bernard Arnault, Arnault, Tesla’s Elon Musk, Jeff Bezos —, —, India’s Gautam Adani, Mukesh Ambani, Cavalli, ”, Morgan Stanley —, Stefan Wermuth, ” Cavalli, Charlie Munger, Henry E Organizations: London CNN, UBS, Bloomberg, Adani Group, Reliance Industries, Suisse, Getty, ”, Berkshire Hathaway, Huntington Library, Art Locations: Paris, Europe, France

☆ Wolfgang and Helene Beltracchi fooled the art market — and made millions
▼ + stars: | 2023-02-07 | by ( Oscar Holland | ) edition.cnn.com time to read: +12 min

“The forgery was almost incidental,” Wolfgang told Fischer. “They are storytellers, together, which is why they did a lot of research,” Fischer told CNN in a video call. Wolfgang told her that he only produced pictures he considered beautiful, and he believed the owners enjoyed them as much as the art market profited from them. In 2014, Wolfgang told CBS’ “60 Minutes” that in addition to the court-imposed damages, he had settled lawsuits worth $27 million. From her conversations with Wolfgang, Fischer concluded that both of his parents were “severely traumatized” by their experiences during World War II.

Persons: Wolfgang Beltracchi, Heinrich Campendonk —, Steve Martin, Wolfgang, Helene, Heinrich Campendonk, Peter Endig, Max Ernst, Fernand Léger, Kees van Dongen, Derain, Jeannette Fischer, Fischer, ” Wolfgang, “, ”, ’, ” Fischer, Paul Hahn, Hendrick Avercamp, Christie’s, Robin Hood, hadn’t, CNN Fischer, Picasso, —, aren’t, Leonardo da Vinci’s, Salvador Mundi, Andy Warhol, Vincent van Gogh Organizations: CNN, New York Times, Der, Art, CBS, Scheidegger Locations: Halle, Germany, Hitler’s Germany, Switzerland, France, Cologne, ”, Stalingrad

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