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☆ UK's ultra-rich feel the pinch from Labour's tax-raising budget
▼ + stars: | 2024-11-05 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

New arrivals to the U.K. will receive 100% U.K. tax relief for their first four years, so long as they have been non-resident for the last 10 years. That's in addition to the £21.1 billion the independent Office for Budget Responsibility (OBR) forecast to be raised by earlier changes to the non-dom regime announced by the Conservatives in March. "Although the draft legislation has now been released, the Government still has time to create a new non-dom system that works for internationally-mobile individuals," Porter said in a statement. If they'd gone for the tiered (system), there would have been howls that you've given into the fat cats. "If they'd gone for the tiered (system), there would have been howls that you've given into the fat cats," he said.

Persons: Mike Kemp, Rachel Reeves, Reeves, Times Rich, David Lesperance, Lesperance, Steven Porter, Porter, they'd, Leslie Macleod Miller Organizations: Ford, Labour, Finance, —, Times, Associates, CNBC, Conservatives, Treasury, Government, Foreign Investors, Britain, Lesperance Locations: Kuwait, Burlington, Bond, London, United Kingdom, City, That's, Italy, Switzerland, Dubai

☆ British billionaire slashes the price of his London mansion by $13 million, saying the rich are fleeing the UK. See inside the storied property.
▼ + stars: | 2024-10-06 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

British billionaire David Sullivan has cut the price of his London mansion by about $13 million. The businessman, who owns the West Ham United soccer club, said he is taking a loss on the property. AdvertisementBritish billionaire David Sullivan has cut the price of his London mansion to £65 million (about $85 million), knocking about $13 million off of the previous asking price. AdvertisementDavenport purchased the house from the Sierra Leone High Commission in 1999.Who is David Sullivan? David Sullivan.

Persons: David Sullivan, Sullivan, —, Knight Frank, Knight Frank Sullivan, Edward Davenport, Kate Moss, Provocateur, Amy Winehouse, Knight Frank Davenport's, Paris Hilton, Daniel Radcliffe, Davenport, Chris Brunskill, Sunday Times Rich Organizations: West Ham United soccer, Service, West Ham United, Bloomberg, Guardian, Sierra Leone High Commission, Getty, Sunday Times, Daily Sport, Sunday Sport, Times, I'm Locations: London, Monaco, Dubai, Marylebone, Portland, Paris

☆ 63-year-old CEO shares the top 3 red flags she sees in employees: ‘No one wants to be in their presence'
▼ + stars: | 2024-07-29 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

McKissack, 63, is the founder and CEO of Washington D.C.-based construction firm McKissack & McKissack, which she launched with $1,000 from her savings in 1990. She churned through employees who weren't the right fit in her company's early years and the business struggled, she says. These three red flags stand out the most when McKissack is hiring employees or evaluating her current talent, she says. People who lack integrityEvery boss needs to be able to trust their employees, McKissack says. "If I don't want to be in their presence, then no one wants to be in their presence, usually" she says.

Persons: McKissack, they're, Heidi K, Gardner, Steve Adcock, Adcock Organizations: Washington D.C, CNBC, Harvard Law School

☆ How to boost your EQ at the office—even if you work remotely, according to a career expert
▼ + stars: | 2024-07-03 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

He cited one thing he wished he knew in his 20s that could have made him wealthier, faster. "Your personality will get you 10 times richer than your intelligence," Adcock told me. "EQ is going to get you way more money and way more opportunities for promotion than IQ," Adcock said. I interviewed Vicki Salemi, a career expert with Monster.com on ways to boost your EQ in the workplace. "It may feel a little outside of your comfort zone — that's natural," she says.

Persons: Steve Adcock, Adcock, Vicki Salemi, Salemi

☆ UK millionaires are fleeing Britain in their thousands
▼ + stars: | 2024-06-18 | by ( Mark Thompson | ) edition.cnn.com time to read: +4 min

The continuing exodus from the UK — 16,500 millionaires left between 2017 and 2023 — is part of a global mass migration of the rich that appears to be accelerating. The Henley Private Wealth Migration report found that 128,000 millionaires are set to relocate this year, beating last year’s record by 8,000. By contrast, the ranks of the wealthy have grown in the US, Canada, Australia, Germany and France over the same period. “The outflow of high-net-worth individuals already generated by the economic and political context is now being accelerated by policy decisions ahead of the election,” said White. Still, one very rich couple will apparently be staying, whatever the result on July 4.

Persons: Henley, ” Hannah White, —, ” Dominic Volek, Liz Truss, Keir Starmer’s, Rishi Sunak’s, Starmer, Rachel Reeves, ”, White, Akshata Murty, Sunday Times Rich, King Charles, Sunak Organizations: London CNN, Labour, Henley & Partners, Institute for Government, City of, Henley Private Wealth, European Union, Bank of England, Keir Starmer’s Labour Party, Sunday Times Locations: United Kingdom, City of London, China, Japan, Hong Kong, Canada, Australia, Germany, France, Ukraine, England

☆ 'Your personality will get you 10 times richer than your intelligence,' says self-made millionaire who retired at 35
▼ + stars: | 2024-04-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +5 min

"Coming out of college, I just kind of assumed I'd have to be the smartest person in the office. But in the real world, your emotional intelligence — sometimes called EQ — is every bit as essential, if not more so, he says. "Your personality will get you 10 times richer than your intelligence," Adcock says. Steve Adcock left his corporate job in 2016 at age 35, having saved about $900,000. It could be the person whose career you aspire to have or the colleague you enjoy working with the most.

Persons: Adcock, he's, Steve Adcock, That's what's, Vicki Salemi, Monster, Salemi Organizations: CNBC

☆ Elon Musk's wealth has crashed by $160 billion from its peak as Tesla's problems pile up
▼ + stars: | 2024-04-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The stock drop has fueled an estimated $160 billion decline in Elon Musk's net worth. AdvertisementTesla's mounting troubles have dealt a heavy blow to Elon Musk's net worth. However, Musk's net worth has plunged by about $160 billion since then to $178 billion at Tuesday's close. Musk's net worth has taken a big hit from the decline because his 13% stake in the automaker makes up a big chunk of his wealth. He topped the Bloomberg rich list with a $229 billion fortune in January, but his net worth has crashed by $51 billion, or 22%, since then.

Persons: —, Elon, Warren Buffett, LVMH's Bernard Arnault, Jeff Bezos, Meta's Mark Zuckerberg, Musk, He's, Zuckerberg, isn't Organizations: Service, Bloomberg, SpaceX, Buffett, Tesla, Twitter Locations: Elon Musk's

☆ The superyacht version of a 'French palace' is being put up for sale for $23 million by the Barclay family
▼ + stars: | 2023-10-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The UK's billionaire Barclay family is looking to sell the "Lady Beatrice," a 197-foot-long superyacht. The Barclay family, which owns The Telegraph media group, has put up the "Lady Beatrice" for sale for 22 million euros, or $23.2 million, according to a listing by its broker, Edmiston. One writer on autoevolution, a car and transportation site, was so impressed that they called the superyacht "the floating version of a French palace." The Barclay family is known to be very private. AdvertisementAdvertisementEdmiston and the Barclay family did not immediately respond to requests for comment from Insider outside regular business hours.

Persons: Barclay, Beatrice, —, Beatrice Cecelia Taylor, Frederick, David Barclay, David, Sunday Times Rich, Forbes, Hiroko, Frederick's Organizations: The Telegraph, The Times, Service, Telegraph, Lloyds Banking Group, Sunday Times, Bloomberg

☆ Former Harrods owner Mohamed Al Fayed, whose son was killed in crash with Princess Diana, dies at 94
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: +3 min

Mohamed Al Fayed during Dodi Al Fayed and Diana Memorial Unveiled at Harrods at Harrods in London, Great Britain. (Photo by David Lodge/FilmMagic)Mohamed Al Fayed, former owner of the famed Harrods department store in London whose son was killed in a car crash with Princess Diana, has died, his family said Friday. Al Fayed, a self-made Egyptian businessman who also once owned the Fulham Football Club, was devastated by the death of son Dodi Fayed in the car crash in Paris with Princess Diana 26 years ago. Al Fayed was also a key player in the "cash for questions" scandal that roiled British politics in the 1990s. Al Fayed applied for British citizenship, but his application was rejected in both 1995 and 1998.

Persons: Mohamed Al Fayed, Dodi Al Fayed, Diana Memorial, David Lodge, Princess Diana, Al Fayed, Dodi Fayed, Mohamed, ″, ″ Al Fayed, Dodi, Diana, Prince Philip, Queen Elizabeth II, Philip, Prince Charles, Tony Blair, Diana's, Sarah McCorquodale, Tiny, Rowland, Fraser, Neil Hamilton, Hamilton, Desmond Browne, Fayed, Al Fayed's, Sunday Times Rich Organizations: Harrods, Fulham Football Club, Fulham, London, CIA, Department of Trade, Industry, Ritz, Sunday Times Locations: Harrods, London , Great Britain, London, Paris, British, Alexandria, Egypt, Britain, Al

☆ Steve Ballmer's $120 billion fortune makes him richer than Warren Buffett, Mark Zuckerberg, and Google's cofounders. The former Microsoft CEO can thank AI hype and a contract quirk.
▼ + stars: | 2023-07-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Steve Ballmer is richer than Warren Buffett, Mark Zuckerberg, Larry Page, and Sergey Brin. The former Microsoft CEO is worth $120 billion, thanks to his estimated 4% stake in the company. Page and Brin have added $28 billion and $26 billion to their respective fortunes in 2023, lifting their net worths to $111 billion and $106 billion. Ballmer's fortune has ballooned this year thanks to Microsoft stock climbing to historic highs. The former Microsoft chief trails Larry Ellison ($133 billion) and Bill Gates ($137 billion) by some distance in Bloomberg's wealth index.

Persons: Steve Ballmer, Warren Buffett, Mark Zuckerberg, Larry Page, Sergey Brin, Ballmer isn't, Sergey Brin —, didn't, Bill Gates, Jeff Bezos, Larry Ellison, Zuckerberg, Brin, Elon Musk, Bernard Arnault, Buffett, Ballmer's, Ballmer, Page, Brin haven't, he's Organizations: Microsoft, Service, Google, Bloomberg, Forbes, LA Clippers, Berkshire Hathaway, Gates Foundation, Meta Locations: Wall, Silicon, Berkshire

☆ A 30-year-old university dropout and former Pizza Hut delivery driver is now worth $1.1 billion — 3 times more than Ed Sheeran
▼ + stars: | 2023-05-21 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Ben Francis is a university dropout and former Pizza Hut delivery driver who founded Gymshark. The 30-year-old is up seven places to 184th on this year's Sunday Times Rich List. He's now worth £900 million, or $1.1 billion, putting him up seven places to 184th on this year's Sunday Times Rich List. After leaving Aston University in Birmingham, England, Francis cofounded the sportswear company Gymshark. The pair were turning over about £300 a day at that time, Francis wrote.

☆ SP Hinduja, billionaire head of Britain’s richest family, dies at 87
▼ + stars: | 2023-05-17 | by ( ) edition.cnn.com time to read: +2 min

London Reuters —Srichand Hinduja, the Indian-born billionaire leader of a global business empire and the patriarch of Britain’s wealthiest family, has died aged 87, his daughters said on Wednesday. “It is with deep sadness that we announce the passing of our father,” Hinduja’s daughters Shanu and Vinoo said in a statement. More recently the brothers have been embroiled in a feud over the future of their business empire and Gopichand had challenged the legitimacy of a lasting power of attorney granted to Srichand’s daughters. Gopichand and Srichand’s daughters had reached an apparent truce, but a lawyer representing Srichand’s interests told a London court last month that that agreement was at risk. “Amongst other things, SP will be remembered for his great contributions in bringing India and its culture to the global stage through his work and philanthropic efforts,” Hinduja’s daughters said.

☆ A betting company boss took a pay cut, but still collected $318 million – making her one of the world's best-paid executives
▼ + stars: | 2023-01-07 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Denise Coates, founder of Bet365, took home at least £263 million in the 12 months to March 2022. Coates has earned about £1.5 billion from the online betting firm since 2016, The Guardian reported. The haul is less than the £300 million Coates collected for the 2021 financial year, and considerably less than the £471 million she took home in 2020. Coates began as a cashier in her father's betting shops in Stoke-on-Trent, England. After correctly predicting that betting would move online, Coates bought the domain Bet365.com for $25,000 in 2000.

☆ Rishi Sunak is worth almost $850 million, making him Britain's richest prime minister. Here's why that could be a big problem.
▼ + stars: | 2022-10-30 | by ( Ryan Hogg | Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

UK Prime Minister Rishi Sunak is worth about $850 million according to the Sunday Times Rich List. With wealth that rivals King Charles III, the former finance minister is the richest UK leader ever. The 42-year-old former chancellor (finance minister) has a net worth of £730 million ($847 million) according to the Sunday Times Rich List, and was ranked 222nd in May. Queen Elizabeth II was estimated to be worth about $440 million before her death, according to the Sunday Times. The ex-finance minister has a 19th century, Grade II-listed mansion in Yorkshire as well as a London home worth millions.

☆ Britain's new PM is almost a billionaire — with a net worth twice that of King Charles
▼ + stars: | 2022-10-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Rishi Sunak and his wife Akshata Murty have an estimated combined wealth of £730 million ($800 million). Dan Kitwood | Getty Images News | Getty ImagesLONDON — Britain's new Prime Minister Rishi Sunak made history as the country's first leader of color and its youngest in recent centuries, taking office aged just 42. He also breaks the record for being the wealthiest-ever occupant of Downing Street — with a fortune estimated to exceed that of King Charles III. A net worth of $844 millionTogether, the couple has an estimated fortune of £730 million ($844 million), according to the Sunday Times Rich List. King Charles III welcomes Rishi Sunak during an audience at Buckingham Palace, London, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government.

☆ U.K. Prime Minister Rishi Sunak’s Wealth Is Targeted by Critics
▼ + stars: | 2022-10-27 | by ( Alistair Macdonald | ) www.wsj.com time to read: 1 min

LONDON— Rishi Sunak , one of Britain’s richest-ever prime ministers, is under pressure over his personal wealth, which opposition politicians say leaves him out of touch with a population strained by high inflation and bracing for spending cuts and a likely recession. His family wealth—estimated at 730 million pounds, equivalent to $846 million, by the Sunday Times Rich list—and tax position was highlighted in Parliament on Wednesday. One Labour Party lawmaker said the average nurse in the state-run National Health Service would have to work 20,000 years to accumulate the same riches.

☆ What do Indians think about Rishi Sunak’s rise? Like UK-India relations, it’s complicated
▼ + stars: | 2022-10-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +13 min

Now, an Indian-origin man has become the Prime Minister of England,” a Zee News anchor said. Leon Neal/Getty Images Sunak and Boris Johnson watch as a sheep is sheared during a visit to a farm in North Yorkshire, England, in July 2019. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022. Indian Prime Minister Narendra Modi suggested as much in a tweet welcoming Sunak’s appointment.

☆ Akshata Murty: Rishi Sunak’s wife is a software heiress who’s richer than royalty
▼ + stars: | 2022-10-25 | by ( Tara John | ) edition.cnn.com time to read: +6 min

And thanks largely to his wife Murty, Sunak will be one of the richest people to reach the top of the political establishment. Murty has a 0.93% stake in her father’s Indian software company, Infosys, worth approximately $715 million. Even Queen Elizabeth wasn’t as rich – the Sunday Times put the late monarch’s net worth at £370 million (about $420 million) before she died. In April, it was reported that Murty enjoyed a tax status in the UK that meant she could legally avoid to pay taxes on her foreign earnings. “I understand and appreciate the British sense of fairness and I do not wish my tax status to be a distraction for my husband or to affect my family.

☆ UK's Rishi Sunak becomes richest ever occupant of Number 10
▼ + stars: | 2022-10-25 | by ( Alistair Smout | ) www.reuters.com time to read: +5 min

The wealth of Sunak's family puts him above the previous richest prime minister, who according to the Guineas Book of World Records was Edward Stanley. "Rishi Sunak's words will do nothing to reassure struggling people worried sick about the winter ahead," leader of the pro-EU Liberal Democrats Ed Davey said, calling Sunak "out-of touch". The couple faced criticism and public anger in April over Murthy's "non-domiciled" tax status which meant she did not pay tax in Britain on her earnings abroad. "This is the same Rishi Sunak who as Chancellor failed to grow the economy, failed to get a grip on inflation, and failed to help families with the Tory cost of living crisis," Labour deputy leader Angela Rayner said in statement on Monday. "And it's the same Rishi Sunak whose family avoided paying tax in this country before he put up taxes on everyone else."

☆ New UK PM Rishi Sunak is a child of privilege, married into almost $1 billion in tech money, and takes over a country struggling to afford heating
▼ + stars: | 2022-10-25 | by ( Mia Jankowicz | Yoonji Han | ) www.businessinsider.com time to read: +8 min

Rishi Sunak will soon become the new prime minister of the UK. It's a union that made Sunak the first frontline UK politician to enter The Sunday Times' annual wealth listing. Sunak and his wife, Akshata Murthy, celebrating the British Asian Trust at the British Museum on February 2022. But despite his attempts to portray a down-to-earth image, the British public has had numerous reminders that Sunak has a very different experience with money than most people. His supporters, including British chancellor Jeremy Hunt, argue that Sunak's experience in finance and at the treasury make him the right man for the job.

☆ Rishi Sunak set to become UK PM after meeting King Charles
▼ + stars: | 2022-10-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

Rishi Sunak has been named as the U.K.'s new prime minister and the country's first leader of color. Jeff J Mitchell | Getty Images News | Getty ImagesLONDON — Rishi Sunak will become the U.K.'s third prime minister of the year Tuesday following a meeting with King Charles III. Sunak was elected party leader by fellow Conservative lawmakers on Monday following the resignation of Liz Truss on Thursday. watch nowThe 42-year-old will be the youngest U.K. prime minister since 1812, and the first person of color to lead the country, which U.S. President Joe Biden said Monday was "a groundbreaking milestone." Sunak's parents are of Indian descent and in the 1960s moved from East Africa to the U.K. Sunak also has the greatest personal wealth of any of his predecessors.

Like Truss, Sunak promised a tough approach to illegal immigration and vowed to expand the government’s controversial Rwanda immigration policy. At the time Johnson was running to lead Britain's Conservative Party and Sunak was a member of Parliament. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Danny Lawson/PA/Getty Images Sunak delivers a speech during the annual Conservative Party Conference in Manchester in October 2021. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022.

☆ Adidas is on the hot seat to cut ties with Kanye West
▼ + stars: | 2022-10-24 | by ( Jon Sarlin | ) edition.cnn.com time to read: +6 min

Balenciaga and Vogue publicly cut ties last week, and on Monday talent agency CAA dropped West as a client, and production company MRC said that it’s shelving a documentary on West. Celebrities including Kat Dennings, Josh Gad and Meg Stalter condemned Adidas for sticking by West. We are waiting @adidas,” read Shannon Watts’ tweet in response to the incident that received more than 100,000 likes. Earlier this month after West wore a “White Lives Matter” shirt in public, Adidas said that it was reviewing its lucrative partnership with his Yeezy brand. With pressure mounting and West’s hate campaign against Jewish people continuing, it seems the question is when, not if, Adidas will cut ties.

☆ The Rothschild family is worth an estimated $1 billion. Meet the remaining heirs of the legendary dynasty.
▼ + stars: | 2012-02-07 | by ( Ben Walsh | Talia Lakritz | ) www.businessinsider.com time to read: +1 min

The Rothschild family amassed their fortune from their powerful European banking dynasty. Lord Jacob Rothschild and his wife Serena had four children: Hannah, Beth, Emily, and Nat. AdvertisementHaving defined several eras of financial history and established banks across Europe, the Rothschild family's impact remains wide-reaching. Following Lord Jacob Rothschild's death on Monday at the age of 87, the focus now turns to the heirs to the family fortune, worth an estimated $1 billion, according to a 2023 report by the Sunday Times Rich List. Here are the Rothschild family members now at the helm of one of the world's most powerful financial dynasties.

Persons: Rothschild, Lord Jacob Rothschild, Serena, Hannah, Beth, Emily, Nat, —, Jacob Rothschild's, Sunday Times Rich Organizations: Service, Sunday Times Locations: Europe

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