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☆ LVMH may have to settle for a more humdrum future
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The disappointing results knocked 6% off LVMH stock on Wednesday and dragged down rivals Richemont (CFR.S) and Kering (PRTP.PA) which also fell about 3%. That may compound investor worries about an overall slowdown of the company that’s behind Louis Vuitton and Christian Dior (DIOR.PA). And China’s economic slowdown and a possible U.S. recession make their future even more uncertain. LVMH is trading at 20 times its expected 2023 earnings after Wednesday's fall. If the less exuberant times keep rolling, LVMH may find itself settling for an even less luxurious valuation.

Persons: Richemont, Bernard Arnault’s, Louis Vuitton, Christian Dior, Karen Kwok, Aimee Donnellan, Streisand Neto Organizations: Reuters, UBS, Hermès, Reuters Graphics Reuters, Qantas, Thomson Locations: Asia, Japan, Brussels

☆ The number of people with at least $100 million has doubled since 2003
▼ + stars: | 2023-10-10 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

The population of the super wealthy, or those worth $100 million or more, doubled over the past 20 years as asset prices soared around the world, according to a new report. The rise of tech wealth, especially in the U.S., has also helped fueled the growth in the super-wealthy. The number of billionaires in the world has skyrocketed from under 500 in 2003 to more than 2,600 today, according to Forbes and other wealth-tracking firms. "The value of money has declined, so in dollar terms, you would expect more centi-millionaires," said Andrew Amoils, head of research at New World Wealth. The U.S. is still the dominant capital of entrepreneurship and centi-millionaires, with 38% of the global population of people worth $100 million or more, according to the report.

Persons: Andrew Amoils, It's, Amoils Organizations: Henley & Partners, Forbes Locations: U.S, centi, Asia

☆ These books are being used to train AI. No one told the authors
▼ + stars: | 2023-10-08 | by ( Leah Asmelash | ) edition.cnn.com time to read: +7 min

CNN —Almost 200,000 books are being used to train artificial intelligence systems by some of the biggest companies in technology. Books3 is already the subject of multiple lawsuits against Meta and other companies using the system to train AI. Now, thanks to a database published by The Atlantic last week pulling from Books3, authors can see whether their books specifically are being used to train these AI systems. They stole a part of me.”Nora Roberts, the prolific romance novelist, has 206 books used in the Books3 database, according to The Atlantic. With the popularity of text-to-image AI systems, visual artists were in same situation last year, discovering their work was being used to train AI without permission.

Persons: Books3, “, ”, Mary H, Choi, “ I’m, I’m, ” Choi, ” Min Jin Lee, Pachinko, ” “, Al, ” Nora Roberts, William Shakespeare, ” Roberts, Nik Sharma, I’d, Sharma, ” Sharma, James Chappel, ” Chappel, ChatGPT, aren’t, Joe Biden, Choi isn’t, Roberts Organizations: CNN, The Atlantic, Meta, New York Times, Food, Millionaires, West, Bloomberg, Guild of America, WGA Locations: Korean

☆ Around 30% of young people want to retire as millionaires—and over half are confident they can do it
▼ + stars: | 2023-10-06 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

Young Americans are setting lofty retirement goals — and they're confident that they'll reach them. To figure out how much you may need in retirement, start by using CNBC Make It's retirement calculator. Regardless of their savings goal, most workers are confident they'll be able to save enough to retire comfortably. Your savings rate is the percentage of your pre-tax income that you put toward a retirement savings account such as a 401(k) or a Roth IRA. Ideally, you should aim for a retirement savings rate of 15%, including any employer match, according to Fidelity.

Persons: —, Zers, Bankrate, Xers, Roth, Marguerita Cheng, DON'T Organizations: Fidelity, CNBC, Blue, Wealth Locations: Bankrate, U.S, — Florida

☆ Some of America's richest people are just not paying their taxes — and millionaires alone could owe up to $34 billion
▼ + stars: | 2023-10-04 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

New IRS data shows that some of America's highest earners are just not paying taxes. Sen. Ron Wyden of Oregon requested data from the IRS on taxpayers who are not filing returns. Nearly 1,000 taxpayers making over $1 million aren't paying up and could owe billions. AdvertisementAdvertisementThe average American taxpayer pays $16,615 in income taxes annually — but for some of the wealthiest Americans, that number is zero. Nearly 1,000 taxpayers who make over $1 million annually didn't file taxes multiple times from 2015 to 2020, according to an IRS memo viewed by Insider.

Persons: Sen, Ron Wyden, —, they're, they've, Wyden, Danny Werfel, you'll Organizations: IRS, Service, Finance, Congressional Republicans, Treasury Department, Department of, Treasury, Harvard University, University of Sydney, Biden, Republican Locations: Oregon

Doreen and Lawrence Delva-Gonzalez had a zero-dollar net worth in 2017. In 2017, Doreen and Lawrence had a net worth of zero dollars. Four years later, the couple had built a net worth of around $500,000, according to records viewed by Insider. "I think the first step is to use a tool like Personal Capital to pull up your net worth and acknowledge where you are," Lawrence said. "People should work on their soft skills because that's going to position them to interview better, so they can make more money," Lawrence said.

Persons: Doreen, Lawrence Delva, Gonzalez, —, Lawrence, They've, Gonzalezes, Read, Roth IRAs, lef, Lawrence's, Lawrence siad Organizations: Service Locations: Upper Marlboro , Maryland, Haiti, Marlboro , Maryland, Tallahassee , Florida

☆ UAW strike: Biden, Trump seek blue-collar votes in swing state Michigan
▼ + stars: | 2023-09-26 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

President Joe Biden is expected to visit a picket line Tuesday in the Great Lake State following a public invitation Friday from UAW President Shawn Fain. UAW members Niko Shinn (front) and Darius Collier (back) walk a picket line on Sept. 25, 2023 outside a Mopar facility owned by automaker Stellantis in Centerline. Fain has appeared with the independent senator from Vermont in Washington, D.C., and during a recent UAW rally in Detroit. Trump led Biden 46% to 43% among union members in an August survey, after Biden led Trump 51 % to 42% in June, according to Bernie Porn, president of EPIC·MRA. "With union members, he has been so supportive of just about everything that union members want.

Persons: Rebecca Cook, Joe Biden, Shawn Fain, Donald Trump, Leah Millis, Trump, Darius Collier, Collier, Stellantis, They've, Biden, Fain, Mark Burton, Gretchen Whitmer, Niko Shinn, Michael Wayland, Whitmer, Debbie Dingell, Sen, Bernie Sanders, Sanders, Fain's, who's, Bernie Porn, Trump's, Jamie Roe, Scott Olson Organizations: GM, United Auto Workers, Louisville Kentucky, Reuters DETROIT, General Motors, Ford Motor, Air Force, Joint Base Andrews, Reuters Biden, Biden, Trump, White, UAW, Michigan Gov, Democrat, Stellantis, CNBC Michigan, U.S . Rep, Washington , D.C, Detroit automakers, GOP, Trump's, Drake Enterprises, Republican, Plant, Getty Locations: Louisville, Detroit , Michigan, Michigan, Great Lake State, Clinton Township , Michigan, U.S, Joint Base Andrews , Maryland, . Michigan, Vermont, Washington ,, Detroit, Macomb County , Michigan, United States, Ford's Wayne, Wayne , Michigan

☆ How a federal government shutdown may affect Social Security and Medicare
▼ + stars: | 2023-09-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Washington lawmakers are scrambling to pass a spending bill before an Oct. 1 deadline. For retirees who rely on Social Security and Medicare, the good news is those programs will mostly be unaffected because they are considered mandatory spending. "Checks will continue to go out," Bill Sweeney, senior vice president of government affairs at AARP, said of Social Security benefits. "Most seniors should be fine, both on the Medicare side and on the Social Security side," said Maria Freese, senior legislative representative at the National Committee to Preserve Social Security and Medicare. If a shutdown happens this time around, it may be brief, according to Bill Hoagland, senior vice president at the Bipartisan Policy Center.

Persons: Bill Sweeney, Maria Freese, Freese, Bill Hoagland Organizations: U.S . Capitol, Social Security, AARP, Finance, National Committee, Preserve Social Security, Center Locations: Washington ,, Washington

☆ This big-ticket purchase may be a 'grenade in your otherwise well-planned retirement,' advisor warns
▼ + stars: | 2023-09-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Americans are at risk of falling short of what they may need to live on financially in retirement. One potential reason is lifestyle creep, or the tendency to upgrade your lifestyle as you earn more. An upgrade people are often tempted to make – the purchase of a second home – may be particularly risky for long-term planning, financial advisors say. "Those bigger purchases, if not done really deliberately and diligently, can almost end up being almost like a grenade in your otherwise well-planned retirement," said Patrick McGinn, president of Retirement Resources Investment Corp. in Peabody, Massachusetts. Importantly, the return on those liquid investments may far exceed what someone may earn on a second home.

Persons: Patrick McGinn, Stephen Cohn, Cohn Organizations: Retirement Resources Investment Corp, CNBC, Finance, Sage Financial Group Locations: Peabody , Massachusetts, U.S, West Conshohocken , Pennsylvania

☆ The very rich are often bad investors. Here’s why
▼ + stars: | 2023-09-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But there are only about 730 billionaires in the country, according to Forbes, and almost none of them inherited longstanding generational wealth. In fact, less than 10% of the current list of billionaires are descended from anyone on the first Forbes’ rich list, published in 1982. If you get the “What?” decision wrong and the sizing decision right, it’s still unfortunate and you’re going to lose money. Every year there’s going to be volatility — one year you’re going to be up 35% and the next year you’re going to be down 25%, but in the long term it will even out to 5%. The current walkout came close to beating the longest strike in WGA history, a 1988 strike that lasted 154 days.

Persons: New York CNN —, Forbes, Victor Haghani, ”, James White, Haghani, LTCM, CNN’s, it’s, you’re, Cornelius Vanderbilt, Chris Isidore, Oliver Darcy, Laura He Organizations: CNN Business, Bell, New York CNN, Forbes, Elm Partners, Term Capital Management, Federal Reserve, Vanderbilt, Writers Guild, Writers Guild of America, WGA Locations: New York, United States, Russia, Hollywood, China, Beijing

☆ Apartment prices in Zurich are skyrocketing, with property being seen as 'concrete gold'
▼ + stars: | 2023-09-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Apartments in Zurich cost around $19,000 per square meter, according to data from Properstar. Transaction prices for apartments in the Zurich region rose 42.3% between 2013 and 2022. UBS said Wednesday that there was a perception of property in the city as "concrete gold." Renting an apartment in the city, meanwhile, cost around 47 Swiss franc ($58) per square meter, according to the Properstar data. UBS said in its Global Real Estate Bubble Index 2023, released Wednesday, that an increasing number of high-income earners and ultra-low interest rates in recent years had helped push up property prices.

Organizations: UBS, Service, Bloomberg, Henley & Partners, Wüest, Swiss National Bank ., Swiss, Google Locations: Zurich, Properstar, Wall, Silicon, Swiss, London, Lake Zurich, Switzerland

☆ Striking auto workers are highlighting their CEOs' multi-million dollar pay. Here's how much the top bosses at Ford, GM and Stellantis make
▼ + stars: | 2023-09-22 | by ( Graham Rapier | Nora Naughton | Associated Press | ) www.businessinsider.com time to read: +10 min

"The reason we ask for 40% pay increases is because in the last four years alone, the CEO pay went up 40%. U.S. companies, in contrast, use grant date value of stock packages awarded to executives during the reporting year. AdvertisementAdvertisementThat's because in some years, talking about a CEO's "realized pay" can obscure exorbitant pay packages approved by company boards. AdvertisementAdvertisementThe CEOs of GM and Ford also saw their compensation packages peak in 2021, before declining slightly in 2022. However you slice the numbers, the gap between CEO pay and rank-and-file workers at all three companies is gigantic.

Persons: Mary Barra's, Shawn Fain, Fain, Mary Barra, James Farley, Jim Hackett, Stellantis, Carlos Tavares, Mike Manley's, Equilar, Tavares, That's, Manley, —, Harry Katz, Tesla, Elon Organizations: UAW, Service, United Auto Workers, Ford, GM, Netflix, Writers Guild of America, WGA, Comcast, Big Three, —, Motors, Chrysler, CBS, Big, General, AP, Equilar, Fiat Chrysler Automobiles, French PSA Group, Fiat Chrysler, Institute, Detroit, Cornell University, U.S Locations: Wall, Silicon, Stellantis, American, European

New York CNN —The United Auto Workers union’s already unprecedented strike against General Motors, Ford and Stellantis could soon get even bigger. So far, the strike, which started early Friday, has targeted only one final assembly plant at each automaker. So, noon on Friday, September 22nd is a new deadline.”While 12,700 union members are on strike, most of the 145,000 members at the three automakers remain on the job. The UAW chose to target final assembly plants first, which has made the initial strikes quite targeted and tactical. Spreading impact of strikeThe impact of the strike will have a ripple impact on other factories beyond the three targeted already by the UAW strike.

Persons: Stellantis, Shawn Fain, Autoworkers, We’re, “ We’re, ”, “, Ford, Lana Payne, Payne, Fairfax, David Barnas, Louis, Biden, Donald Trump, Mike Pence, Fain, Trump Trump, Joe Biden, ” Trump Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, CNN, GM, UAW, Ford Bronco, Companies, GM Stellantis, Jeep, Dodge, Chrysler, Fairfax Assembly, US Steel, Trump Locations: New York, Wayne , Michigan, Canada, United States, Fairfax, Kansas City , Kansas, Wentzville, Granite City , Illinois, St, Detroit

☆ Here are 3 money moves wealthy Americans are more likely to make in times of economic uncertainty
▼ + stars: | 2023-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Almost regardless of how much you have in the bank, it's hard to feel financially secure. Across the board, households are facing surging child-care costs, ballooning auto loans, high mortgage rates and record rents amid economic uncertainty and recessionary fears. And nearly half, or 47%, of wealthy Americans said their financial planning needs improvement. Yet there are things millionaires do that the rest of us may not, Northwestern Mutual's report also found, which can go a long way toward improving long-term well-being. Here are three moves wealthy Americans are more likely to make:

Persons: — Organizations: Finance, Edelman Financial, Bloomberg Locations: Northwestern

☆ The boss of the United Auto Workers union said Tesla workers are 'scraping to get by' so that 'greedy people like Elon Musk can build more rocket ships'
▼ + stars: | 2023-09-19 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

The United Auto Workers president Shawn Fain defended worker demands for a 40% pay increase. He appeared on CBS on Sunday saying a pay rise won't stop automakers from making "billions in profits." He also criticized Tesla CEO Elon Musk, calling him "greedy." "Most of these workers in those companies are scraping to get by so that greedy CEOs and greedy people like Elon Musk can build more rocket ships and shoot their self into outer space. AdvertisementAdvertisementIf the UAW wins on its demands for higher pay, the Detroit 3's hourly labor costs could more than double to $136 an hour, according to Wells Fargo estimates.

Persons: Shawn Fain, Tesla, Elon Musk, Elon, Stellantis —, Fain Organizations: United Auto Workers, CBS, Service, United Auto Workers union, Detroit, Ford, General Motors, UAW, Tesla, Toyota, Workers, GM Locations: Wall, Silicon, United States, Wells

☆ Trump plans to give speech to autoworkers in Detroit, skipping second GOP debate
▼ + stars: | 2023-09-18 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Former US President and 2024 Presidential hopeful Donald Trump speaks at the CWA (Concerned Women for America) Summit 2023 in Washington, DC, on September 15, 2023. Former President Donald Trump is planning to visit Detroit next week to speak with current and former union members instead of attending the Republican primary debate, his campaign told CNBC on Monday. A campaign spokesman confirmed reporting in The New York Times that Trump, the clear front-runner in the race for the 2024 Republican presidential nomination, intends to counterprogram the second primary debate as his rivals compete to catch up to him. Fain has previously said that a second Trump term in the White House would be a "disaster." He skipped the first primary debate last month, opting instead to sit for a pre-taped interview with former Fox News host Tucker Carlson that aired as the debate kicked off.

Persons: Donald Trump, Trump, Detroit carmakers, Shawn Fain, Fain, Trump's, Tucker Carlson, shrugging, Joe Biden Organizations: CWA, America, Detroit, CNBC, The New York Times, United Auto Workers, UAW, Trump, Reagan, Fox News, GOP Locations: Washington ,, California

Here's a look at what lawmakers have voted on:MENTAL HEALTH SYSTEMPolitical Cartoons View All 1160 ImagesSenators on Thursday signed off on putting two proposals before voters next March that would help transform the state's mental health system and address the state’s worsening homelessness crisis. A proposal by Sen. Susan Eggman would overhaul how counties pay for mental and behavioral health programs. Irwin said her bill would bring “the single largest expansion” of the state’s mental health system. Under current state law, local government said their hands are tied if a person refuses to receive help. The legislation is part of the state’s ongoing efforts to reform its mental health system.

Persons: Gavin Newsom, Jacqui Irwin, Sen, Susan Eggman, Newsom, Irwin, Republican Sen, Brian Jones, it's, Eggman, Anthony Portantino, it’s, ” Portantino, Adam Beam Organizations: Democratic Gov, Republican, Hollywood, Business, Workers, LAW, Democratic, Associated Press Locations: SACRAMENTO, Calif, California, Southern California, Newsom's

SACRAMENTO, Calif. (AP) — California lawmakers voted Tuesday to put a proposal before voters next March that would overhaul how counties pay for mental and behavioral health programs in an effort to address the state's worsening homelessness crisis. In 2004, voters approved a special tax on millionaires to help pay for mental health programs. Gavin Newsom wants changes to restrict how local governments can use that money, with an emphasis on mental health and drug and alcohol use programs. Under his plan, two-thirds of revenue from the tax would pay for services for people who are chronically homeless and with severe mental health issues and unhealthy drug and alcohol use. The new mandates would result in a loss of more than $1 billion for existing programs such as mental health outpatients, crisis, recovery and peer-supported services, county officials said in a letter to Newsom over the weekend.

Persons: Sen, Susan Eggman, Gavin Newsom, Jim Wood, Assemblymember Marie Waldron, ” Lawmakers, Jacqui Irwin, Sacramento Mayor Darrel Steinberg, Karen Larsen, ” Larsen, Newsom Organizations: Democratic, Republican, ”, Sacramento Mayor, Steinberg Institute, Mental Health Locations: SACRAMENTO, Calif, California

☆ What it's like in Europe's popular crypto haven Portugal as the U.S. cracks down
▼ + stars: | 2023-09-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

They understood the importance of self custody of bitcoin, bitcoin on bitcoin blockchain, not on other chains." Sunrise over Lisbon, Portugal Alexander Spatari | Moment | Getty ImagesThe San Francisco of EuropeA walk through Portugal's capital feels eerily similar to a stroll in San Francisco. "This makes Portugal a really attractive place for crypto users to live," explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. The only exception to the country's generous crypto scheme relates to companies registered in Portugal that deal in crypto. Cyclists photographed in Lisbon, Portugal, in October 2018.

Persons: Alexander Spatari, PORTUGAL —, maximalists, Lorenzo Primiterra, He's, Peter Pan, Primiterra, Terra Luna, bitcoin, solana, Greenfield, Portugal Alexander Spatari, Jemson Chan, Chan, CNBC Guy Young, Seb True, CNBC Seb, True, That's, it's, bitcoiners, I've, Stephen Knowles, cryptocurrencies, Shehan Chandrasekera, Katie Ananina, Ethena's Young, —, Deley, Deley doesn't, that's, Didi Taihuttu, They've, Taihuttu Organizations: Campo Pequeno, maxis, CNBC Software, CNBC, titans, Securities and Exchange Commission, British, Abril, European, CPA, Cyclists, European Union, D7, Companies, Algarve Locations: LISBON, PORTUGAL, Lisbon, Italy, Portugal, Almada, Lisboa Region, outranking New York, Berlin, Singapore, European, Sunrise, San Francisco of Europe, San Francisco, bitcoin, Europe, Crypto, U.S, Egypt, Asia, Switzerland, it's, Puerto Rico, Australia, Canada, Ghent, Belgium, cryptocurrency, Cryptocurrencies, Lisbon's, Lagos, Angeles, Algarve

☆ The IRS is going after 1,600 millionaires who owe hundreds of millions in overdue taxes, and it's using AI to catch them
▼ + stars: | 2023-09-08 | by ( Fatima Hussein | Associated Press | ) www.businessinsider.com time to read: +3 min

The IRS said it's going after 1,600 millionaires who owe hundreds of millions in overdue taxes. The agency said it will also be targeting 75 large business partnerships in the same situation. He said 1,600 millionaires who owe at least $250,000 each in back taxes and 75 large business partnerships that have assets of roughly $10 billion on average are targeted for the new "compliance efforts." AdvertisementAdvertisementIRS commissioner: 'We have more hiring to do'The newly announced tax collection effort will begin as soon as October. House Republicans built a $1.4 billion reduction to the IRS into the debt ceiling and budget cuts package passed by Congress this summer.

Persons: it's, Daniel Werfel, Werfel, Joe Biden's, Biden Organizations: IRS, Service, Wall, dodgers, Joe Biden's Democratic, Congress, House Republicans Locations: Wall, Silicon

WASHINGTON (AP) — The IRS announced on Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes. “If you pay your taxes on time it should be particularly frustrating when you see that wealthy filers are not,” Werfel told reporters in a call previewing the announcement. He said 1,600 millionaires who owe at least $250,000 each in back taxes and 75 large business partnerships that have assets of roughly $10 billion on average are targeted for the new “compliance efforts." Werfel said a massive hiring effort and AI research tools developed by IRS employees and contractors are playing a big role in identifying wealthy tax dodgers. House Republicans built a $1.4 billion reduction to the IRS into the debt ceiling and budget cuts package passed by Congress this summer.

Persons: Daniel Werfel, ” Werfel, Werfel, Joe Biden's, “, “ It’s, Biden Organizations: WASHINGTON, IRS, dodgers, Joe Biden's Democratic, Congress, House Republicans

☆ I.R.S. Deploys Artificial Intelligence to Target Rich Partnerships
▼ + stars: | 2023-09-08 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

has simply not had enough resources or staffing to address partnerships; in a real sense, we’ve been overwhelmed in this area for years.”Mr. Werfel explained that artificial intelligence is helping the I.R.S. identify patterns and trends, giving the agency greater confidence that it can find where larger partnerships are shielding income. The agency said it would open examinations of 75 of the nation’s largest partnerships, which were identified with the help of artificial intelligence, by the end of the month. The focus on partnerships is part of a broader push by the I.R.S. Mr. Werfel said that the agency is dedicating dozens of revenue officers to pursue 1,600 millionaires who the I.R.S.

Persons: ” Daniel Werfel, we’ve, ” Mr, Werfel

☆ Crypto has minted tens of thousands of new millionaires, but they're still only 0.02% of everyone who's ever bought digital currency, a new wealth report says
▼ + stars: | 2023-09-07 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

At least 88,200 people have $1 million or more in cryptocurrencies, a new wealth report said. That's out of 425 million total crypto users around the world, according to Henley & Partners. A fortunate few — 182 users — have cryptocurrencies worth more than $100 million, the report said. Crypto-millionaires are defined as people who have at least $1 million in cryptocurrency assets, per the firm's Crypto Wealth Report 2023. But the world's wealthy crypto users are starting to outnumber the number of high-net-worth individuals in entire countries, such as Russia, which has 65,000 millionaires, and Saudi Arabia, which has 52,000 millionaires, per Amoils' estimate.

Persons: That's, Andrew Amoils, Dominic Volek, Volek, — Organizations: Henley & Partners, Service Locations: cryptocurrencies, Wall, Silicon, London, Russia, Saudi Arabia, cryptocurrency

☆ There are just six bitcoin billionaires in the world, new crypto super-rich report says
▼ + stars: | 2023-09-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

A new report shows how many crypto millionaires and billionaires exist. Hundreds of millions of people around the world have some form of crypto holdings, whether that is in bitcoin or one of the many other digital currencies. To be exact, 425 million people use crypto, according to Henley & Partners' Crypto Wealth Report, which was released by the investment migration consultancy on Tuesday. And 22 people have crypto holdings worth at least $1 billion. Six of them hold their investments in bitcoin — a far smaller proportion than among the crypto millionaires and centi-millionaires.

Persons: Crypto, Gen Organizations: Henley & Partners, CFA Institute, Financial Industry, Investor Education Foundation, Pew Research Locations: bitcoin

New Delhi CNN —The bulldozers and government officials arrived just before dawn, tearing down the row of shanties as its bewildered residents watched inconsolably nearby. CNN has reached out to the New Delhi and federal governments but is yet to receive a response. Rhea Mogul/CNN“I can’t explain how distraught everyone was as they bulldozed the homes,” Savita said. The demolitions are being done with extreme cruelty.”Savita helps her children with homework at a temporary home in Delhi. Modi sees India as a confident and modern superpower, a voice for the voiceless seizing the 21st century.

Persons: ”, Joe Biden, France’s Emmanuel Macron, Rishi Sunak, Rhea Mogul, Narendra Modi, Harsh Mander, Jayanti Devi, Savita, ” Savita, “, ” Mander, Modi, ” Modi, …, ’, ” Devi Organizations: New, New Delhi CNN, ”, British, CNN, Policy Research, Survey, India, ASI, CNN Homeless, Workers, Indian National Congress, Commonwealth Games, Global, “ Locations: New Delhi, “, Devi, Pragati, Rhea, India, Delhi, Mander, Ukraine, United States

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