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☆ Opinion: The shattering aftermath in Maui
▼ + stars: | 2023-08-13 | by ( Richard Galant | ) edition.cnn.com time to read: +16 min

CNN —The Polynesian demigod Maui was so powerful he could raise islands up from the ocean floor and capture the sun to slow it down. We know Lahaina will be rebuilt, and the government response — city, state and federal — will be a huge part of that. “You can beat the drum of ‘women’s rights’ and defend tooth-and-nail women’s sports, so long as you only do so to denigrate trans women.”For more on the World Cup:Shaista Aziz: This Women’s World Cup has been unlike any other. That’s a great thingAmy Bass: The US loss at the Women’s World Cup sends a clear messageBill Bramhall/Tribune Content AgencyLet’s make a deal? In a country where federal prosecutors overwhelmingly win their cases, Trump’s odds of going to trial and winning both federal cases are slim — and he may face similarly daunting odds in the other cases.

Persons: Bill Weir, Jeff Melichar, ” Clay Jones, Melichar, “, Shaw, Naka Nathaniel, Kaua’i “, ”, ALICE, Lawrence Downes, ” Drew Sheneman, Peter Bergen, Laura Tillman, ” “, David Petraeus, ” Bergen, Tillman, Donald Trump’s, Joe Biden’s, ” Mary Ziegler, ” Ziegler, Roe, Patrick T, Brown, Wade, Kevin McCarthy, Biden, “ Biden, Julian Zelizer, ” Dana Summers, Donald Trump, Podcaster Megyn Kelly, “ I’m, Nicole Hemmer, Megan “ Rapinoe, Kelly, Shaista Aziz, Amy Bass, Bill Bramhall, Will Handelsman, it’s, Trump, William D, Cohan, Puck, David Rubenstein, Scott Galloway, Jill Filipovic, “ Trump, Galloway, pardoning, ” Filipovic, …, Jesus, Kelli Rhee, Rhee, ” Don’t, Drew Sheneman, Agency Brian Elmore, Sen, Elizabeth Warren, Adam Kinzinger, Ukraine Aanchal Saraf, Rebecca H, Oppenheimer’s, Joseph, I’ll, Neil J, Holly Thomas, Sara Stewart, “ Oppenheimer, Christopher, “ Barbie, “ Barbie ”, ” Stewart Organizations: CNN, Coast Guard, Honolulu Civil, ‘, Aloha, New York Times, …, Agency, UN, Republican, GOP, ”, Republicans, Democratic, Federal, FIFA, US, National Soccer Team, New York University, Trump, Arnold Ventures, Ukraine Aanchal, Warner Bros . Locations: Maui, Lahaina, Hawaii, Naka, Hilo, Kaua’i, Afghanistan, Afghanistan’s, Kabul, Ohio, California , Vermont, Michigan, Georgia, Trump, Ukraine

CNN —Jailed Russian opposition leader Alexey Navalny on Friday took aim at Russia’s “corrupt” elite that placed President Vladimir Putin in power. “I hate Yeltsin, […] Chubais and the rest of the corrupt family who put Putin in power,” he said, referring to former Russian President Boris Yeltsin and former high-level Russian official Anatoly Chubais. “Is there any other country where so many ministers of (a) government of reforms became millionaires and billionaires? But he said “Russia will still have a chance” to turn things around into the democratic direction. Moscow has denied involvement in the poisoning, with Putin himself saying in December 2020 that if Russian security services had wanted to kill Navalny, they “would have finished” the job.

Persons: CNN —, Alexey Navalny, Vladimir Putin, ”, – Navalny, ” Navalny, “, Yeltsin, Putin, Boris Yeltsin, Anatoly Chubais, Navalny, didn’t, Russia “, Novichok Organizations: CNN, Soviet Union Locations: Moscow, Soviet, Russia, “ Russia, ”, Germany

☆ Billy Porter says Hollywood strikes forcing him to sell his home
▼ + stars: | 2023-08-09 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Stars aren’t exempt from the hardships of the Hollywood strikes and Billy Porter is speaking out about it. In an interview with the Evening Standard the “Pose” star said he is having to sell his home because of the ongoing actors’ and writers’ strikes. None of that is happening.”The strikes have come as actors and writers seek several things, including better pay and working conditions and protection from artificial intelligence. It hurts my feelings.”Writers have been on strike since May and actors went out on strike in July. CNN has reached out to reps for Porter for additional comment.

Persons: Billy Porter, ’, we’re, ”, “, Porter, “ We’re, “ You’ve, ” Porter, he’s Organizations: CNN, Hollywood, Evening, ” Locations: London

☆ The N.B.A. Player Who Might See His Mom at Union Meetings
▼ + stars: | 2023-08-06 | by ( Tania Ganguli | More About Tania Ganguli | ) www.nytimes.com time to read: +1 min

The National Basketball Players Association is the union for N.B.A. But Terri Jackson is no ordinary N.B.A. players’ union, and, in February, she was invited to the N.B.A. players’ union’s winter meeting. When he finished, Terri Jackson said, she wanted to get up and cheer; she was so happy to see the maturity he showed.

Persons: Terri Jackson, Jaren Jackson Jr Organizations: Basketball Players, N.B.A, Memphis Grizzlies

☆ Progressive Democrats are proposing a new tax they say will help 'close the exorbitant wealth gap'
▼ + stars: | 2023-08-03 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

The richest 0.1% of US households held 20% of the wealth, says the Patriotic Millionaires group. It's helped several Democrats Representatives devise legislation for a new wealth tax. The Bill aims to close the "exorbitant" US wealth gap but has little chance of passing the House. The legislation has four brackets:2% for all wealth between 1,000 and 10,000 times median household wealth4% for all wealth between 10,000 and 100,000 times median household wealth6% for all wealth between 100,000 and 1,000,000 times median household wealth8% for all wealth over 1,000,000 times median household wealthThe median American household wealth is just over $120,000, according to the Patriotic Millionaires. The Patriotic Millionaires have long campaigned for fairer income redistribution, and say the net worth of America's 735 billionaires is now $4.7 trillion.

Persons: It's, Bill, Barbara Lee of, Jamaal Bowman, Lee, Morris Pearl Organizations: Patriotic Millionaires, Service, New, BlackRock, Republican, Internal Revenue Service Locations: Wall, Silicon, Barbara Lee of California, New York, United States, America

☆ New IRS paperless system will help reduce deficit significantly over 10 years, Yellen says
▼ + stars: | 2023-08-02 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — Treasury Secretary Janet Yellen praised a new initiative by the IRS that she said will help reduce the federal deficit by $2.6 trillion over the next 10 years — an extension of the Biden administration's pledged $1 trillion in deficit reduction from the Inflation Reduction Act. The initiative is a "key" to unlocking other system improvements, said Yellen, including error reductions in tax processing and secure data access for taxpayers. "I urge Congress to provide stable and sufficient annual appropriations for the IRS in order to sustain and build on this progress," Yellen said. The agency has already recovered roughly $38 million from about 175 delinquent tax cases for millionaires, said Yellen. CORRECTION: This story has been updated to say that the IRS paperless system will help with the Biden administration's effort to cut into the federal deficit by $2.6 trillion over the next 10 years.

Persons: Janet Yellen, Johns, Biden administration's, Yellen, Biden Organizations: Johns Hopkins University’s School, International, WASHINGTON —, IRS, Biden Locations: Washington , DC

☆ The 'richcession' isn't happening. The ultra-wealthy have never been richer and they're still spending like crazy.
▼ + stars: | 2023-07-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Experts say the richest are actually even richer and spending more than they were before the pandemic. Most Americans now have "spent up" demand for goods, but still have pent up demand for services, Zandi says. In her experience, luxury spending is highly correlated with the stock market, and investors have enjoyed handsome returns so far this year as the S&P 500 rebounds from its 2022 lows. The luxury services sector was a particular hot spot. "If this is a richcession, the rich are probably saying, bring it on," Zandi said.

Persons: they've, Mark Zandi, Zandi, they're, Rather, pricey Taylor Swift, Taylor Swift, Patek Philippe, Claudia D'Arpizio, D'Arpizio, Scott Dunn, Bridget Lackie, Lackie, Jennifer Stillman, Douglas Elliman, we've, Stillman Organizations: Service, Wall Street, Rolex, Bain & Company Locations: YOLO, Wall, Silicon, New York

Author Rachel Rodgers says that being in debt is not an automatic sign of being bad with money. As someone who has tackled debt myself, a home mortgage, student loan, or business debt is typically considered good debt because it's viewed as an investment that grow over time. Try the debt snowball methodIf you are paying more than the minimum payment, you can try the debt snowball method for debt elimination. By "snowballing" payments toward your smallest debt, you'll eliminate it quickly and move on to the next-smallest debt while paying the minimum on the rest. Rinse and repeat with the next smallest debt on the list.

Persons: Rachel Rodgers, Rodgers, it's Organizations: Service Locations: Wall, Silicon

☆ Check out a ghost town of deserted Chinese mansions
▼ + stars: | 2023-07-27 | by ( Lilian Manansala | ) www.businessinsider.com time to read: 1 min

Farmers are growing crops and raising cattle in a "ghost town" built for millionaires. Developers broke ground on the project in 2010 but left 260 European-style homes unfinished, turning the luxury project into an eerie wasteland.

Organizations: Developers

☆ The author of 'We Should All be Millionaires' asked women earning 6 figures if they were confident with their money — and 90% said no
▼ + stars: | 2023-07-24 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +5 min

Rachel Rodgers, author of "We Should All be Millionaires" says women are constantly told that they are not good with money. She completed a survey that concluded with 90% of high-earning, successful women saying they do not feel confident making decisions about money. But when she asked if they felt confident in making money decisions, she was shocked to learn that 90% of those surveyed said no. Rodgers found that even smart, accomplished women earning six figures they had still internalized what society told them about women and money. In her book, "We Should All Be Millionaires," Rodgers found that men and women receive totally different messages about money through media and society in general.

Persons: Rachel Rodgers, Rodgers Organizations: Service, AARP Locations: Wall, Silicon

☆ Taxpayers don’t have to worry about unannounced visits from the IRS anymore
▼ + stars: | 2023-07-24 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

These visits will only continue in a few special circumstances, the agency said Monday. “Changing this long-standing procedure will increase confidence in our tax administration work and improve overall safety for taxpayers and IRS employees,” Danny Werfel, IRS commissioner, said in a statement. “These visits created extra anxiety for taxpayers already wary of potential scam artists,” Werfel said. “At the same time, the uncertainty around what IRS employees faced when visiting these homes created stress for them as well.”Typically, tens of thousands of unannounced visits take place each year. It will continue to focus on high-income taxpayers with tax issues, the agency said.

Persons: ” Tony Reardon, Biden, ” Danny Werfel, ” Werfel, “, ” Organizations: CNN, IRS, National Treasury Employees Union

She pays each of her four children up to $500 a month to do small tasks around her office. She deposits half their paycheck into a custodial Roth IRA, where the money could grow to millions. Diop's financial planner helped her move out of her mom's house and set her children up to become millionaires by age 30 using two simple steps. She uses a custodial Roth IRA, an investment account where kids can invest their earned income for retirement. She opened a kid's debit card with Green Light, a company that creates bank accounts for children and teens.

Persons: Ellie Diop, Ellie, Diop, it's, Elsa Organizations: Service Locations: Wall, Silicon, Los Angeles

☆ Psychologist: The No. 1 soft skill highly successful people use at work—‘It’s like having a superpower’
▼ + stars: | 2023-07-23 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

Millionaires and CEOs alike tout the importance of being productive, organized and grinding 24/7 to build a successful career. While this might be true, there's a different skill that gives successful people a competitive edge in the workplace — being a good listener, says Sarah Sarkis, a psychologist and Exos' senior director of performance psychology. "Few people know how to be fully present in a conversation and respond thoughtfully to what another person is saying," Sarkis adds. But sometimes this very style of listening is why your conversations, your negotiations and your conflicts go sideways." Here, the performance psychologist offers three strategies for becoming a better listener at work:

Persons: Sarah Sarkis, Exos, Sarkis Organizations: NFL, Fortune, Intel, Humana Locations: Exos

It starts with knowing your money: track your net worth and credit score, and check your finances daily. Your net worth goes beyond your budget, and by tracking it you will start to see how your decisions affect your bottom line. Know your credit scoreYour credit score is important. A good credit score gives you more options for everything from credit cards and personal loans to apartment rentals to insurance. The more money you have along with good money management skills, the more options and possibilities there are for you and your life.

Persons: Rachel Rodgers, —, Rodgers, Here's Organizations: Service, Money Locations: Wall, Silicon

☆ Powerball jackpot: A ticket sold in California has won the $1.08 billion grand prize
▼ + stars: | 2023-07-20 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +2 min

CNN —A ticket sold in California has won the $1.08 billion Powerball jackpot in Wednesday night’s drawing – among the largest in the game’s history, according to Powerball’s website. The ticket was sold at Las Palmitas Mini Market in downtown Los Angeles, according to the California Lottery. Wednesday’s prize ranks as the seventh largest US lottery jackpot and third largest Powerball jackpot, behind the world record $2.04 billion Powerball jackpot won last year in California, and the $1.586 billion Powerball jackpot won in 2016, according to the lottery. Though a single ticket won the jackpot, players are being advised to check their tickets on the chance they won one of the other prizes. “Congratulations to our newest Powerball jackpot winner and the California Lottery!” said Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Executive Director.

Persons: Wednesday’s, ”, Drew Svitko, –, California –, didn’t Organizations: CNN, Las, California Lottery, Pennsylvania, Powerball, ” Locations: California, Los Angeles, Ohio

☆ Alexis Ohanian says you'll never achieve a perfect work-life balance. He's right.
▼ + stars: | 2023-07-19 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +3 min

Alexis Ohanian recently told Entrepreneur he doesn't think anyone can accomplish work-life balance. Ohanian's point is that sometimes, work needs to be the priority — and other times, life needs to be. Alexis Ohanian (left), Olympia Ohanian (center), and Serena Williams. Ringo Chiu/Reuters"There are times in your life where you will need to focus on the career, the work," Ohanian said. So it's refreshing to hear Ohanian explicitly lay out that while routines and consistency are important, flexibility is also essential.

Persons: Alexis Ohanian, It's, Ohanian, You'll, Serena Williams, Ringo Chiu, We've Organizations: Service Locations: Wall, Silicon

☆ Sen. Ed Markey announces bill to raise taxes on private jets and their ultra-wealthy passengers
▼ + stars: | 2023-07-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Sen. Ed Markey on Wednesday announced legislation to raise taxes on jet fuel used by private planes. Private jet travel, which is the most polluting form of transport, has surged in recent years. The bill — called the Fueling Alternative Transportation with a Carbon Aviation Tax (FATCAT) Act — would raise federal taxes on private jet fuel from $0.22 to $1.95 per gallon. Private jet travel has surged in recent years. The surge in private jet travel raises serious environmental concerns.

Persons: Sen, Ed Markey, —, Markey, Chuck Collins Organizations: Wednesday, Massachusetts Democrat, Private, Service, Carbon Aviation, Institute for Policy Studies, Patriotic Millionaires, Federal Aviation, Senate Commerce, Science, Transportation, Communities Trust Fund, Treasury, NGO Transport, Environment Locations: Massachusetts

☆ How Much Do You Know About Famous Entrepreneurs? Test Your Knowledge
▼ + stars: | 2023-07-14 | by ( Daniel Akst | ) www.wsj.com time to read: 1 min

Sarah Breedlove (driving), better known as Madam C.J. Walker, was one of the first female Black millionaires in the U.S. Photo: Smith Collection/Gado/Getty ImagesEntrepreneurs mostly set out to make money, but whatever their intentions, some end up changing the world. They usher in the future by bringing us new goods, services and ideas, inevitably sweeping away some aspect of what has come before.

Persons: Sarah Breedlove, Madam C.J, Walker Organizations: Getty Locations: U.S

Now it is at the epicentre of a property crash that threatens to engulf the Nordic state's economy. It has said it plans on selling roughly 6 billion Swedish crowns worth of assets this year. Speculators are betting that the stock price has further to fall. SBB shares are subject to more short-selling - a bet that the stock price will drop - than any other Swedish company, according to data from the financial regulator. "If, on the other hand, the SBB will be bought up, then the small shareholders will probably lose everything."

Persons: Maria De Geer, who've, Ilija Batljan, Batljan, Robert Bergqvist, SEB, Leiv Synnes, pare, De Geer, Pablo Mayo, Elaine Hardcastle Organizations: SBB, Swedish Shareholders Association, Organisation for Economic Cooperation, Development, Asset Management, SBB Treasury Oyj, Reuters, Thomson Locations: STOCKHOLM, FRANKFURT, Sweden, Swedish, Cerqueiro, London

☆ Scottsdale, Arizona is the No. 1 city for renters based on quality of life—see the full list
▼ + stars: | 2023-07-12 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

WalletHub compared key quality-of-life measures in more than 180 rental markets across the United States. To rank the best states for renters based on quality of life, the report considered the following factors:Whether you're buying a home or renting, one major factor to consider in your search for the right state, city or neighborhood you move to is the quality of life you will have when you get there. Scottsdale, Arizona, topped the list of the best places for renters based on quality of life. Over the past two decades, it has been one of the fastest-growing cities in the U.S. and according to Henley and Partner's 2023 wealth report, it is also one of the fastest-growing cities for millionaires. From 2012 to 2022, Scottsdale saw an 88% millionaire growth rate and is home to 13,900 millionaires, 60 centi-millionaires, and five billionaires.

Locations: United States, Scottsdale , Arizona, McDowell, U.S, Henley, Scottsdale

☆ This millionaire is selling his private jet -- out of concern for the environment
▼ + stars: | 2023-07-11 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +7 min

Amid these concerns, one private jet owner has decided to scale back. In line with Prince’s thoughts, the Institute for Policy Studies report advocates for higher taxes on both private jet sales and fuel. They also call for the federal jet fuel tax to be doubled from $0.219 per gallon to $0.438 per gallon for the most frequent private jet users. We should have very high taxes, [usage] taxes and fuel taxes that discourage private jet owners.”Collins adds that the construction of private aviation infrastructure should stop altogether, as this form of transportation should be phased out. In April, Schiphol airport in Amsterdam announced it is considering banning private jets from its grounds altogether.

Persons: What’s, Stephen Prince, “ I’ve, It’s, I’m, ”, Joan Valls, Shutterstock There’s, he’s, who’s, “, it’s, ” Prince, we’re, George Rose, Elon, ” Chuck Collins, ” Collins, That’s, Collins Organizations: CNN, US Institute for Policy Studies, Federal Aviation Administration, Patriotic, Cessna, Prince, TSA, Institute for Policy Studies, “ Locations: Nebraska, Boston, Europe, France, Ireland, Schiphol, Amsterdam

☆ I spent 5 years interviewing 233 millionaires—here are 5 things they never waste money on
▼ + stars: | 2023-07-04 | by ( Tom Corley | ) www.cnbc.com time to read: +2 min

I spent five years studying 233 millionaires to learn about their habits and the way they think. But almost everyone told me that what contributed more to their wealth was that they stopped wasting money on certain things:1. Cheaply made productsThey refused to drop money on the latest fashion trends, or inexpensive and poorly constructed furniture. Outdoor tools and equipmentWhile some still enjoyed doing outdoor work, like mowing their lawn, weeding, landscaping and trimming, the vast majority — once they got wealthy — hired landscapers to take care of all outdoor upkeep. This meant they no longer spent money repairing or replacing old equipment.

Persons: —, landscapers

☆ Focus: UBS goes on hiring spree for wealth managers catering to rich Americans
▼ + stars: | 2023-07-03 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +4 min

Of those, 30 came after the Credit Suisse deal was announced in March. With the Credit Suisse deal, UBS became the world's second-largest wealth manager. “The U.S. is the largest wealth market globally, and in recent years there has been unprecedented growth," Iqbal Khan, UBS' president of global wealth management, told Reuters. Reuters GraphicsUBS' ranks of financial advisers in the U.S. have swelled by more than 25% in the last three years. “Over the next 20 years, we'll see the greatest transfer of wealth in history," said Khan, who joined UBS from Credit Suisse in 2019.

Persons: Bank of America's Merrill Lynch, Iqbal Khan, ”, Khan, Wells, John Mathews, We’ve, Johann Scholtz, we'll, Tatiana Bautzer, Paritosh Bansal, Lananh Nguyen Organizations: YORK, UBS, Credit Suisse, Bank of America's, JPMorgan Chase's, First Republic Bank, Citigroup, BG Group, Merrill, Reuters, Reuters Graphics UBS, Wealth, Thomson Locations: Wells Fargo, Europe, Asia, U.S, California, Americas, New York

☆ DeSantis Financial Disclosure Puts Him in the Millionaires Club
▼ + stars: | 2023-06-30 | by ( Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

Ron DeSantis of Florida, who often speaks of his blue-collar roots, is now a millionaire, thanks to a $1.25 million book deal that he signed with HarperCollins in anticipation of his run for president. Mr. DeSantis saw his net worth skyrocket to $1.17 million by the end of 2022, up from roughly $319,000 in 2021, according to a financial disclosure filed on Friday with the Florida Commission on Ethics. Before declaring that he would run for president, Mr. DeSantis took a series of trips around the country to meet local Republicans and promote his book. 1 book in America for nonfiction,” a smiling Mr. DeSantis said at one such stop in Iowa this spring. At the end of that year, he reported his net worth at around $284,000.

Persons: Ron DeSantis, DeSantis, “, ”, Mr Organizations: HarperCollins, New York Times Locations: Florida, America, Iowa

Some billionaires rocketed into space as Branson and Amazon founder Jeff Bezos have. Other rich travelers journeyed on a submersible to explore the wreckage of the ocean liner Titanic. For $250,000 to $300,000 a trip, Kent sometimes fields unusual requests including helping a Saudi prince fulfill his dream of flying a plane onto and off of an aircraft carrier. The experience was so demanding that Ackman's father expressed concern about the intended trip, not for his son but for another fund manager who had signed up to go. One person familiar with that excursion said it probably wouldn't happen again, in part because it was such a potentially risky undertaking.

Persons: Eric Gaillard, Richard Branson, Branson, Jeff Bezos, ”, Alexandre Cymbalista, Geoffrey Kent, Kent, Goldman Sachs, Monica Heslington, Goldman, Melissa Biggs Bradley, Massimo Bottura, Bill Ackman, Whitney Tilson, Tilson, Ackman, Svea Herbst, Bayliss, Tatiana Bautzer, Julia Harte, Nupur Anand, Paritosh Bansal, Anna Driver Organizations: REUTERS, Twitter, Virgin Galactic, Virgin Group, Amazon, Wall Street, Abercrombie, Kent, Credit Suisse, SPECIAL, Goldman, Art Basel, Rubell Museum, Bank of America, Indagare, Ferrari, Navy, Svea, Thomson Locations: Nice, France, New York City, Branson, safaris, Botswana, Kent, Saudi, Africa, Miami, Art Basel, Modena, Italian, Mongolia, California

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