Wealth

Michael S. Williamson | The Washington Post | Getty Images
Continental Resources CEO Harold Hamm pauses as he looks out a window during an interview in his Oklahoma City offices

Jack Ma is now $2 billion poorer than he was last month. He’s down to his last $23 billion. Rich company founders and shareholders benefited from the market’s rally to record highs in September, but its free fall this week has shaved billions from their fortunes, showing just how exposed today’s rich have become to …

iStock / 360 | Getty Images

The world’s millionaire population will leapfrog to 53 million from 35 million over the next five years, supported by an explosion of wealth in emerging markets, according to Credit Suisse. China will be a large driving force in the growth of global wealth, alongside Indonesia, India, Mexico and Brazil, the bank said. The number of …

Dave & Les Jacobs | Getty Images

A new dating app called Luxy matches wealthy singles…to wealthy singles. It describes itself as “Tinder, minus the poor people.” The app’s iTunes page claims members are CEOs, investors, millionaires, and fitness models. So far, there are 3,000 users, and the average male user’s income is $200,000, company spokesman Darren Shuster told Vice. Shuster also told CNN that Luxy’s rich …

Barry Winiker | Getty Images
The Waldorf Astoria hotel in New York.

The hotel famously called “the greatest of them all” is now the most expensive of them all. Hilton Worldwide Holdings said it’s selling the famed Waldorf Astoria hotel in New York for $1.95 billion to China-based buyer Anbang Insurance Group. The price makes the Waldorf the most expensive single hotel ever sold in the U.S., according …

Fotosearch | Getty Images

New York and California may be the richest states, but when it comes to charity, they’re not even among the top 25. An analysis from The Chronicle of Philanthropy, which uses data on tax returns, found that Utah was the most charitable state in 2012, as measured by giving as a percentage of adjusted gross income. …

Getty Images
A trader works on the floor of the New York Stock Exchange.

The Dow is up less than 3 percent for the year. Treasurys are yielding next to nothing. And the stock markets in many countries overseas have tanked. So why are wealthy investors expecting double-digit returns this year? Are they crazy? Or are they all great investors? Turns out, they could be a little bit of …

WIN-Initiative | Getty Images

Forget sports cars, diamonds and yachts. Today’s rich prefer to spend their money on vacations, entertainment and collectibles. According to a new study from Spectrem Group, Americans worth more than $25 million think of themselves as frugal but actually live large. More than half agreed with the statement that “saving and investing my money gives …

Robynmac | Getty Images

At some point, we’ve all fantasized about winning the lottery and living the high life, replete with mansions, sports cars, yachts and exotic travel. But the reality of hitting the jackpot isn’t some glamorous Kardashian-style existence. Instead of finding themselves in the lap of luxury, 70 percent of people who come into sudden money are …

Joe Sohm | Photodisc | Getty Images

Call it the housing bubble 2.0. While real estate in much of the country is hitting a slow patch, luxury home sales in Silicon Valley are soaring nearly as fast as Facebook stock. Sales of homes in San Jose, California, priced at $1 million or more jumped 76 percent in 12 months ended in July, according to …

Jon Boyes | Photographer's Choice RF | Getty Images

The gap between executives’ salaries and the wages of their average employees is seen as growing around the world, as workers believe CEOs care more about getting wealthier than about income inequality. Conducted on over 25,000 people across 25 countries, CNBC’s and Burson-Marsteller exclusive survey on the Global Corporate Compass found that 76 percent of …

Elsa | Getty Images
Dr. Dre

Apple’s $3-billion acquisition of Beats earlier this year helped co-founder Dr. Dre jump to the top of Forbes’ Hip-Hop Cash Kings list – but a hefty tax bill means he’s not a billionaire just yet. Prior to the acquisition, a famous – and now deleted – video featured singer-songwriter Tyrese Gibson describe Dr. Dre – whose …

Sean Gallup | Getty Images

London has trumped Hong Kong as the world’s most expensive city, according to a report from international estate agent Savills. For the first time since the Savills “Live/work index” was launched in 2008, London has outdone Hong Kong as the priciest city for companies to locate staff. Londoners have been hit by resurging property prices—unlike …

Abrams | Lacagnina | Getty Images

Billionaires are holding mountains of cash, offering the latest sign that the ultra-wealthy are nervous about putting more money into today’s markets. According to the new Billionaire Census from Wealth-X and UBS, the world’s billionaires are holding an average of $600 million in cash each—greater than the gross domestic product of Dominica. That marks a jump of …

Brent Lewin | Bloomberg | Getty Images
Alibaba Group's founder and executive chairman, Jack Ma, waves as he arrives for a meeting at the Ritz-Carlton hotel in Hong Kong.

Alibaba‘s initial public offering will unleash a flood of wealth for founder Jack Ma and his partner Joseph Tsai. But unlike some other recent tech IPOs, the big money isn’t being spread around the company. According to regulatory filings, Ma’s 206.1 million shares could be worth between $13.6 billion and $14 billion at an estimated share price …

Photographer | Collection | Getty Images

The world economy is going through a rough patch, yet the world’s billionaire population is at an all-time high. A new survey shows that 155 new billionaires were minted this year, pushing the total population to a record 2,325 – a 7 percent increase from 2013. Credit goes to the United States – home to the most billionaires globally – where …