Wealth

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

Wealth gap taking toll on state revenue

Many states are in a financial squeeze, according to a report released today by Standard & Poor’s, as income inequality is taking a toll on state governments.

Merdith Baer Home

For most people, staging a house before a sale usually involves a good cleaning, a fresh coat of paint, some new throw pillows and maybe a $10 orchid from Home Depot. But for the super rich, getting a home ready for sale has become a high-priced production. Today’s mansion stagers are dressing up their clients’ homes …

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A Prada store in Beijing.

China created 40,000 new millionaires in 2013, bringing the total to 1.09 million, according to a new study. The growth of 3.8 percent is a bit of an improvement from last year’s 3 percent gain. But it’s still only about half the growth rate of 2010 and 2011, suggesting that China’s economic slowdown and the …

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The widening gap between the wealthy and the rest of America during the recovery can largely be explained in one word: stocks. According to recent data from the Federal Reserve, America has the lowest level of stock ownership in 18 years. Yet stock ownership for the wealthy is at a new high—and that has accounted for …

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Ken Griffin and Anne Dias-Griffin attended the Whitney Museum of American Art's fall gala in New York in 2011.

Prenups are supposed to be the ultimate divorce insurance for the wealthy. Yet like insurance, prenuptial agreements are often challenged when there’s a claim. The increasingly bitter and public divorce battle between hedge fund billionaire Ken Griffin and his wife of 10 years, Anne Dias-Griffin, centers on the couple’s prenup, signed in 2002. In an …

CNBC
Jo-Wilfried Tsonga tries out Babolat’s Play smart racket on the court with CNBC’s Robert Frank.

Technology has radically changed the game of tennis—from the rackets and strings to the data used to analyze opponents. Now, a new “smart racket” may take the tennis tech battle to a whole new level. Babolat recently introduced a $399 racket called Play that has built-in sensors and software to connect it to an Apple iPhone or …