Wealth

Robert Frank reports on the nation’s tax gap and how it may help the government collect one trillion dollars more in tax revenue.

Jeff Bezos out $107 billion. Warren Buffett short $77 billion.

That’s how much the net worth of each man would have been cut since the 1980s if Sen. Bernie Sanders’ tax policy had been adopted at the time, according to two University of California economists who study the growing concentration of wealth in the U.S.

The growing wealth gap separating the rich from the rest of the U.S. is an issue that needs to be resolved, J.P. Morgan Chase CEO Jamie Dimon said in a “60 Minutes” interview that aired Sunday night on CBS.

Sen. Elizabeth Warren’s proposed wealth tax may create an incentive for rich couples to divorce to avoid the tax, according to Harvard economist N. Gregory Mankiw.

The rich have cut their spending on everything from homes to jewelry, sparking fears of a trickle-down recession that starts at the top.

The car, a Ferrari 250 GTO, was sold at RM Sotheby’s on Saturday night as part of the Pebble Beach Concours d’Elegance — a kind of Coachella for wealthy collectors that includes five days of auctions, parties, tours and races in northern California.

Two paintings appeared to sell for massive prices, but actually lost or made very little money for Sotheby’s.

When it comes to income inequality, even the top 1 percent of earners in the U.S. stack up unevenly, according to a new report by the Economic Policy Institute. Here’s what you need to make to crack the top 1 percent in your state.

Total giving was up 5 percent in 2017, according to the Giving USA annual report.

Built in 1919, the seven-acre estate was the main home of Jacqueline Bouvier in the 1940s.

Among the records were new auction highs for Monet (a water lilies painting that went for $84.7 million) and Matisse (‘Odalisque Couchee aux Magnolias’ went for $80.7 million).

The art collection of David Rockefeller and his wife Peggy included masterpiece paintings by Pablo Picasso and Claude Monet.

It’s believed to be a record for security costs for any CEO of a large corporation.