Wealth

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Banners hang outside Memorial Church on the Harvard University campus in Cambridge, Massachusetts.

The wealth gap is widening among America’s colleges and universities. (Tweet this) The improved economy and rising stock market have helped repair the damage to university endowments, but the biggest investment gains and largest gifts have flowed to the wealthiest schools, according to a recent analysis by Moody’s Investors Service. Got a question about business or …

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The top-earning 1 percent of Americans will pay nearly half of the federal income taxes for 2014, the largest share in at least three years, according to a study. According to a projection from the non-partisan Tax Policy Center, the top 1 percent of Americans will pay 45.7 percent of the individual income taxes in …

Dimas Ardian | Bloomberg | Getty Images

What’s the secret to making money like the rich? Capital gains. A study from the non-partisan Tax Policy Center looked at the sources of income for American taxpayers of different income levels. It found that the higher you go up the income ladder, the greater share of income comes from capital gains. For the 99 …

Emile Wamsteker | AP
Picasso's Women of Algiers Version 'O' is up for auction at Christie's.

The big spring auctions are still more than six weeks away, but there are already signals that they could continue to fuel the art market’s dizzying climb. Among the new records that could be set is that of the most expensive painting ever sold at auction. Christie’s said Wednesday that Pablo Picasso’s 1950s masterpiece “Les …

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The number of Americans worth $30 million or more grew by 6 percent last year, with the Dakotas and Florida seeing the fastest growth, according to a new report. There are now 69,560 individuals in the U.S. worth $30 million or more—a group also known as ultra-high net worth individuals (UHNWI)—according to wealth research firm …

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Hedge fund billionaire Paul Tudor Jones said the growing gap between the rich and the rest could be “disastrous,” and that the drive for corporate profits has “ripped the humanity” from American companies. Speaking at a sold-out TED Talk in Canada this week, the co-chairman of Tudor Investment and a man Forbes says is worth …

Pat Sullivan | AP
In this Aug. 15, 2014 file photo, real estate heir Robert Durst leaves a Houston courtroom.

He’s been called a “real estate baron,” a “rich scion” and even a “billionaire.” Yet Robert Durst, the real estate heir who was arrested in New Orleans on murder charges, may be none of those things. While Durst is indeed wealthy, which no doubt has helped turn an old unsolved murder into a new media …

Melpomenem | Getty Images

Climbing stock markets and rising real estate values helped create nearly 500,000 new millionaires in the U.S. in 2014, according to a new report. The study, from market research and consulting firm Spectrem Group, found that there are now 10.1 million households in the U.S. with $1 million or more in investable assets, excluding the …

Mike Segar | Reuters
One57, a new luxury skyscraper apartment building on New York City's West 57th street.

Talk about a steal: The total property tax bill for a $100 million Manhattan penthouse apartment came to $17,268—a rate of just 0.017 percent— thanks to a controversial valuation loophole. The calculation, made by The New York Post using data from Revaluate.com, highlights the unusual methods the city employs when calculating real estate values for …

Source: Bonhams
Ferrari 250 GTO Berlinetta.

Among the cultured elite, art has been the most widely watched and talked about collectible in recent years. But it’s the good old automobile that has been a better investment. According to the Knight Frank Wealth Report, classic cars were the top performing collectible investment in 2014, posting gains of 16 percent. That narrowly beat …

Janne Nousiainen | AFP | Getty Images
A file photo of a police action in Finland.

The next time you get a speeding ticket, be grateful you don’t live in Finland—and that you don’t make $7 million a year. Like many Nordic countries, Finland bases its speeding tickets only partly on the actual speed violation. Most of the fine is determined by the violator’s income. So when businessman Reima Kuisla got …

Mark Ralston | AFP | Getty Images
Chinese property tycoon Tian Ming shows one of his new New York developments at the Biltmore Hotel in Los Angeles.

Money moves around the world faster than ever. And millionaires, it turns out, are becoming just as global. According to a new study from global real estate consultant Knight Frank with Fragomen, the immigration specialist for the wealthy, more millionaires than ever are looking for homes in other countries. Their overseas interests range from pied-a-terres …

Silvain Sonnet | Getty Images
Monaco Harbor on the French Riviera.

A million dollars isn’t what it used to be, especially in the world’s luxury real estate markets. According to a new survey from Knight-Frank, $1 million buys you only 17 square meters, or 183 square feet, in Monaco, the world’s most expensive real estate market as measured by average cost per square foot. Hong Kong …

Alexander Zemlianichenko | Reuters
Yuri Kovalchuk

A record 1,825 billionaires made the Forbes World’s Billionaires list. But more than 100 fell off the list—with the largest number from Russia. According to Forbes, 138 people lost their billionaire status in 2014. There were losers in the oil sector, with the decline in oil prices. There were losers from the slowdown in emerging …

Boat sales are back

As the economy improves, people are making discretionary purchases, giving the boat industry a lift.