All articles tagged with #ultra wealthy
Originally Published 3 months ago — by CNBC
The ultra-wealthy population is growing, with millennials and Gen Z expected to comprise over a third of this group by 2040, driven by wealth transfer and changing industry focuses, signaling significant shifts for businesses serving the ultra-rich.
Originally Published 1 year ago — by CNN
Millennials are set to inherit $90 trillion over the next two decades, potentially making them the richest generation in history, but this wealth transfer is likely to deepen wealth inequality as it primarily benefits those from affluent families. The shift in wealth will bring significant changes in how it is utilized, with younger generations showing less interest in traditional wealth-building methods like property ownership. The number of ultra-wealthy individuals globally has increased, with North America leading the growth, and the interest in property investment remains strong among this group.
Originally Published 2 years ago — by The Guardian
A report from Oxfam reveals that the carbon footprint of the world's wealthiest 0.1% is 77 times higher than the level needed to limit global warming to 1.5C. The report highlights the extravagant transport habits of the ultra-wealthy, including superyachts, private jets, and space flights, which contribute significantly to their high carbon emissions.
Originally Published 2 years ago — by CNN
The ultra-wealthy have been accused of infiltrating the anti-capitalist Burning Man festival in Nevada, raising concerns about the event's original ethos. Critics argue that the presence of luxury camps and exclusive experiences contradicts the festival's principles of radical self-expression and communal living. Some attendees have expressed frustration at the growing disparity between the wealthy and the rest of the participants, leading to calls for greater transparency and a reevaluation of the event's values.
Originally Published 2 years ago — by CNBC
Gloria Richards, an off-Broadway actress, spends half of each year nannying for the ultra-wealthy, earning up to $167 per hour, plus covered flights and accommodations. Nannying for the ultra-wealthy isn't always about childcare: Richards spends most of her working hours coordinating children's educational and social calendars. She gets paid up to $2,000 per day for 12 to 15 hours of work, she says. The glamour comes with an emotional tax: Richards often acts as a companion for neurodivergent children with absent and complicated parents, she says. And as a Black woman helping raise wealthy white kids, she has to navigate cultural situations tactfully — or risk losing her paycheck.