Most Korean billionaires inherited wealth

Lee Kun-hee and Lee Jae-yong of Samsung, Chung Mong-koo of Hyundai Motor, Suh Kyung-bae of AmorePacific and Chey Tae-won of SK are some of Korea’s wealthiest with high stock value. The difference between them and overseas billionaires such as Bill Gates of Microsoft, Jeff Bezos of Amazon, Jack Ma of Alibaba, which also owns the […]

Australian wealth sets record

Australian wealth topped fresh levels in the September 2016 quarter, with most wealth held in property, but a rise in the share market also helped to propel household net wealth higher. However, some analysts are warning households are too highly leveraged and house values could correct over the medium term. As at the end of […]

Inheritance is paramount

Young people’s wealth in the UK depends more on their parents than ever before, according to a new report. The Institute of Fiscal Studies (IFS) claimed that those earning high salaries are more likely to receive a sizable inheritance than those on lower wages. Together with a drop in home ownership and stagnation in wages, […]

Climate change ‘wealth opportunity’

Tackling climate change is the “biggest economic opportunity” in the history of the United States, no matter who holds political office, said Hollywood star and environmental activist Leonardo DiCaprio. “There are a few, very prominent people that still deny the overwhelming conclusions of the world’s scientists that climate change is largely human-caused and needs immediate […]

Bonanza time as Trump takes over

A Trump Administration is going to seriously intensify the creation of private wealth. More people will likely become millionaires while the very rich will become considerably richer, Russ Alan Prince writes in a Forbes piece. This pro-wealth direction will have a multitude of economic and societal implications. Nevertheless, those professionals in the service of the […]

Women’s progress slowing

Women have been rapidly climbing the employment and wage ladders in recent decades. But only a small fraction have made it to the top rungs — and their progress may be slowing, according to a report in the New York Times. New research shows that after making big strides in the 1980s and ’90s, the […]

Property is escalator to wealth

While opponents of homeownership claim it’s “the American nightmare,” self-made millionaire David Bach is doubling down on his faith in real estate. He thinks that not prioritizing homeownership is “the single biggest mistake millennials are making.” Buying a home is “an escalator to wealth,” he tells CNBC. Young adults in particular aren’t hopping on this […]

World’s 200 wealthiest made $237 billion

The world’s 200 wealthiest people made a combined $237 billion (£193.3 billion) this year, according to the Bloomberg Billionaires Index, bringing their total net worth up to $4.4 trillion (£3.4 trillion). Their combined fortunes were up 5.7 per cent at $4.4 trillion (£3.6 trillion) by the close of trading on 27 December. Meanwhile, the world’s […]

Aussies confused over wealth

Ninety per cent of Australians, including those with the highest incomes, do not believe they are wealthy. A survey by National Australia Bank’s wealth unit MLC shows that when it comes to riches, Australians are not sure what it means but they do know they are not wealthy. About a third of those surveyed said […]

Africa’s richest loses 32% of wealth

The Blomberg Billionaires’ Index released on Wednesday has shown that Africa’s richest man, Aliko Dangote lost 32 per cent of his wealth in 2016. According to Bloomberg, Dangote lost $4.9bn due to the failing fuel prices and devaluation of the Nigerian naira in June. Dangote who occupied 42nd position previously, dropped to 112 on the […]

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