The wealthy are spending more on vacations, fine dining and yachts
The consumer base for luxury goods is shrinking—but the ultrawealthy are still spending.
Billionaires
Google cofounder Larry Page overtakes Bezos for world’s third richest
Google cofounder Larry Page overtook Amazon’s Jeff Bezos to become the world’s third-wealthiest person Wednesday, as Alphabet’s stock surged by nearly 6% in the wake of strong third quarter earnings and the release of Google’s Gemini 3 AI model.
Inside the nasty family feud over billionaire’s estate
The son of Taiwan legend Y.C. Wang, Walter Wang is suing his half-siblings and cousins over control of billions in assets he believes were intended for philanthropy.
World’s 5 richest people lose nearly $50 billion combined in broad market sell-off
The five richest people in the world are worth nearly a combined $46 billion less Thursday afternoon due to a market sell-off spurred by dumping of artificial intelligence stocks, mixed fourth quarter results from Disney and general economic uncertainty as the longest government shutdown in American history comes to an end.
The golden rule driving Nick Mowbray’s multibillion-dollar Zuru empire
Nick Mowbray still describes ZURU’s early years in three words: eat, survive, repeat.
All the billionaires at Kris Jenner’s 70th birthday party
The star-studded guest list included celebrities and a group of billionaires worth more than a half-trillion dollars.
The world’s 10 richest people became $40 billion richer as shutdown deal advances
Consumers have expressed growing concerns about the shutdown’s potential impact on the economy in recent weeks.
This billionaire couple has a plan to give away a $20 billion Facebook fortune
Former journalist and wife of Facebook cofounder Dustin Moskovitz, Cari Tuna steered millions into AI safety research ahead of ChatGPT’s launch. Here’s what’s next.
Why Sam Altman won’t be on the hook for OpenAI’s massive spending spree
OpenAI has gone wild with compute deals this year, committing to spend far more than its balance sheet can currently sustain. So who takes the fall if it can’t pay? It won’t be Altman.
Tesla approves Musk’s potential trillion-dollar payday
Tesla shareholders approved a compensation package Thursday for CEO Elon Musk that could be worth close to $1 trillion, a deal proposed by Tesla’s board as crucial to keeping the world’s richest man at the company, though the payment plan was challenged in recent weeks by some of the automaker’s largest shareholders.