wealthy

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Thailand Resurrects 8-Year-Old Case Against Red Bull Heir

Thai PM orders investigation into fatal 2012 hit-and-run involving Vorayuth 'Boss' Yoovidhya

(Newser) - Thailand's prime minister responded Wednesday to growing public furor by ordering a probe into the dropping of criminal charges against a Thai heir to the Red Bull energy drink fortune, accused of killing a policeman in a hit-and-run accident eight years ago. The case involving Vorayuth Yoovidhya, whose family...

Jeff Bezos' Wallet Just Had a Record-Setting Day

Amazon founder added $13B to his net worth on Monday

(Newser) - How do you treat yourself when you make $13 billion in one day? We'll have to ask Jeff Bezos, who, per Bloomberg , saw that amount added to his net worth Monday, the largest single-day boost to one person's wealth since the Bloomberg Billionaires Index began in 2012. A...

2018&#39;s &#39;Maddening&#39; Tax Rates Unveiled
2018's 'Maddening'
Tax Rates Unveiled
NEW STUDY
Oct 9, 2019 8:18 AM CDT

2018's 'Maddening' Tax Rates Unveiled

400 richest US households paid lower rate than bottom 50%: economists

(Newser) - America's richest billionaires paid a lower average tax rate than the working class for the first time in US history in 2018, according to a new study. The book-length research, The Triumph of Injustice , comes from Emmanuel Saez and Gabriel Zucman, the same economists who inspired Elizabeth Warren's...

Meet the World's Richest Female Musician and Her $600M

That would be Rihanna, per 'Forbes'

(Newser) - The world's richest female musician has a net worth of $600 million—and it's mainly not from her music. Forbes has bestowed the honor upon Rihanna, noting that the bulk of her fortune (about $570 million of it) comes from the Fenty Beauty cosmetics line she co-owns with...

For First Time in 24 Years, a New No. 1 on Forbes 400

Jeff Bezos unseats Bill Gates

(Newser) - Jeff Bezos recently became the richest person in modern history , and on Wednesday came another milestone for the Amazon founder: For the first time since 1994, Bill Gates has been unseated at the top of the Forbes 400. Bezos is the first new No. 1 in 24 years, with a...

NYC No Longer Has the Most Super-Rich People

That honor transfers to Hong Kong

(Newser) - Looking to hobnob with the rich but not necessarily famous? Although New York City used to be where you'd be find the largest population of super-rich people in the world, Hong Kong has taken over the top spot this year, CNNMoney notes. That's per a new report from...

'Gambling Mecca' Is About to Become Richest Place on Earth

Macau is set to surpass Qatar, per a new IMF ranking

(Newser) - A "gambling mecca" is set to oust Qatar as the richest place on Earth, per the International Monetary Fund's newest stats. Bloomberg reports that the IMF's World Economic Outlook database has pegged Macau as the planet's wealthiest place, with its economy on track to reach the...

Seattle Approves Rich-Only Income Tax

GOP leader calls for 'forceful resistance'

(Newser) - Supporters waved "Tax the Rich" signs Monday as Seattle's city council voted unanimously to do exactly that. By a vote of 9-0, the council approved an income tax that only applies to wealthy residents, with the 2.25% tax starting at income above $250,000 for individuals and...

Stop Carping About the 1%, Open Your Eyes to the 20%

The upper middle class is where the real problem is, writes columnist

(Newser) - For all the talk in the US about rising income inequality and the fatcats who make up the 1%, America seems blind to a more prevalent disparity: the upper middle class and all those below them. British transplant Richard Reeves writes in the New York Times that he was surprised...

This Is the World's Most Expensive Bed

The Vividus out of Sweden will set you back $150K

(Newser) - Back in 2006, one of the world's most reputable bed makers, Hästens out of Sweden, launched the Vividus, a bed that took 160 hours to build and came with an astonishing price tag of $112,900. Created to improve on the company's already exceptional mattresses, some of...

Trump Stacking His Team With Billionaires, Millionaires

His administration could be richest ever—worth up to $35B

(Newser) - Donald Trump ran on a "drain the swamp" platform in which he positioned himself as a man of the people. Which is why eyebrows are being raised at him tapping ex-Goldman Sachs bigwig Steve Mnuchin for Treasury secretary , billionaire investor Wilbur Ross for commerce secretary , and a handful of...

10 Wealthiest US Counties
 10 Wealthiest 
 US Counties 
Aug 2, 2016 11:47 AM CDT

10 Wealthiest US Counties

Enjoy the spoils, Virginia

(Newser) - It pays to reside in the DC area if you're a) into the political scene or b) looking for bragging rights to living in one of the wealthiest counties in the nation. The Code Black Group checked out median household incomes across the country and found Virginia and Maryland...

Forbes Says This Young Billionaire Now Worth Nothing

Magazine says Theranos founder Elizabeth Holmes' net worth is gone

(Newser) - The golden child of the biotech world has lost her luster—and her entire fortune. "Last year, Elizabeth Holmes topped the Forbes list of America's Richest Self-Made Women ," Forbes pointed out Wednesday, noting it had rejiggered the $4.5 billion attributed to her last year: "Today,...

Here's How Much It Takes to Be 'Wealthy' in Bay Area

Hint: It's a lot

(Newser) - Residents of the Bay Area in California think it takes more than twice as much money to be considered wealthy there than in the rest of the country, the San Francisco Chronicle reports. A survey of 1,000 residents by Charles Schwab found you need to be worth more than...

America's Poor Live Longer in 'Unexpected' Places

Stanford researchers analyze over 1B records

(Newser) - A new study says America's wealthy live longer than its poor, which is hardly surprising. But it also says low-income people live longer in certain places—like affluent cities including New York and San Francisco, NPR reports. Why isn't clear, but lead study author Raj Chetty of Stanford...

Trump's Butler Dishes on How the 'King' Lives

White baseball cap means good mood; red baseball cap means stay away

(Newser) - "You can always tell when the king is here," Anthony Senecal tells the New York Times . The king he's referring to: Donald Trump. Who Senecal is: Trump's longtime butler, who offers the paper fascinating insight into how the GOP front-runner lives at his Mar-A-Lago estate in...

Answer to a Whole Nation's Poverty? Its Richest Person

Top billionaire could end poverty in 3 countries, make inroads in others

(Newser) - As the world's richest and most powerful people leave the World Economic Forum in Davos, Switzerland, there was growing discussion about the impact the world's wealthiest could have, single-handedly, on the poverty rates of entire nations. One analyst at the Brookings Institution crunched some numbers and found that,...

Report: Rich Americans Give Less to Charity

At least in terms of percentage of income

(Newser) - Around the Great Recession years, wealthy Americans are giving less of their income to charity while middle- and low-earners give more—and those who supported Mitt Romney for president give the most of all, the Christian Science Monitor reports. According to the Chronicle of Philanthropy , Americans who make over $200,...

Meet a Family Who Lives in Mansions That Are for Sale

Company lets families live in homes on the market—but every object has a place

(Newser) - When the Mueller family hit hard times in Missouri, they packed up their baby grand piano and $10,000 Pakistani rug and moved into a $750,000 home on a golf course in Florida. It was the only affordable place where they could maintain the extravagant lifestyle to which they'...

Financial Crisis a Joke at Secret Wall Street Party

Excerpt from Kevin Roose's 'Young Money' shows how the 1% gets down

(Newser) - Having ruined the global economy, why not celebrate with a party featuring homophobic jokes and music acts in drag? That's what reporter Kevin Roose discovered when he sneaked into the 2012 annual black-tie induction ceremony of Kappa Beta Phi, a secret Wall Street fraternity that's been around since...

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