Monday, October 11, 2021
American multinational financial services firm Wells Fargo announced on Thursday, March 11, that it will retire the Abbot Downing wealth management brand as part of its restructuring move. The unit, which services the ultra-rich, accounts for a minimum of $50...
The Norges Bank Investment Management (NBIM) is closely watching Kirin Holdings Ltd. because of its link with Myanmar’s military-owned business, reported Bloomberg. This can result in the fun’s divestment in the beverage company. Myanmar’s military is being scrutinized for the...
In some states, areas known for their wealth are expected to get the vaccine earlier than those with low incomes, reported Business Insider. The reason for this disparate vaccination plan is attributed to poor rollout design. Data shows that the...
In a move to promote wealth equality in the Washington state, the legislators are looking into enforcing a one percent tax for individuals with wealth over a billion dollars. House Bill 1406 is exclusively for billionaires with a household wealth...
Kuwait, considered one of the world’s richest nations, has reportedly been forced to open and transfer the remnants of its current performing assets to its sovereign wealth fund as it aims to have more cash at its disposal, reports...
Anti-poverty group Oxfam publishes a report citing how steep the income inequality has been at the time of the pandemic, with billionaires’ combined wealth could save the world from falling into poverty. According to the report, the collective wealth of...
U.S. multinational bank Morgan Stanley reported a profit jump of 51 percent in its fourth-quarter report, rounding up an excellent performance in all three businesses. The bank’s revenue hits $13.64 billion, a $2 billion ahead of wealth analysts’ estimate of...
Tesla co-founder and billionaire Elon Musk once again takes over the top spot as the richest person in the world. The news comes as Tesla stocks regain footing on Tuesday, January 12, 2021. Prior to this, Musk’s net worth...
In the past year, in which economic decline became an overarching theme, billionaires Jeff Bezos and Elon Musk were able to break profit world records, said Entrepreneur. Both showed an incredible increase in wealth during the pandemic. Amazon founder and...
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) has launched a new company that will expand the security sector in the Kingdom. Driving more job opportunities to transform the economy of the kingdom, the National Security Services Co....

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