Wealth

LVMH announced Friday that it will partner with Robyn Rihanna Fenty to create a new luxury fashion house under the label “Fenty.” This would put Fenty under the same umbrella as LVMH’s other luxury fashion houses including Louis Vuitton, Christian Dior, Fendi and Givenchy. LVMH said the Paris-based brand will launch its first line this

Millennials have hugely unrealistic expectations about when and how much they will inherit, according to new research. According to the investment management firm Charles Stanley, millennials expected to be left an average £129,380 ($168,450) – but official statistics showed that the average inheritance in the U.K. is currently £48,000, while the median inheritance is £11,000.

Uber is set to go public in the biggest IPO of a U.S. company since Facebook seven years ago. It probably will be valued at around $90 billion. Why does it matter? Facebook changed the way we socialize and the way we advertise. Google changed the way we search and watch video. Uber, as much

City of London financial district with Royal Exchange building. Alexander Spatari | Moment | Getty Images A majority of wealthy U.K.-based investors see an economic upside for the U.K. despite uncertainty surrounding its withdrawal from the EU, according to a new quarterly survey by UBS. Published Tuesday by UBS Global Wealth Management, the study polled

Hedge fund king Ray Dalio said the U.S. will end up adopting an economic philosophy that uses zero interest rates to finance big government spending for more widespread growth. Known as Modern Monetary Theory, the idea of running up large debts and deficits in order to pull the economy out of weak periods has some

In this Tuesday, Aug. 4, 2015 file photo, a nurse places a patient’s medication on an intravenous stand at a hospital in Philadelphia. AP Photo | Matt Rourke Idaho’s wealthiest man just launched a new fund to defend people from “overly aggressive medical debt collectors.” About 1 in 5 Americans with health insurance has some

Oliver Rossi | Corbis | Getty Images Maybe you won’t hit an actual million in retirement savings. But if you change your strategies now, it’s definitely possible to double or triple the size of your retirement account. It all depends on how much you learn and how much you invest. You can take 100 people

Barry Sternlicht Cameron Costa | CNBC Questions raised by progressives in the 2020 presidential race about whether capitalism still works for America reflect mistaken beliefs about how prosperity is created, global investor Barry Sternlicht told CNBC on Tuesday. “The left does not understand that companies need to make money in order to invest in new

Capitalism vs. socialism? For Melinda Gates, the choice is simple. “What I know to be true is I would far rather live in a capitalistic society than a socialist society,” Gates said in an interview with CNBC’s Becky Quick that aired on “Squawk Box” on Wednesday. “I think when we stop and think of what

Officials from the FBI and U.S. Attorney’s office in Florida have been interviewing customers of JetSmarter about the private jet company’s business practices and communications, according to JetSmarter customers. The scope and nature of the inquiries are unclear. In a statement to CNBC from JetSmarter and its new owner Vista Global, the company denied JetSmarter

Billionaire philanthropist and former tech executive Melinda Gates is urging parents in the United States to vaccinate their children because it “saves lives.” In an interview with CNBC’s Becky Quick that aired Wednesday, Gates said she is “very frustrated” by the growing misinformation efforts of anti-vaccination activists, a vocal fringe in the U.S. who oppose

Philanthropist Melinda Gates is calling on religious and political leaders to embrace the role that birth control can play in helping lift families out of poverty. “No country in the last 50 years has escaped poverty without making sure that women have access, voluntary access, to contraceptives,” the co-chair of the Bill & Melinda Gates

We all make mistakes, yet there are a few bad habits the super-rich tend to avoid. Here are five money missteps that may be keeping you from getting rich. When the stock market drops — as we saw in December, when major indexes all dropped at least 8.7% — you have to know what you

Investing can be a great way to grow your money, yet the fear of not being educated enough about the stock market and losing money tends to scare off a lot of people. But best-selling life-management author and CNBC contributor Suzy Welch says you don’t need to be an expert. “Sometimes your instincts are really

The fossil of a baby T-Rex is being sold on eBay for almost $3 million, sparking outrage among the scientific community. The 68-million years old fossil, reportedly listed by professional fossil hunter Alan Detrich, has a “buy it now” asking price of $2.95 million. The listing, last updated on Tuesday, claims the artefact is “most

It’s tax time in America — and not just for accountants. The April 15 deadline for federal tax returns is fast approaching. At the same time, taxing the wealthy is becoming a big political issue in the leadup to the 2020 presidential election. Rep. Alexandria Ocasio-Cortez, D-N.Y., proposed a 70 percent marginal tax rate on

Millennials are being squeezed out of the world’s middle class as incomes stagnate and costs rise, according to research by the Organization for Economic Co-operation and Development (OECD). In a report published Wednesday, the 36-nation intergovernmental economic body said younger people were struggling to make it into that bracket, while those who were already included

Private jet company Vista Global agreed to acquire JetSmarter, betting that the value of JetSmarter’s technology will outweigh the controversy and lawsuits still dogging the company. Terms and price weren’t disclosed. The deal, once approved, will be an equity swap, with JetSmarter investors receiving equity in Vista Global. Vista said it plans to integrate JetSmarter’s

Twitter says it paid co-founder Jack Dorsey a salary last year for the first time since he returned to his post as CEO in 2015. The billionaire was paid a symbolic sum of $1.40 in 2018, the firm said in a regulatory filing Monday, likely a reference to Twitter’s old character limit. Twitter’s reasoning? It’s

JetSmarter has reached an agreement to settle claims made by some of its members that the company engaged in unfair and deceptive practices, according to a settlement notice. The private jet company, which once had more than 8,000 members and a self-proclaimed valuation of over $1 billion, has been the target of more than a