Wealth

Elon Musk attends the 2022 Met Gala at the Metropolitan Museum of Art. Angela Weiss | AFP | Getty Images President Joe Biden drew loud cheers during his State of the Union address Tuesday night when he proposed a new tax on the rich. “Pass my proposal for a billionaire minimum tax,” Biden told Congress.

In this article CPRI Follow your favorite stocksCREATE FREE ACCOUNT A general view outside of a Michael Kors location Christopher Jue | Michael Kors | Getty Images Shares of Michael Kors owner Capri Holdings plunged 20% in early trading Wednesday after the company missed earnings expectations and cut its annual profit forecast. High-end fashion companies

The luxury hotel brand Six Senses is planning to open its first hotel in Australia — inside an old family mansion. The heritage house and its 22-hectare estate, named Burnham Beeches, are 25 miles from Melbourne in the forested Dandenong Ranges. The house was designed in 1933 for an Australian family, according to a website

These days, fewer Americans — including millionaires — feel confident about their financial standing. Although the rich are getting richer, 58% of high net worth individuals said they accept that they will have to keep working longer and 36% worry that retirement may not even be an option, according to data from Natixis Investment Managers.

When the HBO black comedy “The White Lotus” premiered in the summer of 2021, it took viewers to Hawaii’s sunny Maui. It was a perfectly timed pandemic escape full of intrigue, satire, sex and bloodshed. The second season featured a mostly new cast — save for Jennifer Coolidge and her character’s quietly sinister husband, played

Jetcityimage | Istock | Getty Images If you’re trying to max out the yearly purchase limit for Series I bonds, your tax refund offers an opportunity to buy even more. However, you should consider your goals and weigh alternatives first, experts say. An inflation-protected and nearly risk-free investment, I bonds are currently paying 6.89% annual

If you ever find yourself taking a meeting with Jeff Bezos, don’t expect the billionaire Amazon founder to speak first. Before Bezos stepped down as Amazon’s CEO in 2021, he made a practice of letting his employees speak first. Now, his girlfriend Lauren Sanchez — the founder of Santa Monica, California-based aerial filming company Black

Mark Cuban built his fortune in the tech world. That doesn’t mean he worships Silicon Valley. The billionaire star of ABC’s “Shark Tank” makes a conscious effort to keep his investments outside of the California tech hub, he told Bill Maher on a recent episode of the “Club Random” podcast. California has higher taxes and

dmphoto | E+ | Getty Images Tax season is underway, and there’s been increased scrutiny of the IRS as it starts deploying part of the nearly $80 billion in funding approved for the agency by Congress in August.  While Treasury Secretary Janet Yellen has said goals include boosting customer service and improving technology, critics have

SpaceX CEO Elon Musk speaks during the 67th International Astronautical Congress in Guadalajara, Mexico. Susana Gonzalez | Bloomberg | Getty Images Bill Gates questioned whether Elon Musk’s current priorities would make him a good philanthropist, taking issue with his fellow billionaire’s ambition to send people to Mars. In an interview with the BBC, set to

Hong Kong’s new global promotional campaign will “kickstart” the city’s reopening to international travelers, the Hong Kong Tourism Board told CNBC’s “Squawk Box Asia” on Friday.  As part of the “Hello Hong Kong” campaign, which was launched on Thursday, 500,000 air tickets will be given away over the next six months, starting in March. The

Jeffrey Coolidge | Photodisc | Getty Images Black Americans are roughly three to five times more likely to face an IRS audit than other taxpayers, according to a new study. While there isn’t evidence of explicit discrimination from the IRS or its revenue agents, the findings show the disparity stems from a faulty software algorithm