NEWSWORTHY
Davos billionaires keep getting richer — as world's have-nots just keep getting poorer
The global elite descending on Davos are richer than ever. A decade after the financial crisis poured flat champagne on the World Economic Forum, gold-collar executives set to gather there this week have bounced back, and then some. David Rubenstein has doubled his fortune since 2009. ...
The Philippines' wealthiest, man Henry Sy, who rose from being a penniless Chinese immigrant to leading a multibillion-dollar business empire, died on Saturday, his conglomerate has announced. The 94-year-old, from the Chinese city of Xiamen, made his fortune with a Philippine shopping-center conglomerate that has ...
Asia's megarich took a $137 billion hit in the pocketbook in 2018
The world's fastest growing source of megawealth hit a speed bump this year. The 128 people in Asia with enough money to crack the 500-member Bloomberg Billionaires Index lost a combined $137 billion in 2018, the first time wealth in the region has dropped since ...
The number of superrich households in Japan has almost doubled since 2011 to a record high, thanks to rising stock prices and an economic expansion, an indication that this segment of society has benefited from Abenomics. The number of households with net financial assets of ...
Dazzled Mexicans filed into the opulent residence of their presidents on Saturday, when the new government threw open its doors in a highly symbolic moment one visitor likened to entering the Palace of Versailles in the French Revolution. Before leftist President Andres Manuel Lopez Obrador ...
In first speech, Mexican President Lopez Obrador vows to stop 'rapacious' elite
Veteran leftist Andres Manuel Lopez Obrador took office as Mexican president on Saturday, vowing to see off a "rapacious" elite in a country struggling with corruption, chronic poverty and gang violence on the doorstep of the United States. Backed by a gigantic Mexican flag, the ...
Japan's rich have the most cash in Asia, but China is closing in
Japan’s richest have the largest accumulation of wealth in the Asia-Pacific region, at $7.7 trillion, but legions of Chinese millionaires are rushing to catch up.
Financial assets at households of two or more members in Japan averaged ¥11.51 million in a 2018 survey, unchanged from the previous year, the Central Council for Financial Services Information has said. More responding families saw income growth on the back of wage and bonus ...
The night a Chinese billionaire was accused of rape in Minnesota
With the Chinese billionaire Richard Liu at her Minneapolis area apartment, a 21-year-old University of Minnesota student sent a WeChat message to a friend in the middle of the night. She wrote that Liu had forced her to have sex with him. "I was not ...
Amazon briefly becomes second U.S. company to reach $1 trillion market value
Amazon.com Inc. on Tuesday became the second publicly traded company to reach $1 trillion in market value, hot on the heels of Apple Inc. The milestone is another sign of Amazon's swift rise from an online bookseller to a behemoth that sells toilet paper, TVs ...
Thai King Maha Vajiralongkorn named owner of Chakri dynasty's billions
Thai King Maha Vajiralongkorn has been granted full ownership of the palace's billions of dollars worth of assets under a law passed last year, according to a rare "explanatory note" published by the financial arm of the powerful but secretive monarchy. Vajiralongkorn inherited one of ...
U.N. special rapporteur says American poverty is deepening under Trump
Poverty in the United States is extensive and is deepening under the Trump administration whose policies seem aimed at removing the safety net from millions of poor, while rewarding the rich, a U.N. human rights investigator has found. Philip Alston, U.N. special rapporteur on extreme ...
