California wealth tax would cause rich to flee, governor Newsom warns
At least six billionaires have already left the state ahead of the Jan 1 residency cut-off California governor Gavin Newsom warned that a proposed one-time tax on billionaires…
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wealth
Hong Kong banks to see wealth ‘windfall’ as fees jump: report
Risk appetite also remains “firm” thanks to expectations of further interest rate cuts by the Federal Reserve through the year Hong Kong banks, led by HSBC Holdings and Bank of…
HSBC to shut Raffles Place branch amid deeper push into wealth management
The bank has three other wealth centres in the city-state, with one more to be added in February this year Holdings will close a key retail branch in Singapore’s financial…
California crypto startup moves to South Dakota as debate over proposed wealth tax heats up
California cryptocurrency startup BitGo has moved to South Dakota ahead of its initial public offering and amid a heated debate about a proposed ballot measure to tax billionaires. The…
A majority of millionaires say extreme wealth is a threat to democracy
As wealth inequality widens and billionaires become increasingly enmeshed with politics, the public is growing more and more disillusioned with the ultra-wealthy, and the role they play in…
Private Chinese wealth fuels Singapore office market as vacancies drop: JLL
Private Chinese capital is still actively pursuing opportunities in Singapore, even as institutional Chinese capital recedes The prime office sectorin Singapore is a “top pick” for real…
Billionaires’ wealth hits new peak as their clout grows: Oxfam
BILLIONAIRE wealth surged at three times its recent pace last year to reach its highest level on record, deepening economic and political divides that threaten democratic stability,…
Sovereign wealth funds join clamour for private credit in EMs
A record wave of private credit deals across emerging markets (EMs) looks set to extend this year, with a host of institutional and sovereign wealth investors seeking to diversify their…
HSBC weighs future of Singapore life insurance business as analysts assess impact on wealth strategy
The bank says this comes under the group’s global ‘ongoing simplification’ drive HSBC said on Friday (Jan 16) that it would conduct a strategic review of HSBC Life, its insurance…
HSBC launches UAE asset management business to tap into wealth influx
The bank has focused its growth efforts on regions such as Asia and the Middle East HSBC is opening an asset management business in the UAE and launching 10 onshore funds, it said on…
Silicon Valley Billionaires Panic Over California’s Proposed Wealth Tax
Did California lose Larry Page? The Google and Alphabet cofounder, who left day-to-day operations in 2019, has seen his net worth soar in the years since—from around $50 billion at the…
To be a wealth hub, Singapore must accept risk of rogue actors: Chee Hong Tat
MAS deputy chairman wants the Republic to be a place where entrepreneurs would bring their capital and talent To achieve the goal of becoming a wealth management hub, Singapore must accept…
Fujian gang, Prince Group money laundering incidents unlikely to dent Singapore’s appeal as wealth hub
MAS likely to go ahead with simplifying SFO tax incentive framework in face of rising competition Singapore has risen to become one of the top wealth hubs globally in the past few years…
Hong Kong’s financial resurgence fuelled by surge of offshore wealth
Strong net fund inflows of HK$7 trillion brought the city’s managed assets back up to HK$35.1 trillion at the end of 2024 The turnaround in Hong Kong’s financial stature has come swiftly,…
Philippine wealth fund to invest in port company Asian Terminals
The Philippine sovereign wealth fund has pursued a few deals since its inception in 2023 Philippine sovereign wealth fund Maharlika Investment plans to acquire a minority stake in Asian…
Bank of America expands crypto access for wealth management clients
As US President Donald Trump continues to push regulatory relief for the asset class, crypto has been benefiting from widespread institutional adoption Bank of America will begin allowing…
Paramount Skydance’s Latest Bid for Warner Bros. Discovery Backed by Three Middle Eastern Wealth Funds
The second round of offers for all or part of Warner Bros. Discovery are in from Paramount Skydance, Netflix and Comcast. And the new, higher offer for all of WBD from David Ellison’s…
Nomura CEO sees big growth phase in wealth and asset management
[TOKYO/YOKOHAMA] Nomura’s chief executive officer vowed to build on the company’s earnings revival by strengthening businesses across the board, ranging from wealth to asset management and…
How Sovereign Wealth Funds Grease Trump’s Kleptocracy
Neither Dmitriev nor the RDIF has much of a reputation in the United States. As recently as October Treasury Secretary Scott Bessent dismissed Dmitriev as “a Russian propagandist.” A 2022…
Singapore Bank OCBC’s shares hit record as wealth unit shines
OCBC shares gained as much as 0.6%, above the previous high from more than two weeks ago Oversea-Chinese Banking Corp (OCBC) shares hit a fresh record as the wealth-management business…
OCBC’s shares hit record as wealth unit shines
OCBC shares gained as much as 0.6%, above the previous high from more than two weeks ago Oversea-Chinese Banking Corp (OCBC) shares hit a fresh record as the wealth-management business…
OCBC shares continue record-breaking streak to hit S$18.95 as wealth unit shines
OCBC shares surged further to another new high on Wednesday (Dec 3) after a record-breaking performance on Tuesday. OCBC is supported by “outperformance in the wealth franchise, and the…
Closing the wealth gap: The solution is hiding in plain sight
When an X user recently pointed out the eye-popping increase in billionaires’ wealth since 2015, entrepreneur Mark Cuban, a billionaire himself, responded with his opinion on why, but he…
Norway wealth fund to vote against Musk US$1 trillion Tesla pay package
Investors in the electric-vehicle maker will decide on Nov 6 whether to approve the package Norway’s sovereign wealth fund, the world’s largest, said on Tuesday (Nov 4) it would vote…