The world’s richest have amassed an eye-watering stockpile of $15.1 trillion—and their heirs are set to take over a third of the global billionaire fortune in the coming decade. Women and Gen Xers are set to take home the largest slice of the pie. About 5,000 spouses and adult children will inherit $6.6 trillion of
Chinese fast-fashion business Shein Global Holdings Ltd. was once worth more than the parent companies of H&M and Zara, giving its reclusive boss Sky Xu a net worth of more than $23 billion. But Xu’s fortunes have turned in four short years as Shein battles tariffs, political scrutiny and growing competition. Shein is set to
The thought of a billionaire’s lifestyle may conjure up images of Great Gatsby mansion-buying and jet-setting at the drop of a hat. But the life of an heiress with the wealth of two multibillion-dollar American businesses looks a lot different. Mitzi Perdue was born into the Sheraton hotel family, and at just the age of
The consultant who once warned that California’s richest poured millions into politics because they had something to gain is now helping billionaires fight a tax on their fortunes. Ned Wigglesworth, who decried the “billionaire boys’ club of politics” as a campaign finance reformer decades ago, is a key strategist behind Building a Better California, the
With an estimated net worth of $400 million, Kevin O’Leary could afford to never cook, clean, or grocery shop for himself ever again. But the Canadian businessman and Shark Tank investor isn’t one to pass up financial savings—no matter how small. “I’m always looking for a great deal, that’s why I’m in Walmart,” he said
In a world where seemingly no one is immune to the impacts of AI on the workforce and an increasingly stiff job market, ultra-high net worth people are starting to have the same concerns as middle-class and low-income families: Will my kid be able to get a job and support themself? “Billionaires have the financial