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“#Bernie Sanders clashes with Elon Musk over massive fortune” Elon Musk says he’s hoarding wealth for a good cause — but it’s not good enough for Sen. Bernie Sanders. The left-wing lawmaker targeted the billionaire Tesla CEO after Musk claimed he would use his giant fortune to support life on other planets. Sanders — a Vermont independent…
“#Warren Buffett’s net worth hits $100B — good for 5th on world’s richest list” Warren Buffett’s fortune reached $100 billion on Wednesday, as investors drove the stock price for his company Berkshire Hathaway to a record level. Buffett’s net worth, as measured by Forbes magazine, comes almost entirely from owning about one-sixth of Berkshire, a…
“#Goldman Sachs launches robo-adviser for Marcus customers” Goldman Sachs has jumped into the red-hot retail investor market — but don’t expect it to recommend stock tips that you’ve found on Reddit. The megabank unveiled a new robo-adviser tool on Tuesday, giving customers of its Marcus savings account access to its wealth management services, which had…
“#Wealthy folks are buying jewelry from home during COVID” In pandemic times, if you can’t go to the bling, the bling will come to you. Some of New York City’s high-end jewelers say they’ve had record sales over the past 11 months, all because they’re making house calls. “Our sales are up 300 percent since…
“#How to tax the wealthy without a ‘wealth tax’” Michael Smart: To boost fairness, productivity and government revenue, tax capital gains Michael Smart teaches economics at the University of Toronto and is co-director of the Finances of the Nation project. Recent months have seen increased chatter about the idea of an annual “wealth tax” to…
“#Rich people are more likely to socially distance: study” Thanks to better health care access, job stability and a cushy home, the wealthy are socially distancing at higher rates than low-income households. Economic researchers at Johns Hopkins University have identified a stark metric: People making more than $230,000 per year are up to 54% more…
“#Bill Gates is the largest farmland owner in America: report” Bill Gates may no longer be the world’s richest man, but he can claim a new title: America’s farmland king. The billionaire Microsoft co-founder has become the largest owner of farmland in the United States by quietly buying up massive plots across the county, a…
“#COVID-19 pandemic making healthcare leaders billionaires” COVID-19 has helped turn dozens of healthcare leaders into newly-minted billionaires, according to a report. Fifty doctors, scientists and healthcare entrepreneurs earned billionaire status this year — the majority of whom are from China, where the virus first emerged in December 2019, Forbes reported. Of the new cohort, there…
“#Nuke deal won’t bring stability and other commentary” Foreign desk: Nuke Deal Won’t Bring Stability Joe Biden claims the best way to achieve Mideast “stability” is by rejoining the nuclear deal with Iran — yet stable, counters Matthew Continetti at The Washington Free Beacon, “is not how most people would describe” the region after the…
“#Tax cuts for the rich failed to boost economic growth: study” Cutting taxes for rich people made developed countries more unequal but failed to grow their economies over the last half-century, a new study says. The paper from the London School of Economics and King’s College London challenges the idea that trickle-down tax policies —…