RIYADH, Dec 26- Saudi Arabia's finance minister said there was no need for the kingdom to create a sovereign wealth fund to manage its oil wealth, rebuffing suggestions by prominent officials and businessmen. At present, the surplus petrodollars of the world's top oil exporter are mostly invested abroad by the Saudi Arabian Monetary Agency, its central bank,...» Read More
Singapore could overtake Switzerland as the world's capital for offshore wealth by 2020, a new report says.
"G.I. Joe: Retaliation" won the box office battle, fighting off competition from cartoon cavemen, a Tyler Perry drama, and an alien-possessed heroine trying to save the human race.
Berkshire Hathaway billionaire Charles Munger is giving a $110 million in stock to the University of Michigan — the largest donation in its history — for a graduate student residence hall.
A nearly 75 carat diamond's sale at Sotheby's offers further evidence of the roaring bull market in hard assets.
As Hamptons homeowners battle beach erosion, a flurry of construction is touching off bitter disputes over the environment, real estate and class.
The founder of the hedge fund Third Point has reportedly purchased the 200-foot "April Fool" from Sandy Weill, the former CEO and chairman of Citigroup for about $52 million.
In the highly personal interview, the cable magnate talked about his wealth, his land holdings and the one toy he does enjoy: Barry Diller's yacht.
The recent birth of a daughter to Roman Abramovich and his girlfriend helps explain why the Russian billionaire has kept his mega-yacht docked on Manhattan's West Side.
Higher than expected tax revenues resulting from outsized gains by the wealthy in 2012 could ease the budget pressures in Washington — or stoke arguments over taxes and spending.
A new study is turning the American dream on its head: Maybe it's not hard work that brings success and money. Maybe it's sheer brainpower.
That'll give him something to wine about: A judge awarded a billionaire $12 million after a tech entrepreneur sold him vintage wine that turned out to be fake.
A new study from Duke University shows that 45 percent of billionaires are in the top 1 percent of intelligence, with the "Power Lunch" crew and Business Insider's Henry Blodget.
The gusher of cash from the Fed explains why prices for everything from 1950s Ferraris to Brazilian farmland to old U.S. stamps are surging.
Raul Moreno, IBillionaire co-founder, explains how his app can help people invest like Warren Buffett or Carl Icahn.
Cosmetics tycoon Leonard Lauder has promised New York's Metropolitan Museum of Art his long-sought collection of Picassos and other works.
Which ZIP codes were home to the priciest home sales? A new report takes a look.
A new yacht launched Friday bumped Russian oligarch Roman Abramovich's yacht – the 536-foot Eclipse – from its number one ranking.
CNBC's Robert Frank explains the "wealth effect" and what today's market sell off says about the wealthy.
CNBC's Robert Frank reports on a bitter family feud that involves dueling allegations of fraud, lavish spending and tens of millions of dollars in private jet rides for puppies.