Argentina will default for the second time in 13 years if it cannot reach a deal with the U.S. hedge funds before July 30. Following a U.S. judge's order, Argentina can't pay investors who accepted lower-valued bonds after its record $100 billion default in 2001 unless it also pays off creditors who didn't participate in previous bond swaps.» Read More
The billionaire telecom titan has slipped in rankings of the world's richest men, reports CNBC's Michelle Caruso-Cabrera.
A group of United Airlines' most frequent flyers, including billionaire investor Tom Steyer, asked the airline to stop blocking climate change actions.
In an exclusive interview, telecom titan Carlos Slim provides his take on Mexico's regulation of the telecom industry, which could force him to breakup America Movil.
In an extensive interview with CNBC's Michelle Caruso-Cabrera, billionaire Carlos Sims explains why he is not concerned about new regulations which could force the tycoon to overhaul his telecom business. Slim also comments on his contributions to philanthropy in an effort give back to Mexican society.
Carlos Slim has lost money from shares of America Movil, and according to estimates from Bloomberg and Forbes, Bill Gates is once again the richest man in the world, reports CNBC's Robert Frank.
Some of the wealthy say luck played a role in their success, but many say other factors played a bigger role.
Carlos Slim, one of the world¿s richest men, sheds light on his philosophy on wealth by reading poetry in Spanish from Kahlil Gibran¿s ¿The Prophet.¿
Saudi Arabia's Prince Alwaleed bin Talal is suing Forbes for libel, reports CNBC's Robert Frank. Forbes estimated his wealth at $20 billion and Prince Alwaleed says he's worth $29.6 billion.
Savoy Hotel owner Prince Alwaleed bin Talal has decided to sue Forbes, claiming the magazine has underestimated his fortune.
Two stunning collections of literary letters are up for sale in New York for more than $5 million.
The world's 2,170 billionaires have an average of $31 million each of art, reports CNBC's Robert Frank.
A new study found that the world's 2,170 billionaires hold an average of $31 million each of art, equal to 0.5 percent of their net worth. Here are the top 10 holders.
Bain & Co. predicts that growth in luxury sales will be up to 50 percent slower this year than last. The main reason: Chinese are breaking away from their gift-giving culture and trying not to be ostentatious.
Family offices are becoming major players in financial markets. A string of billionaire hedge funders have transformed their funds into family offices. Could SAC be next?
Disneyland likely says it gives visitors to its theme parks the royal treatment, but if you want to see the park through the eyes of a real prince be prepared to pay up.
A slew of recent studies argue that more wealth brings better health: from longer lives to lower disability rates. But wealth may bring a negative side-effect to one group: ladies who lunch, who tend to drink more than is recommended.
Actor Steve Martin is listing his villa in the posh Caribbean island of St. Barts for 8.75 million euros, or about $11.4 million. If he gets what he's asking, he'll score a nice profit on its sale.
France's auction of wines from the Elysee Palace fetched more than three-times its original estimate. The lofty price was the result of the premium placed on the seller—the French presidential palace.
The two-day auction of 1,200 bottles of wine from the Elysee Palace is on pace to surpass its estimate of $300,000, helped by the sale of a 1990 Petrus for $9,400.
The wealthiest 1 percent now control 39 percent of the world's wealth, and their share is likely to grow, according to a new report.