Inside Wealth
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New data from the IRS shows that tax filers with taxable incomes of $1 million or more were audited nearly 12 times more often than the population as a whole.
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New data from the IRS shows that tax filers with taxable incomes of $1 million or more were audited nearly 12 times more often than the population as a whole.
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London's blue chip neighborhoods like Belgravia are increasingly owned by rich, and largely absent, foreigners.
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Steven A. Cohen is known for his rapid-fire trading style at his hedge fund SAC Capital Advisors. He seems to be taking a similar approach with recent purchases. The NY Times reports.
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"Taxes are going to kill spending!," they cried. "Don't punish the rich!" Well, the rich have spoken and guess what? They're still spending.
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Here's one sign of a global housing recovery: Every month seems to bring a new "world's most expensive" listing or sale. This month's offering is the penthouse of the Tour Odeon in Monaco.
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As the gap between the wealthy and rest of America becomes a hot-button issue in Washington, the Fed's ability to improve the situation may soon move into the spotlight.
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The Cyprus bailout and the death of Russian oligarch Boris Berezovksy this weekend might seem like entirely separate events. But they are deeply connected. And they share the same root tragedy: Call it the "The Oligarchs' Curse."
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The split between oil king Harold Hamm and his wife could required him to sell a large number of shares or give her shares that she might then sell.
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A tax on wealthy New Yorkers follows efforts in other states to improve shaky balance sheets with revenue from those with top incomes.
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While a unique case, Cyprus' unique bailout terms have sent a shudder through the multi-trillion dollar world of offshoring.
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China's rich are younger and wired, forcing luxury car companies to turn to social media to peddle their wares.
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Guaranteed for 25 years, a British bedmaker's Mongolian cashmere mattress "pays off every morning of your life," said a company representative.
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Paul Ryan's proposed budget would cut taxes for just about everyone, with the top earners getting the biggest tax cuts.
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The problem, some argue, is the inability of non-profits to find new ways to engage the rich in problem solving.
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The long rally in stocks has been the biggest driver of the number of millionaires, which may have already exceeded an all-time record.
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The life of a "close protection operator," charged with protecting mega-wealthy clients and giving their families peace of mind.
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Rich people are picking up the slack in spending, with the rest from those working in an economy of under-the-table cash payments.
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Rising stocks, an improving economy and the 2013 tax hikes have driven prices up for mountain homes in the West after a four-year drought.
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The collectibles market grew by 175 percent over the past 10 years – a far better record than U.S. stocks. The biggest surprise? Coins.
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When it comes to philanthropy, wealthy Americans lead the world, but a new survey suggests they could give more.
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Frank joined CNBC in 2012 as a reporter and editor. He is a leading journalistic authority on the American wealthy.