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Inside Wealth

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  • "Supercar" Sales Die as Italian Cops Nab Tax Cheats Monday, 23 Apr 2012 | 12:13 PM ET

    Maserati dealers in Italy are reporting a 80 percent drop in the first quarter compared to the same period last year, according to a Reuters report, due to a crackdown by the Italian government’s T-men—the Guardia di Finanza, or tax police.

  • Report: Forty-Six Donors Dominate Super PAC Funding Sunday, 22 Apr 2012 | 9:51 PM ET
    Chairman of Las Vegas Sands, Sheldon Adelson offers a toast during a pre-show reception on the opening night of "Phantom - The Las Vegas Spectacular" at the Venetian Resort Hotel Casino in Las Vegas, Nevada.

    Nearly $110 million — more than half the money raised by super PACs since Jan. 1, 2011 — came from just 46 people, businesses and organizations that donated at least $1 million each.

  • Rich Americans Most Upbeat They've Been in Year Friday, 20 Apr 2012 | 5:56 PM ET

    Fifty percent of all wealthy Americans are now optimistic about the economy, up 12 percent this year and the highest in about a year, a new survey says.

  • Mercedes Unveils Its Latest Small Car Concept Thursday, 19 Apr 2012 | 10:20 AM ET
    Mercedes-Benz new Concept Style Coupe.

    Mercedes is taking another crack at a small luxury car and this one, coming to the big auto show in Beijing, looks like a winner.

  • Art and Prime Property Were Best Bets in Recession Wednesday, 18 Apr 2012 | 12:46 PM ET
    Sotheby's staff carry away the Edouard Manet painting entitled 'Portrait De Manet Par Lui-Meme, en Buste' (Manet A La Palette) ('Self-Portrait with a Palette') after it was auctioned at Sotheby's in London on June 22, 2010 where it fetched 20,000,000GBP.

    Following the financial crisis, two markets have emerged as relatively safe havens for international money: art and prime property.

  • What's in a $22 Million 1 Bedroom Condo?  Tuesday, 17 Apr 2012 | 4:39 PM ET

    This rental costs 1.8 billion yen and only has one bedroom. See why it's so pricey.

  • Tax Day Pulitzer to the Times' Kocieniewski Tuesday, 17 Apr 2012 | 3:40 PM ET
    Pulitzer Prize Medallion

    New York Times reporter David Kocieniewski's Pulitzer was well-deserved, and perfectly timed.

  • Celebrities Are Often in Debt to the Tax Man Tuesday, 17 Apr 2012 | 11:00 AM ET
    Lionel Ritchie

    Celebrities and entertainers often have huge incomes that vary wildly from year-to-year. This is a recipe for tax trouble that can follow even the most successful performers.

  • For Two Economists, the Buffett Rule Is Just a Start Monday, 16 Apr 2012 | 4:40 PM ET
    Thomas Piketty (L), Emmanuel Saez (R)

    High earners worried that this year’s Tax Day will be the last before their rates rise have more than the White House and Washington to blame. They can also look to two academically revered French economists whose work is the subtext for the battle over tax fairness.

  • How Much Was Titanic Victim John Astor Worth? Monday, 16 Apr 2012 | 12:15 PM ET
    Mr and Mrs Astor, First Class passengers on Titanic, Madeleine Force and John Jacob Astor had been on an extended honeymoon in Egypt and Paris and in the spring of 1912, decided to return to America on board Titanic.

    While it’s generally accepted that John Jacob Astor IV was the richest man in the world when he went down with the ship, estimates of his personal fortune range wildly.

  • Mandarin Becoming the Second Language of Luxury Sunday, 15 Apr 2012 | 8:28 PM ET

    Recent reports from the worlds of retailing, real estate and education suggest that speaking Mandarin is becoming a prerequisite to making high-end sales.

  • Damien Hirst: Artist as Business Strategist Friday, 13 Apr 2012 | 5:00 PM ET
    "The Physical Impossibility of Death in the Mind of Someone Living" by Damien Hirst.

    Damien Hirst is the greatest living, and possibly the greatest ever, moneymaker-as-artist. MBA teachers get their students to analyse his business strategy. But what business is he in?

  • The 10 Highest Paid CEOs Friday, 13 Apr 2012 | 10:07 AM ET
    Recession, Dodd-Frank rules, and criticism from their own shareholders may have slowed the growth of corporate pay in recent years, but according to initial reports on 2011 compensation, America's chief executives are hardly going wanting. The ten highest-paid CEOs were paid an average of nearly $90 million dollars, when all of an executive’s compensation is considered. The compensation figures listed represent total calculated compensation (TCC), which includes salary, bonuses, estimated stock

    The 10 highest-paid CEOs were paid an average of nearly $90 million dollars, when all of an executive’s compensation is considered. So, who were the highest paid CEOs of the year?

  • Super Rich Spared So Far by IRS Audit Task Force Thursday, 12 Apr 2012 | 1:05 PM ET
    The IRS building in Washington, D.C.

    Despite the Internal Revenue Service's promise to bring new scrutiny to the super rich, a new report finds that of nearly 8,300 individuals with income of $10 million or more, as few as a dozen may have been audited.

  • Luxury Apps Pamper High-End Shoppers Thursday, 12 Apr 2012 | 12:08 PM ET

    High-end merchants like Neiman-Marcus and luxury brands like Burberry and Stella McCartney are adapting to the new virtual shopping scene, incorporating mobile apps, “augmented reality” and iPad link-ups that extend, rather than sully, the plush experience of their stores.

  • Newspaper Barons Resurface Tuesday, 10 Apr 2012 | 3:30 PM ET
    Newspapers

    Newspapers may be short on profits, but they have become a new form of ostentation. How rich is he? He can afford to own a newspaper, for crying out loud.

  • A Costly Toy Subsidized by Others Tuesday, 10 Apr 2012 | 11:16 AM ET
    Dodger Stadium

    One of the new owners of the Los Angeles Dodgers plans to use money from insurance companies to pay for a big chunk of his purchase of the team. The move seems like a lawsuit waiting to happen.

  • The World's Richest CEOs Tuesday, 10 Apr 2012 | 1:50 AM ET
    The world’s richest chief executives have all either founded or built companies from the ground up, in many cases transforming their industries.While some of them inherited wealth, most came from modest beginnings. One started as a newspaper boy, another as an insurance salesman, a third as a mortgage broker.Our list of the 10 richest CEOs spans across four generations; the youngest CEO on the list was born in 1984, the oldest in 1930.The ranking is based on net worth figures from Wealth-X, a re

    The world’s richest chief executives have all either founded or built companies from modest beginnings. Find out who are the world’s wealthiest billionaire-CEOs.

  • London and New York Draw Asian Real Estate Buyers Monday, 9 Apr 2012 | 2:44 PM ET
    St George's Flag & Houses of Parliament

    Growing prosperity in Asia is having a spin-off effect on European and U.S. property markets as the new millionaires from emerging economies look to park their wealth in key cities in the developed world.

  • A Private Jet With Space for Both the Rolls-Royces Saturday, 7 Apr 2012 | 6:00 PM ET
    Saudi Prince Alwaleed bin Talal

    Defying the economic slump, celebrities, corporate titans and Internet entrepreneurs in recent years have upgraded to bigger planes, with leather seats, plush bedrooms and opulent boardrooms.

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