Inside Wealth
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A new study from U.S. Trust suggests that millionaire parents often don't tell their children how rich they are until well into adulthood. In fact, most believed their kids should little about the family's wealth before the age of 25.
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A new study from U.S. Trust suggests that millionaire parents often don't tell their children how rich they are until well into adulthood. In fact, most believed their kids should little about the family's wealth before the age of 25.
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David Karp stands to make more than $200 million on the sale of his Tumblr blogging site to Yahoo. But his father tells CNBC that money doesn’t motivate the young entrepreneur.
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A huge diamond unearthed in Botswana commanded an unearthly price of $26.7 million from Christie's auction house Wednesday amid the spring ritual of well-heeled bidders flocking or phoning in to Geneva's luxury sales.
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The talk radio personality has reportedly bought a piece of oceanfront property that is the highest dollar deal recorded this year in the tony Florida town.
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A wealthy Chinese businessman hired a crew to smash his Maserati with sledgehammers to protest poor customer service, but the story is similar to another incident. Is this a trend or a stunt?
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Michael Novogratz of Fortress Investment Group said the art market is "100 percent a bubble," and he predicts it will be the next gold.
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The world's wealthy are pouring more of their fortunes into prime vineyards, and brokers say demand is rising for raw acreage as well, prompting Christie's to start a new real estate service.
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News that the Internal Revenue Service scrutinized conservative political groups has put the spotlight on another IRS target: the wealthy.
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In Jay Gatsby's time, the mansions along Long Island's Gold Coast were famous for their excess and price tags. Now, they're more famous for their price cuts.
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Taxes paid by the top earners are putting the U.S. back in the black, according to the Congressional Budget Office.
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The world's largest auction houses will host "blockbuster" sales of contemporary art this week, as buyers' tastes shift away from pre-19th century "Old Masters", a fine art expert told CNBC.
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Ferrari is capping production this year. The stated reason: status protection. But what's the reality? Some experts think it may be a sign of lower demand for the luxury car.
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The first of the big spring auctions began Tuesday night at Sotheby's, as bidders put money on their walls rather than in the shakier financial markets. The New York Times reports.
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If you were looking for millionaires, you'd probably head to London or New York or Monaco. But you might be better off trying Tokyo.
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Tax attorneys say celebrities like Grammy Award winner Lauryn Hill are often sentenced and prosecuted more vigorously so that officials can send a message to the public.
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Ralph Lauren, the fashion mogul and vintage-car collector, recently took delivery of a new RUF CTR-3, according to people familiar with the deal.
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What are art lovers interested in this spring? A peek at the billion dollars worth of art on offer at Christie's and Sotheby's.
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Wealthy Chinese are on a global shopping spree. Along with handbags, art and condos, they're also buying foreign visas.
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Billionaires Bill Gates and Warren Buffett said limits on charitable deductions could hurt giving—but only among the lesser rich.
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.160x105.jpg?v=1367800214 "Singapore's Wealthy Probed in Hunt for Tax Cheats")
Banks in Singapore are urgently scrutinizing their account holders as an imminent deadline on stricter tax evasion measures forces them to decide whether to send some of their wealthiest clients packing.
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Frank joined CNBC in 2012 as a reporter and editor. He is a leading journalistic authority on the American wealthy.