Inside Wealth: Spending
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Amelia Island's classic car auctions brought less than last year, but Ferrari prices, a closely watched telltale, easily matched expectations.
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Russians are spending hundreds of millions of dollars on waterfront palaces in Miami, launching the next big land grab by the world's super-rich.
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A Ferrari F12 Berlinetta sold for $1.125 million over the weekend, with the proceeds going to Hurricane Sandy charity.
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If the charitable deduction is capped or cut, some say, the United States will lose billions of dollars in charitable donations. But there is little hard data to support the claim.
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An Andy Warhol canvas led Christie's $412.3 million sale in New York, signalling a shift in tastes to midcentury and contemporay American work.
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Sotheby’s contemporary art sale had total sales of $375 million, shattering the old record of $362 million set in May 2008, before the financial world collapsed.
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John McAfee, now wanted for questioning in a murder in Belize, moved to the country to escape U.S. regulations and the "materialism" of the American wealth culture.
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In the wake of Sandy, the election and the Dow's fall, the fall auction season began with a sale that could generously be described as “subdued.”
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Millionaires candidates who used their own money to run were roundly rejected by voters last night, and the majority were targeted during the campaign for their wealth.
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While not a record for self-financed campaigns, the $90 million former pro wrestling executive Linda McMahon spent on her two failed Senate bids could have bought her plenty of luxury.
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Wealthy candidates are hoping they don't see a repeat of 2010, when millionaire office-seekers were roundly defeated.
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Asset protection isn't only for the well-off. Anyone with a nice home and a couple of cars should consider taking a few simple steps.
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Companies have given millions to the Sandy cause. But so far, big charity checks from the rich remain scarce.
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The owner of a private bridge in Michigan is spending millions to block a new government-funded bridge nearby. When do the wealthy have too much political influence?
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As China’s economy slows, shoppers are slowly overcoming the stigma of wearing“pre-owned” luxury goods.
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Rumors were that plans for the former Apple CEO's boat had been shelved during Jobs's illness. But the yacht has just had its posthumous launch in the Netherlands.
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Spending by the super-rich has largely recovered in areas like art, wine, super cars and mansions. But new orders for yachts over 130 feet are down by half since 2008.
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A study of college freshman shows that 86 percent want to be financially well-off -- up more than 10 percent from last year.
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Call it two-for-two. For the second time in as many months, a London-listed luxury company has warned on its profits, sending a shock wave through the luxury goods sector.
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As Asia Slows, Luxury Watchmakers Count on Elite Buyers
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A new study finds that affluent voters will spend more, invest more and put more money into their businesses if Romney wins in November.
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Frank joined CNBC in 2012 as a reporter and editor. He is a leading journalistic authority on the American wealthy.