Bugatti CEO Mate Rimac told CNBC he thinks high-end sports cars will continue to have combustion engines "for a very long time" even with the rise of EVs. Read the original report.
Wealth
Two studies have raised new questions about the size and impact of the coming great wealth transfer. Read the original report.
Summer charters in the Med are down 20% to 30% from last year, yacht brokers say, with a growing number offering special discounts for July and August. Read the original report.
The major auction houses racked up nearly $10 billion in sales in the first half, marking one of the strongest-ever starts to the year. Read the original report.
DAFs are gaining in popularity as private firms like Anthropic and OpenAI skyrocket in value and more companies stay private for longer. Read the original report.
The sale of the Amadea caps a turbulent and controversial history for the 348-foot yacht, which was seized from a sanctioned Russian oligarch. Read the original report.
Rockstar Energy founder Russ Savage told CNBC he now controls 12 million shares of Celsius Holdings, amounting to roughly 4.7% of the energy drink company. Read the original report.
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. President Donald Trump’s proposed $5 million “gold card” for U.S. residency would be one the most expensive in the world, according
A Gucci luxury goods store in the Galleria Vittorio Emanuele shopping mall in Milan, Italy. Bloomberg | Bloomberg | Getty Images Europe’s troubled luxury sector is showing signs of revival after an upbeat earnings season. But continued weakness in China — and the prospect of U.S. tariffs — could leave even the most exclusive brands
A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty Images Shares of Kering popped on Tuesday after the French luxury goods firm reported better-than-expected fourth-quarter sales that were nevertheless down year-on-year amid lagging demand for its main Gucci label. The
In this article MC-FR Follow your favorite stocksCREATE FREE ACCOUNT After a year of declines, sales of watches and jewelry at luxury giant LVMH rebounded in the latest quarter and continued to shine into January, according to several of the company’s brand CEOs. In its earnings call this week, LVMH reported that sales for its
A photograph taken on April 23, 2024 shows a view of the new Louis Vuitton luxury shop belonging to French luxury group LVMH Moet Hennessy Louis Vuitton SA, on the Champs Elysee avenue in Paris. Julien De Rosa | Afp | Getty Images Shares of LVMH dropped 5% on Wednesday after slightly better-than-expected annual results
A print copy of “The 38 Letters from J.D. Rockefeller to his son: Perspective, Ideology and Wisdom” purchased on Amazon. CNBC The mystery around a top-selling Amazon book attributed to John D. Rockefeller has grown to include a university publisher, which denies any involvement in the book despite being listed as it’s publisher. CNBC began
A Louis Vuitton storefront in San Diego, California. Kevin Carter | Getty Images News | Getty Images The world’s largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector. The owner of brands including Louis Vuitton, Moët & Chandon and Hennessy posted
Shoppers walk into a Burberry store at Fashion Valley, an upscale shopping mall on December 13, 2024 in San Diego, California. Kevin Carter | Getty Images News | Getty Images Shares of Burberry jumped as much as 16% on Friday after the company reported a shallower-than-expected dip in sales in the fiscal third quarter, providing
Shoppers pass a Cartier luxury store, operated by Cie. Financiere Richemont SA, in the Galeries Lafayette SA luxury department store in Paris, France. Bloomberg | Bloomberg | Getty Images Cartier owner Richemont on Thursday reported a 10% increase in fiscal third-quarter sales even as China demand weighed, in a positive signal for the health of
Courtesy: J.P. Morgan Private Bank J.P. Morgan Private Bank is out with its list of recommended holiday books and experiences for wealthy clients, and this year’s offerings include a George Clooney Broadway debut, an expanded art museum in São Paulo, Brazil, a wellness center in Manhattan and books about leadership and artificial intelligence. The “NextList2025,”
Alice Walton speaks onstage during the Getty Medal Dinner 2022 at Getty Center on October 03, 2022 in Los Angeles, California. Stefanie Keenan | Getty Images Entertainment | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to
Italian visual artist Maurizio Cattelan’s duct-taped Banana entitled “Comedian,” is on display during a media preview at Sotheby’s in New York, on November 8, 2024. Kena Betancur | Afp | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and
Guillaume Houze attends the 33rd ANDAM Prize Winner cocktail at les Jardins du Palais Royal on June 30, 2022 in Paris, France. Pascal Le Segretain | Getty Images Entertainment | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and
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