Wealth

Kzenon | Getty Images If Amazon CEO Jeff Bezos were to unexpectedly die today, Washington state could expect an estate tax windfall of nearly $12 billion, raising its total annual revenue by more than 50% for a single year. That’s according to a new study on the costs and benefits of an estate tax to

Jose Luis Pelaez Inc | DigitalVision | Getty Images We are tasked today with making many financial decisions, from managing our student loans to contributing to retirement accounts. Plus there’s paying credit card debt on time and keeping our credit score as high as possible. All of these are important, because our financial future is

Barry Sternlicht, co-founder of the privately held Starwood Capital global investment firm, believes a wealth tax, as envisioned by Democratic presidential candidates Elizabeth Warren and Bernie Sanders, would not be feasible. “I think it’s a crazy idea,” Sternlicht said on CNBC’s “Squawk Box” on Friday. The wealth tax from Sanders, a Vermont democratic socialist, would

Billionaire investor Leon Cooperman slammed Democratic presidential candidates Elizabeth Warren and Bernie Sanders on their proposals to put an additional tax on the richest Americans. “Stop portraying billionaires as criminals,” Cooperman said on CNBC on Wednesday, the morning after Warren and Sanders in the latest Democratic debate cast themselves as the hardliners on tacking wealth

Facebook’s CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California. Justin Sullivan | Getty Images There are 618,000 millennial millionaires in the U.S. and their wealth is only expected to grow. Millennials are expected to be five times wealthier in the next decade than they are

Sen. Elizabeth Warren (D-MA) speaks during the Democratic Presidential Debate at Otterbein University on October 15, 2019 in Westerville, Ohio. A record 12 presidential hopefuls are participating in the debate hosted by CNN and The New York Times. Win McNamee | Getty Images Sen. Elizabeth Warren may have a new slogan: “Where’s the beef?” During

The ideal tax rate for the richest 1% of Americans is about 75% — more than twice the current rates, according to the economist advising Sen. Elizabeth Warren on her tax plans. Gabriel Zucman, the University of California at Berkeley economist who is advising Warren and Sen. Bernie Sanders on their wealth tax proposals, told

Any average millionaire or billionaire can buy a Ferrari. But only a select group gets the privilege of buying a fully customized one — an honor that is becoming big business for the Italian carmaker. Ferrari this month opened its third “tailor made center” in the world, a 6,600-square-foot showroom on Manhattan’s Park Avenue that

John Hope Bryant, an advocate of economic empowerment through Operation Hope, wants Democratic presidential candidates Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., to know that he would not have been successful without capitalism. “I think Bernie and Elizabeth mean well,” Bryant said on CNBC on Monday, regarding their criticism of how capitalism has led to

It’s hard to save money these days. Interest rates are really low, which is great if you’re borrowing to buy a house or a car, but not ideal if you’re looking to save. The interest rate for the typical U.S. savings account is .09%, for example. But, a group of tech companies, including Credit Karma,

The Royal Mint’s Raris payment card is made from 18-karat gold. The Royal Mint Britain’s Royal Mint has produced a solid gold payment card — and you’ll need to fork out £18,750 ($23,460) to buy one. The government-owned company, responsible for minting coins for the U.K., said it partnered up with Mastercard and payments technology

David Rea, president of No. 1-rated financial advisor firm Salem Investment Counselors, attributes his start in the business to excellent professors at Indiana University while he was pursuing an MBA. Salem Investment Counselors Everyone loves a good origin story, whether it’s fictional, like Superman’s, or real life — think Warren Buffett or Steve Jobs —

Elizabeth Holmes, founder and CEO of Theranos. David Orrell | CNBC Elizabeth Holmes, who once presided over blood-testing startup Theranos which was valued at $9 billion, can’t pay her legal bills in a class-action civil suit, according to her lawyers in the case at the law firm Cooley LLP. Cooley is handling a class-action civil

It has become the two-word rallying cry at Sen. Elizabeth Warren presidential campaign events: “Two cents! Two cents!” Warren’s wealth tax, which taxes wealth over $50 million at 2%, has quickly become the energizing force of her campaign and helped propel her rise in the polls. Her surge not only speaks to the popularity of

Microsoft came out with major announcements this week, and possibly its biggest hardware risks since Xbox. The Surface Neo, which has two screens with a hinge in between, is coming next year. Plus, the Surface Pro X, is arguably the first ARM-based computer to run full Windows 10. Has Microsoft changed the game here? Or are

A gallery assistant poses with an artwork entitled ‘Devolved Parliament’ by British artist Banksy, during a press view in London on September 27, 2019, ahead of Sotheby’s contemporary art sale, as part of the Frieze Art Fair. Tolga Akmen | AFP | Getty Images A Banksy painting depicting primates conducting business as usual in British

Elizabeth Holmes leaves a federal courthouse in San Jose. Meghan Mariani Defense attorneys for former Theranos CEO Elizabeth Holmes and Sunny “Ramesh” Balwani criticized prosecutors Wednesday for stalling to turn over what they call key documents that would clear their clients. “The evidence produced so far confirms our belief that certain documents directly contradict allegations

CNBC’s Jim Cramer believes Wall Street should be much more afraid of Bernie Sanders in the White House of than of Elizabeth Warren. Vermont Sen. Sanders, who describes himself as a Democratic socialist, wants to “make people who are billionaires lower than billionaires,” Cramer said on “Squawk on the Street” on Wednesday. Sanders is “basically

Wall Street’s abject fear of Democratic Sen. Elizabeth Warren getting into the White House is a mistake, CNBC’s Jim Cramer said Tuesday. “The fear of Sen. Warren is getting overblown,” Cramer said on “Squawk on the Street,” three weeks after he said that financial industry CEOs were telling him that “she’s got to be stopped.”

Sen. Bernie Sanders Monday proposed an “inequality tax” that would hit McDonald’s, J.P. Morgan and Walmart especially hard, according to the Sanders campaign. The presidential candidate announced Monday a proposed tax on companies with a large gap between the CEO’s pay and the median salary of its workers. “It is time to send a message