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 —
Wealth
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
Arianna Huffington speaks onstage in “Digital Detox” on day 2 of POPSUGAR Play/Ground on June 10, 2018 in New York City. Brian Ach | Getty Images Entertainment | Getty Images When Arianna Huffington spoke at a women’s conference hosted by Alibaba and its co-founder Jack Ma, she wasn’t expecting career advice from Ma himself. It
Democratic presidential candidate Sen. Bernie Sanders (I-VT) (R) and Sen. Elizabeth Warren (D-MA) greet each other at the start of the Democratic Presidential Debate at the Fox Theatre July 30, 2019 in Detroit, Michigan. Justin Sullivan | Getty Images News | Getty Images Sen. Bernie Sanders unveiled a tax on wealth Tuesday as he aims
Amazon CEO Jeff Bezos announces Blue Moon, a lunar landing vehicle for the Moon, during a Blue Origin event in Washington, DC, May 9, 2019. Saul Loeb | AFP | Getty Images Jeff Bezos would pay about $9 billion in taxes this year under Sen. Bernie Sanders’ proposed wealth tax. As part of his primary campaign
Sen. Elizabeth Warren’s proposed wealth tax may create a new incentive for rich couples to divorce to avoid the tax. In a recent analysis of the Democratic presidential candidate’s signature tax, Harvard economist N. Gregory Mankiw said that because of the nature and structure of the tax, ultra-wealthy couples could split their fortunes in half through
California Governor Gavin Newsom signed a bill into law, AB5, that would force more companies to treat more workers as employees, not contractors. What’s the big deal? Whether it’s ride-sharing companies like Uber and Lyft, or delivery companies like Postmates, Doordash and Instacart, a slew of companies have grown up in the smartphone era with
Billionaire Robert Smith said young Americans need a better understanding and appreciation of capitalism, as wealth and success come under attack on the Democratic campaign trail. “This country needs to make sure that our young people understand the importance of capitalism,” he told CNBC. Smith was in New York to celebrate the IPO of Ping
Like vast wealth, the view from the 123rd floor of the tallest apartment building in the world can quickly warp your perspective on life. At nearly 1,400 feet, looking down on the Empire State Building, you aren’t just above New York City – you lord over it. Cars become toys and people become dots. Central
Bill Gates Chesnot/Getty Images Bill Gates is not taking a defensive approach with his billions of dollars of wealth. The founder of Microsoft added $16 billion to his net worth this year, despite giving away over $35 billion to charity, according to Bloomberg. That brings Gates’ total wealth to $106 billion, the second largest fortune
French economist Thomas Piketty poses during a photo session in Paris on September 10, 2019. Joel Sagat | AFP | Getty Images A popular French economist says billionaires are harmful to economic growth and would be effectively abolished under his tax plan, according to an interview. Thomas Piketty, whose 2013 book on inequality, “Capital in
Apple‘s iPhone extravaganza is still the biggest product event of the year for a simple reason: The iPhone remains the single most successful hardware product of the PC era. So what happened this week? Three new iPhones were announced: The iPhone 11, 11 Pro and 11 Pro Max. A new Apple Watch with a screen
T. Boone Pickens, the wildcatter “Oracle of Oil,” hedge fund founder and philanthropist who rewrote the playbook for corporate raiders, has died. He was 91. He died Wednesday of natural causes. Pickens had been in declining health, suffering from a series of strokes and a serious fall in 2017. In late 2017, he put his