millionaires

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New Private-Equity Gold Mine: Heating and Plumbing

Wall Street Journal reports on how small HVAC and trade companies are being scooped up

(Newser) - The Wall Street Journal reports that a "new class of millionaires" is rising in America, and it has nothing to do with hedge funds or Silicon Valley. Instead, this one centers on plumbers, electricians, and HVAC technicians—specifically, those who started their own small shops in years past. It...

Owning vs. Renting? American Views May Be Shifting

Even millionaires who could afford to buy are opting to sign a lease instead

(Newser) - Soaring home prices have left many Americans of ordinary means out of the picture when it comes to real estate. But a Wall Street Journal story finds that more millionaires are choosing renting over owning as well:
  • The share of households with incomes above $750,000 that rent rose to
...

Elite Group of 401(k) Holders Breaks a New Record

Fidelity says there are more '401(k)-created millionaires' than ever in the US

(Newser) - Got a retirement plan in the seven figures? Consider yourself among a record-breaking group: A new report from Fidelity Investments says there are more US participants in 401(k) plans with balances over $1 million than ever, though the stats show that most Americans are "woefully unprepared" for their retirement...

When It Comes to Wealth, There's No 'Happiness Plateau'

Money does indeed buy happiness, and the more, the better, per new research

(Newser) - "Does money buy happiness?" is one of our most-asked existential questions, and not only does Matt Killingsworth believe the answer is a resounding "yes"—he says the more you have, the happier you may be. According to new research by the senior fellow at UPenn's Wharton...

The 'US Wealth Machine' Got a Big Boost in 2023

New Capgemini report says the US added 600K millionaires to its ranks in 2023

(Newser) - The United States welcomed a whole lot of affluence into its midst in 2023—600,000 new millionaires, give or take. That's per Capgemini's latest "World Wealth Report," which CNBC notes shows the US "far [outpacing] the rest of the world in minting millionaires last...

Report: Record Number of US Millionaires Seek 'Escape Plan'

But US remains a top destination for wealthy migrants

(Newser) - Henley & Partners is a company that specializes in helping wealthy people move to different countries—and business is booming. A company report says 120,000 high-net-worth individuals changed countries in 2023, up from 51,000 a decade earlier, Quartz reports. The company, which defines a high-net-worth person as somebody...

50-Somethings in America Are Reaching a 'Mythical Status'

Per 'USA Today,' average US household of 50-somethings are now millionaires

(Newser) - Last fall, Fortune made the somewhat surprising revelation that, per the Federal Reserve, the average American household is made up of millionaires. Specifically, the Fed's consumer finance survey noted that, adjusting for inflation, the mean net worth of US households was $1.06 million—a big jump from the...

He Lived a Quiet Life in a NH Trailer, Also Had a $4M Secret

Geoffrey Holt leaves it all to small town of Hinsdale after his death

(Newser) - Geoffrey Holt was unassuming as the caretaker of a mobile home park in Hinsdale, New Hampshire, where he lived a simple but curious life. Residents would see Holt around town in threadbare clothes—riding his lawn mower, headed to the convenience store, parked along the main road reading a newspaper....

Millionaires Feel Like They're Just Middle Class These Days

Only 8% of those with at least $1M consider themselves wealthy, per new survey

(Newser) - A million dollars just doesn't stretch the way it used to. So say all the millionaires who now place themselves squarely in the "middle class" category, according to a new poll from Ameriprise Financial. In the survey of more than 3,000 US adults, nearly 600 were found...

Tycoon Says 270K Aussies Need to Lose Their Jobs

Multimillionaire Tim Gurner courts controversy in saying workers need to be shown their place

(Newser) - One of Australia's richest men has apologized after calling for 270,000 job losses to show workers their place. Gurner Group founder and CEO Tim Gurner, a multimillionaire real-estate tycoon, was speaking at the Australian Financial Review's property summit on Tuesday when he said workers have become "...

State's Millionaire Tax to Pay for Free School Lunches

$172M of $1B revenue to be used to feed public school students in Massachusetts

(Newser) - Every public school student in Massachusetts will enjoy free school lunches owing to a new millionaire tax. Passed by voters in November and instituted at the start of this year, the 4% tax on earnings above $1 million will account for $1 billion of the state's $56 billion 2024...

Persistent Millionaire Takes Tough Test 27 Times, to No Avail

Since first test in '83, he hasn't seen a satisfactory score on China's grueling college-entrance exam

(Newser) - Whether it's stress, lack of knowledge, or freezing in the moment, Liang Shi has not been able to achieve a satisfactory score on the gaokao, China's grueling college-entrance exam. It's not for lack of trying: The 56-year-old millionaire has taken the test more than two dozen times...

Stacey Abrams Turns Her Personal Finances Around

Georgia Democrat, who had little money before 2018 run, is now a multi-millionaire

(Newser) - When Democrat Stacey Abrams first ran for Georgia governor in 2018, her lackluster personal finances and a hefty bill from the IRS gave Republicans fodder to question how she could manage a state budget when she struggled with her own debts. As she launches a second bid this year, that'...

There Was Snag After Snag in Millionaire's Plot of Kidnap Wife
Millionaire's Plot to Kidnap Wife
Ends With 2 Drownings
in case you missed it
Aug 1, 2021 12:30 PM CDT

Millionaire's Plot to Kidnap Wife Ends With 2 Drownings

Pair of men hired to kidnap woman jumped into canal during police chase

(Newser) - A Louisiana millionaire is facing up to 35 years in prison after plotting to kidnap his estranged wife at gunpoint. Lawrence Handley's plan did not go at all as he expected. After the two men he hired to kidnap his wife from the couples' south Lafayette home handcuffed her,...

He's Down to Last 2 Guesses to Access $240M in Bitcoin
He's Down to Last 2 Guesses
to Access $240M in Bitcoin
in case you missed it
Jan 17, 2021 12:45 PM CST

He's Down to Last 2 Guesses to Access $240M in Bitcoin

'New York Times' looks at the problem of owners who have forgotten their passwords

(Newser) - It sucks when you can't remember your password to, say, your Amazon.com or Venmo account. It really sucks when the code that's right on the tip of your brain is keeping you from accessing millions of dollars' worth of bitcoin—and if you guess wrong too many...

'Speed Freak' Dies When Car Flips in Harrowing Accident

Zef Eisenberg was only 47

(Newser) - A man who liked driving at incredibly fast speeds died Thursday while trying to set the British land speed record, the BBC reports. Zef Eisenberg, the millionaire founder of a sports nutrition company, was killed in York, England, when his Porsche 911 Turbo S went off the runway at Elvington...

Likely Coming Soon to NJ: a Millionaires Tax

Gov. Phil Murphy's proposal to hike taxes for the rich will likely pass state Legislature

(Newser) - In what's being called a "historic win for the middle-class," a proposal has been OKed by top New Jersey state Democrats to hike taxes on the rich. The plan, announced Thursday by Democrats Gov. Phil Murphy, Senate President Steve Sweeney, and Assembly Speaker Craig Coughlin, would raise...

Cops on Tycoon's Missing Wife: 'Clearly Planned Deception'

Norway's Tom Hagen arrested on suspicion of murdering spouse, who vanished in 2018

(Newser) - One of Norway’s wealthiest men was arrested Tuesday in connection with his wife's 2018 disappearance and held on suspicion of murder or complicity to murder in a case that police had earlier thought was a kidnapping. Tom Hagen, a real estate investor and owner of an electric company,...

'One of Canada's Most Gruesome Killings' Ends in Surprise Verdict

Zhao Li escapes murder ruling, found guilty of manslaughter instead

(Newser) - A two-year-plus trial that drew much media attention has ended in Canada, with a verdict that's shocked many. On Tuesday, a judge on British Columbia's Supreme Court found 59-year-old Zhao Li guilty not of murder, but of manslaughter for killing and dismembering his millionaire cousin, 41-year-old Gang Yuan,...

Multimillionaire Invites 10 People to Come Live in 'Paradise'

Karl Reipen places ad regarding his New Zealand estate

(Newser) - Looking to permanently while away your days overlooking the Tasman Sea and sipping on vino while watching "nice animals" with other "nice people"? Karl Reipen wants to hear from you. The Guardian reports the German multimillionaire has placed an ad seeking 10 people up to age 70...

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