High Net Worth Individuals
Patagonia Founder Gives Away the Company to Fight Climate Change
A half century after founding the outdoor apparel maker Patagonia, Yvon Chouinard, the eccentric rock climber who became a reluctant billionaire with his unconventional spin on capitalism, has given the company away. Rather than selling the company or taking it public, Mr. Chouinard, his wife and two adult children have transferred their ownership of Patagonia, […]
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Why Rotterdam Wouldn’t Allow a Bridge to Be Dismantled for Bezos’ Yacht
“When I was about 11 years old, we had an American boy stay with us for a week, an exchange student,” she recalled. “And my mother told him, just make your own sandwich like you do in America. Instead of putting one sausage on his bread, he put on five. My mother was too polite […]
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How Wall Street Escaped the Crypto Meltdown
Only a small subset of Goldman’s clients qualified to buy investments linked to crypto through the bank, said Mary Athridge, a Goldman Sachs spokeswoman. Clients had to go through a “live training” session and attest to having received warnings from Goldman about the riskiness of the assets. Only then were they allowed to put money […]
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Sun Valley Conference 2022: When Private Jets Land in Small-Town Idaho
HAILEY, Idaho — Robert Kraft, the owner of the New England Patriots, flies in a Gulfstream G650. So do Jeff Bezos and Dan Schulman, PayPal’s chief executive. The jets, roughly 470 of which are in operation, retail for about $75 million each. Most days, those planes are spread out, ferrying captains of industry to meetings […]
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Crypto Crash Widens Divide Between Rich and Amateur Traders
ENGLEWOOD, Colo. — The cryptocurrency market was in ruins. But Tyler and Cameron Winklevoss were jamming. The billionaire twins, best known for their supporting role in the creation of Facebook, twirled and shimmied across the stage with their new cover band, Mars Junction, at a concert venue outside Denver last week, the latest stop on […]
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The Pandemic Flight of Wealthy New Yorkers Was a Once-in-a-Century Shock
The outlook for this year has become much less certain as the stock market has plummeted in recent months and certain forms of federal aid, like stimulus checks and expanded unemployment benefits, have ended. The city’s Independent Budget Office said it was not possible to calculate the tax revenue lost from the people who had […]
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DUI Arrest of Nancy Pelosi’s Husband Illuminates the Speaker’s California Life
Speaker Nancy Pelosi had just urged Brown University graduates to stay resilient and summon their “better angels” on Memorial Day weekend when she was forced to turn her attention to a less uplifting situation: her husband’s arrest in California. The details emerging from the incident were not especially flattering. The night before, May 28, Paul […]
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At Davos, a Referendum on the World Economic Forum
The small ski town of Davos, high in the Swiss alps, has heightened security measure in place during the annual meeting of the World Economic Forum, when armed guards perch on hotel rooftops while world leaders and business executives sip champagne below. Yet today, everything that Davos stands for — globalization, liberalism, free market capitalism, […]
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The Rich Are Not Who We Think They Are. And Happiness Is Not What We Think It Is, Either.
From this, they built a sample of more than three million data points, orders of magnitude more than previous studies on happiness. So what do three million happiness data points tell us? The activities that make people happiest include sex, exercise and gardening. People get a big happiness boost from being with a romantic partner […]
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