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
Wealth
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,