Wealth

In a bid to reimagine the efficacy of tax collection, the IRS made headlines in 2024 when it hired Wesley Stanovsek, a talented accountant specializing in complex financial structures. The agency was armed with a staggering $80 billion from Congress, targeting the financial labyrinths of high-net-worth individuals. Stanovsek’s background in S-corporations and partnerships seemed perfect
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As global economic trends continue to intertwine, European luxury brands are positioned at a precarious crossroads. With recent U.S. tariff announcements giving rise to fears of an impending recession, the once-glimmering potential for recovery in the luxury sector has begun to fade. Companies like LVMH, Richemont, Kering, and Hermes, staples in high-end fashion, are now
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The announcement of President Donald Trump’s proposed $5 million “gold card” investment visa has stirred significant debate among immigration experts, high-net-worth individuals, and policymakers alike. Promising access to U.S. residency and a pathway to citizenship, this initiative stands poised to become one of the most lavish avenues for entry into the United States, a move
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In an impressive display of resilience, luxury fashion house Hermès delivered fourth-quarter sales that exceeded expectations, marking a remarkable 17.6% surge in revenues to reach 3.96 billion euros ($4.15 billion). Analysts had only anticipated revenues of 3.69 billion euros, highlighting Hermès’ ability to maintain desirability for its high-end products in a luxury market characterized by
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On a recent Tuesday, Kering, the illustrious French luxury goods conglomerate, unveiled its fourth-quarter sales results, which, while surpassing some analyst projections, were uninspiring in comparison to previous years. This highlights a troubling narrative for the iconic group, whose portfolio includes illustrious labels such as Gucci, Bottega Veneta, Balenciaga, and Alexander McQueen. The reported quarter’s
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