Wealth

Khoshbin fueling up his Agera RS Phoenix @mannykhoshbin on Instagram When California real estate investor Manny Khoshbin spent $2.2 million on the fastest street-legal car in the world, he had no idea it would also become the fastest-appreciating asset he’d ever own. “Quickest $1.9 million I ever made,” Khoshbin told CNBC. Khoshbin is an Instagram
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When celebrity plastic surgeon Raj Kanodia started building his 34,000-square-foot mansion to flip for a profit, his real estate friends gave him a warning. “They said, ‘You’re way out of your league,'” Kanodia recalled. “They told me, ‘You’ll run out of money and you’ll be forced to sell it to service your debts.'” Four years
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Jonya | Getty Images Economic optimism among young people is at record lows around the world, according to a new research. Deloitte’s 2019 Millennial Survey, published Monday, found that younger generations are not particularly satisfied with their financial situations, jobs, or governments. Researchers from the management consultancy surveyed 13,416 millennials across 42 countries and 3,009
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With 401(k) balances near all-time highs, retirement savers are probably feeling pretty good about themselves these days. The first part of this year saw record contributions, thanks, in part, to a strong stock market, according to Fidelity, the nation’s largest provider of 401(k) plans. Eventually though, savers will have to take distributions from those accounts.
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Alys Tomilson | Getty Images Student loans aren’t the reason there’s a student debt crisis in this country. The real problem is that there’s not adequate education, information or support systems in place to help students (and their families) make smarter college choices while they are still in high school. Nationwide, college student loan debt
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Bloomberg | Getty Images Amid concerns about trade wars and political dysfunction, the wealthiest investors are padding their cash cushions. Members of TIGER 21, a group of more than 600 individuals with at least $10 million to invest, increased their allocation toward cash and cash equivalents to 12% from 10% during the first quarter, according
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Millennials have hugely unrealistic expectations about when and how much they will inherit, according to new research. According to the investment management firm Charles Stanley, millennials expected to be left an average £129,380 ($168,450) – but official statistics showed that the average inheritance in the U.K. is currently £48,000, while the median inheritance is £11,000.
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Barry Sternlicht Cameron Costa | CNBC Questions raised by progressives in the 2020 presidential race about whether capitalism still works for America reflect mistaken beliefs about how prosperity is created, global investor Barry Sternlicht told CNBC on Tuesday. “The left does not understand that companies need to make money in order to invest in new
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Officials from the FBI and U.S. Attorney’s office in Florida have been interviewing customers of JetSmarter about the private jet company’s business practices and communications, according to JetSmarter customers. The scope and nature of the inquiries are unclear. In a statement to CNBC from JetSmarter and its new owner Vista Global, the company denied JetSmarter
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Billionaire philanthropist and former tech executive Melinda Gates is urging parents in the United States to vaccinate their children because it “saves lives.” In an interview with CNBC’s Becky Quick that aired Wednesday, Gates said she is “very frustrated” by the growing misinformation efforts of anti-vaccination activists, a vocal fringe in the U.S. who oppose
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Philanthropist Melinda Gates is calling on religious and political leaders to embrace the role that birth control can play in helping lift families out of poverty. “No country in the last 50 years has escaped poverty without making sure that women have access, voluntary access, to contraceptives,” the co-chair of the Bill & Melinda Gates
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