ultra-wealthy
Coverage of ultra-wealthy in the Nexus archive.
- Ultra-rich pull back from Dubai real estate
The ultra-wealthy are reducing investments in Dubai real estate due to the Iran war, causing a 54% drop in high-value home sales in Q2 compared to Q1. Dubai's tax-free status and residency visas previously attracted buyers from China, Europe, India, and Russia, but demand is now cooling across all property segments. Developers are slowing project timelines and announcing fewer new developments.
- The Swiss canton attracting Dubai's ultra-wealthy
The Swiss canton of Zug is attracting ultra-wealthy individuals from Dubai. The article references Zug, Switzerland, and mentions a date of April 28, 2022.
- Rich Californians deploy creative ways to get around hated billionaire tax – including giving cash away
California's ultra-wealthy are using legal strategies like accelerated charitable giving, delayed company funding rounds, and purchasing exempted real estate to reduce their reported net worth and avoid the billionaire tax. These methods are advised by tax professionals to navigate the state's financial regulations.
- NYC mansion asking record $85M finds a buyer — as the ultra-wealthy flock to homes of rare scale
A NYC mansion listed for a record $85 million has found a buyer as the ultra-wealthy increasingly seek out exceptionally large homes.
- New York Passes Tax on the Ultra-Wealthy
New York has passed a tax on the ultra-wealthy known as the 'Mamdani pied-à-terre tax.' The article and its associated comments are available at the provided URLs.
- 'We're taxing the rich': NYC Mayor Mamdani touts new $500M-a-year tax on luxury second homes
New York City Mayor Zohran Mamdani and Governor Kathy Hochul announced a $500 million annual tax on luxury second homes valued at $5 million or more, targeting non-residents. The tax aims to fund initiatives like free childcare and public services, with Mamdani emphasizing it as a step toward fairness for working New Yorkers.
- 'We're taxing the rich': NYC Mayor Mamdani touts new $500M-a-year tax on luxury second homes
New York City Mayor Zohran Mamdani and Governor Kathy Hochul announced a new $500 million annual tax on luxury second homes valued at $5 million or more, targeting non-resident ultra-wealthy individuals. The tax aims to fund city services like policing, parks, and free childcare, with Mamdani emphasizing it as a step toward fairness for working New Yorkers.