Wealth – Page 4 – wall street review

Andrew Ross Sorkin
October 20, 2025
0 Comments
4 minutes Read

As secondhand luxury soars, authentication becomes a new gold standard

The global secondhand luxury market is rapidly growing, with predictions of reaching $360 billion by 2030. Authentication is vital as counterfeit goods become increasingly sophisticated. Platforms like Carousell and Bunjang are investing in advanced verification methods, fueling sales. Younger consumers view secondhand luxury as a core fashion interaction, prioritizing affordability and unique items.

Wealth

Andrew Ross Sorkin
October 17, 2025
0 Comments
6 minutes Read

Few heirs keep their parents’ wealth advisors — most wealthy benefactors don’t mind

Over the next 25 years, an estimated $120 trillion will be inherited, yet only 27% of heirs plan to retain their benefactor’s advisor. Many prefer their own, highlighting a generational gap in wealth management. Communication and education about estate planning are crucial for advisors to engage heirs and ensure smooth wealth transitions.

Wealth

Andrew Ross Sorkin
October 14, 2025
0 Comments
4 minutes Read

A rare platinum Rolex is heading to auction and could fetch $1.7 million

A rare platinum Rolex Daytona from 1999 will be auctioned at Sotheby’s Geneva, potentially fetching $1.7 million. Only four were made for a client, with this being the last for sale. Its unique features, historical significance, and luxury status make it a highly sought-after item in the collectors’ market.

Wealth

Andrew Ross Sorkin
October 14, 2025
0 Comments
6 minutes Read

The wealthy can’t find enough people to manage their money. Here’s why

The global family office sector is rapidly expanding, expected to grow from 8,030 offices managing $3.1 trillion to over 10,700 with $5.4 trillion by 2030. However, there’s a significant talent shortage, especially as firms prioritize trust and personal relationships over experience, complicating recruitment and retention efforts in a competitive market.

Wealth

Andrew Ross Sorkin
October 14, 2025
0 Comments
4 minutes Read

The wealth of the top 1% reaches a record $52 trillion

In Q2 2025, America’s wealthiest households gained $5 trillion, with the top 10% now worth $113 trillion. The stock market significantly boosts their wealth, contrasting with modest gains for lower-income groups. Economists warn this concentration creates a fragile economic balance, risking severe repercussions if market values decline.

Wealth

Andrew Ross Sorkin
October 14, 2025
0 Comments
3 minutes Read

How Ares is capitalizing on the ‘retail revolution’ in alternative assets

Ares Management raised its three-year fundraising target by 25%, indicating confidence in retail investor interest. CEO Michael Arougheti highlighted the shift in capital flow toward individual investors, with Ares managing over $50 billion in assets for this sector. Concerns about quality deals for retail investors were dismissed, as Ares emphasizes equal treatment across investor types.

Wealth

Andrew Ross Sorkin
October 14, 2025
0 Comments
3 minutes Read

Embattled Burberry to cut 1,700 jobs amid turnaround

Burberry has initiated significant organizational changes under CEO Joshua Schulman’s turnaround plan, potentially affecting 1,700 roles by 2027 to cut costs and streamline operations. Despite a 12% sales drop, investor optimism remains, with stock surging 17%. Analysts question the turnaround speed amid a challenging market and shifting consumer trends.

Wealth

Andrew Ross Sorkin
October 14, 2025
0 Comments
2 minutes Read

Cartier owner Richemont posts earnings beat as shoppers splurge on jewelry despite luxury slowdown

Richemont, Cartier’s parent company, reported better-than-expected fourth-quarter earnings, with revenues rising 7% year-over-year to 5.17 billion euros. This growth was primarily driven by its Jewellery Maisons, despite a decline in the watchmaking division due to weaker demand in Asia-Pacific, particularly China. Overall, full-year sales increased 4%.

Wealth

Andrew Ross Sorkin
October 13, 2025
0 Comments
4 minutes Read

Wealthy shoppers are splashing the cash on jewelry — so long as it’s the right brand

Despite a general slowdown in luxury spending, Richemont thrives in the high-end jewelry market, driven by brands like Van Cleef & Arpels and Cartier. While its watch division faces declines, the company’s jewelry sales surged 11%, highlighting a shift toward exclusivity. Analysts remain cautious about broader economic challenges affecting profitability.

Wealth

Andrew Ross Sorkin
October 13, 2025
0 Comments
4 minutes Read

Shares of Gucci-owner Kering pop 10% on reports Renault’s de Meo to be next CEO

Kering’s shares rose nearly 10% after announcing Luca de Meo as the new Group CEO, following his resignation from Renault. Analysts view his expertise in brand management as beneficial amid Kering’s struggles, especially with Gucci. However, revitalizing luxury brands remains complex, requiring significant effort to regain consumer appeal and profitability.