Hacker News with Generative AI: Wealth

In Farewell Address, Biden Warns of an 'Oligarchy' Taking Shape in America (nytimes.com)
President Biden on Wednesday warned that an “oligarchy” of the ultrawealthy was emerging in America, sounding the alarm about unchecked power as he gave a farewell speech to the nation just days before he surrenders office to a man he disdains.

Politics, United States, Inequality, Wealth

9 points by whack 1 day ago | 0 comments

Ask HN: Would you make every country have a wealth tax like Sweden used to (ycombinator.com)
I know that Sweden abolished it in 2007 because so many companies / individuals left Sweden, however, if there was a button that reinstated it for EVERY country in the world, would you press it and why/why not?

Taxes, Economics, Wealth, Politics, Global Policy

8 points by upmind 4 days ago | 42 comments

Richest People Surpassed $10T in Wealth This Year (bloomberg.com)
The world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined $10 trillion net worth.

Wealth, Billionaires, Finance, Economics

14 points by madihaa 13 days ago | 0 comments

I am rich and have no idea what to do (vinay.sh)
Life has been a haze this last year. After selling my company, I find myself in the totally un-relatable position of never having to work again.

Wealth, Personal Finance, Lifestyle

967 points by vhiremath4 15 days ago | 1628 comments

Richest people surpass $10T in wealth in 2024 (ocregister.com)
The world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined $10 trillion net worth.

Wealth, Billionaires, Finance, Economy

37 points by GeoAtreides 16 days ago | 7 comments

The science behind winning a Nobel Prize? Being a man from a wealthy family (theguardian.com)
A lot of talent is wasted in a world where more than half of laureates come from households in the richest 5%

Nobel Prize, Inequality, Science, Gender Bias, Wealth

7 points by xqcgrek2 40 days ago | 3 comments

How One of the Richest Men Is Avoiding $8B in Taxes (nytimes.com)
The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.

Taxes, Wealth, Business, Finance, Law

12 points by wslh 43 days ago | 4 comments

Gen Z's definition of financial success includes joining the top 1% (fortune.com)
According to a recent survey from financial firm Empower, Gen Zers on average believe an annual salary of $587,797 and net worth of $9.47 million are needed when they envision “financial success.”

Gen Z, Finance, Wealth, Millennials, Survey

14 points by paulpauper 49 days ago | 12 comments

America's billionaires are worth a record $6T (usatoday.com)
America’s billionaires are now collectively worth a record $6 trillion. Their wealth has more than doubled since the passage of the landmark Tax Cuts and Jobs Act in 2017.

Economy, Wealth, Billionaires, Taxes

9 points by paulpauper 66 days ago | 3 comments

Top Billionaires make nearly $64B in post-Trump election stock surge (theregister.com)
Yesterday's stock market bounce after the election of Donald Trump has added billions to the pockets of the tech elite, although apparently Mark Zuckerberg failed to cash in.

Politics, Business, Wealth

24 points by rntn 71 days ago | 60 comments

Record numbers of wealthy Americans are making plans to leave US after election (cnbc.com)

Politics, Wealth, Immigration, United States

15 points by ivewonyoung 77 days ago | 7 comments

TikTok founder becomes China's richest man (bbc.com)
The surging global popularity of TikTok has seen the co-founder of its parent company, ByteDance, become China's richest person.

TikTok, China, Wealth, Business, Social Media

4 points by peutetre 79 days ago | 0 comments

No More Tax-Free Lunch for Billionaires: Closing the Borrowing Loophole (taxnotes.com)
In this article, Fox and Liscow propose a tax on billionaires that would apply to borrowing against assets and explain how it could be designed and how it relates to other wealth tax proposals, as well as potential critiques.

Taxes, Wealth, Finance, Law, Economics

83 points by tortilla 80 days ago | 44 comments

A Staggering Amount of Wealth Creation (awealthofcommonsense.com)
The Great Financial Crisis decimated the balance sheets of most Americans.

Finance, Economics, Wealth

7 points by wawayanda 93 days ago | 0 comments

The richest people borrow against their stock (2021) (forbes.com)
Many of the country’s richest people, including Elon Musk and Larry Ellison, borrow against their stock while avoiding capital gains taxes.

Finance, Wealth, Taxes, Business

137 points by CHB0403085482 94 days ago | 335 comments

Who died and left the US $7B? (sherwood.news)
It was the biggest estate-tax payment in modern history, but no one knew who made it. Then an anonymous phone call pointed to one man.

Taxes, Inheritance, Wealth, Mystery, US News

456 points by jsnell 101 days ago | 551 comments

Wealth = Have ÷ Need (sive.rs)
Not a new idea, but just another visualization and reminder.

Wealth, Economics, Visualization

24 points by soheilpro 112 days ago | 3 comments

If you're so smart, why aren't you rich? (2018) (technologyreview.com)
The most successful people are not the most talented, just the luckiest, a new computer model of wealth creation confirms. Taking that into account can maximize return on many kinds of investment.

Wealth, Success, Luck, Economics, Investment

61 points by jmsflknr 113 days ago | 73 comments

Behind Harris's Rise: Laurene Powell Jobs, Silicon Valley's Wealthiest Woman (nytimes.com)
The alliance between Kamala Harris and Laurene Powell Jobs is a genuine friendship that has thrust the press-shy billionaire philanthropist into the political spotlight.

Politics, Philanthropy, Silicon Valley, Wealth

5 points by ChrisArchitect 115 days ago | 1 comments

A day in Elon Musk's mind (theguardian.com)
A controversial tweet may make it to the news, but reading every post from the world’s richest man shows how frenzied and extreme he really is

Elon Musk, Social Media, Twitter, Wealth, Personality

11 points by hn1986 125 days ago | 11 comments

Silicon Valley's elite rattled by prospect of tax on unrealised gains (ft.com)

Silicon Valley, Taxes, Finance, Wealth

10 points by simonebrunozzi 133 days ago | 1 comments

Treasury recovers $1.3B in unpaid taxes from high-wealth tax dodgers (apnews.com)

Taxes, Finance, Wealth, Law Enforcement

29 points by MilnerRoute 133 days ago | 64 comments

The One-Eyed Man Is King: How did the monocle become a symbol of wealth? (2012) (slate.com)

History, Fashion, Wealth, Symbolism

24 points by Bluestein 134 days ago | 23 comments

How to Make Wealth as a Startup Founder (nishantsoni.com)