A rare pair of Nike “Moon Shoes” could fetch as much as $160,000 in an auction held by Sotheby’s. The New York auction house is allowing collectors to bid on an array of rare sneakers in a digital lot, dubbed “Stadium Goods: The Ultimate Sneaker Collection Online.” The “Moon Shoe” is estimated to reach a
krisanapong detraphiphat | Moment | Getty Images Once derided on the cover of Time magazine as the “Me Me Me Generation,” millennials have, in fact, become the “Owe Owe Owe Generation.” This group originally showed a healthy aversion to credit card debt. From 2008 to 2012, only 41% of those in their 20s had a
The wealth tax proposed by Sen. Elizabeth Warren has sparked a fierce — and increasingly personal — debate between the party’s traditional academic elite and the darlings of the new left. Lawrence Summers, the former Treasury Secretary and longtime economic guru of the Democratic party, published an op-ed in the Washington Post in April saying
Pennsylvania state capitol building John Greim/LightRocket | Getty Images It is not an easy time to be the treasurer of Pennsylvania. Joseph Torsella, a Democrat elected treasurer in 2016, has to cope with a simple fact of life: age. His politically important swing state has the sixth largest economy in the nation — but it
Christie’s A 3,300-year-old sculpture of Tutankhamen’s head sold for almost $6 million at auction, defying calls from Egyptian authorities for the artifact to be returned to its native country. Auction house Christie’s said the “rare, beautiful and important work” achieved a price of £4,746,250 ($5,968,058) in London on Thursday, where it was purchased by an
Chris Cline, owner of Foresight Energy LLC, poses for a portrait inside an elevator to the mine at Foresight Energy LLC’s Shay coal mine in Carlinville, Illinois, U.S., on Tuesday, June 21, 2010. Andrew Harrer | Bloomberg | Getty Images Billionaire West Virginia coal executive and philanthropist Chris Cline died in a helicopter crash Thursday,
In a field of 2020 Democratic presidential candidates with no shortage of money, Sen. Kamala Harris and her husband stand out. The California Democrat and her spouse, lawyer Douglas Emhoff, reported about $1.9 million in adjusted gross income for last year, according to tax returns released earlier this year. Their 2018 haul more than doubles
Islets along the west coast of Exuma, Bahamas De Agostini | Getty Images The island featured in promotional materials for the infamous Fyre festival has been listed for sale for almost $12 million. Fyre Festival, which took place in 2017, was publicized as a high-end music festival in the Bahamas. It was put together by
It’s really hard to put a dollar value on the data that anyone delivers internet platforms. What’s the value of a tweet? A Facebook profile that tells you the birthday your closest relatives? Democratic Sen. Mark Warner and Republican Sen. Josh Hawley want to require big tech companies to report the value of our data,
The AvalonBay Communities Park Loggia condominium, center, stands at 15 West 61 Street in New York, May 15, 2019. Mark Abramson | Bloomberg | Getty Images Sales of Manhattan properties jumped for the first time in a year and a half, but the good times aren’t likely to last. Real estate sales volume in Manhattan
“It’s a taboo topic,” said Cameron Huddleston, a personal finance journalist and author of “Mom and Dad, We Need to Talk. “ Huddleston was not referring to sex, as you might expect, but rather the other issue families avoid all too often – money. From wills to life insurance, the longer you wait, the trickier
Elizabeth Holmes leaves U.S. District court in San Jose after a judge delayed her trial Adriana Conte Theranos founder Elizabeth Holmes walked out of federal court on Friday with a delay in her criminal fraud trial until 2020 — but she wouldn’t say if she walked down the aisle. Widespread media reports this month claimed
Chateau d’Estoublon, Provence, France Airbnb The online property rental broker Airbnb has launched a new site dedicated to high-end listings that includes castles, entire villages, and beachfront villas in the U.S. or Caribbean. One listing – an entire medieval village in Buonconvento, Italy that can accommodate 44 guests – costs around $23,140 per night while
Some of America’s billionaires have a message for the next President of the United States: tax us. Nineteen billionaires including George Soros, Abigail Disney, Chris Hughes and members of the Pritzker family released a bipartisan letter on Monday asking the 2020 presidential candidates to support a tax on the American families with the largest fortunes.
Artist Jeff Koons with his 1986 sculpture “Rabbit,” which sold at auction this year for a record-setting $91.1 million. Steve Parsons – PA Images | PA Images | Getty Images Interest in collectibles is hitting new heights. “Rabbit,” a 1986 stainless steel sculpture by the artist Jeff Koons, sold to Robert E. Mnuchin, father of
Hero Images | Getty Images Brits under the age of 30 are spending less for “fun” than they did in 2001, according to researchers. A report published Thursday Resolution Foundation, a U.K.-based think tank, found that young adults’ real-terms spending on non-essentials dropped by 7% between 2001 and 2018. Meanwhile, 50 to 64-year-olds’ leisure spending
Businesses in Hong Kong may be moving out amid political uncertainty and massive protests in the city, members of the business community told CNBC. But one analyst said Hong Kong still holds an advantage over its rivals — its proximity to the mainland. “The real concern here, which we’ve seen slight signs of, is that
Donald Gruener | iStock | Getty Images Americans gave less to charity in 2018 than a year earlier, following changes in the tax law and fourth-quarter declines in the stock market, according to a new report. Charitable giving by individuals America fell 1.1% to $292 billion in 2018 compared with 2017, according to Giving USA.
The United States as a nation should provide monetary help to groups who have been “disproportionately discriminated against historically,” says former Facebook executive Chris Hughes, who has been working to reduce income inequality. The Facebook co-founder, a supporter of providing people in need with a basic income supplement, told CNBC’s “Squawk Box” he met Aisha Nyandoro, CEO of
Sotheby’s auction in Hong Kong. Anthony Wallace | AFP | Getty Images Sotheby’s auction house announced Monday that it has signed an agreement to be acquired by BidFair USA, a venture wholly owned by French media entrepreneur and art collector Patrick Drahi. Sotheby’s stakeholders will receive $57 per share in cash as a result of
Westend61 | Westend61 | Getty Images Going on a summer vacation this year? You’re in good company. Almost 100 million Americans, or 4 in 10 U.S. adults, will take a family trip in 2019, according to AAA. That’s up slightly from last year. Meanwhile, financial website Bankrate.com found in a March 2019 survey of 2,577
Democratic presidential candidate Senator Elizabeth Warren (D-MA) speaks at the Iowa Democratic Party’s Hall of Fame Dinner on June 9, 2019 in Cedar Rapids, Iowa. Scott Olson | Getty Images A majority of millionaires support Sen. Elizabeth Warren’s proposed tax on large wealth, according to a new survey. Fully 60% of millionaires support Warren’s plan
Former U.S. vice president and current presidential candidate Joe Biden speaks during a campaign stop at the IBEW Local 490 in Concord, NH on June 4, 2019. Matthew J. Lee | Boston Globe | Getty Images American millionaires would elect Joe Biden over President Donald Trump if the former vice president becomes the Democratic nominee,
Victorian homes and the downtown skyline in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Depending where you live, staying put in your home for the last two decades could be paying off well. As in really well. While the median nationwide home value is about 90% higher now than it was
Billy J. Hensley About this time each year, I expect the predictable articles proclaiming that personal finance education doesn’t work. Pundits point to poor proficiency in financial literacy “tests,” and programs that show minimal change in consumer’s behaviors to support their position. They assert this education is useless, ineffective and a waste of time, and
The Internal Revenue Service and the Treasury Department have issued final rules blocking certain states’ attempts to work around the new $10,000 cap for state and local tax deductions. After the Tax Cuts and Jobs Act in 2017 imposed a $10,000 limit on state and local tax deductions that itemizers could claim on their federal
Izabela Habur | Getty Images There have been plenty of reasons lately to worry about the market and economy, but among America’s wealthy fear is no way to manage money. Individuals with at least $1 million to invest in stocks and other assets have been doing a good job of tuning out all the noise,
Amazon has three people who hold the title of CEO. There’s Jeff Bezos, the founder and CEO. Then there are two deputies: Andy Jassy, the CEO of Amazon Web Services, and Jeff Wilke, CEO of global consumer. Wilke’s been with Amazon for 20 years, and now runs the core business of e-commerce and physical retail.
Stanley Druckenmiller Anjali Sundaram This is a developing story. Check back for updates. Longtime hedge fund manager Stanley Druckenmiller says stocks would plummet if Senator Bernie Sanders were elected president in the 2020 election. “If Bernie Sanders became president, I think stock prices should be 30% to 40% lower than they are now,” he said
Billionaire hedge fund manager Stanley Druckenmiller told CNBC on Friday that while the Trump administration’s tariffs may not appear that damaging on paper, their chilling effect on business sentiment could have an even greater impact on the economy and financial markets. “Animal spirits is something you can’t measure, but confidence matters,” he said on “Squawk Box.