Wealth

Sam Zell, the billionaire businessman and philanthropist, believes the wealth redistribution ideas of far-left Democrats, such as freshman firebrand Rep. Alexandria Ocasio-Cortez, won’t work because Americans would rather earn success than get handouts. “Everyone in America wants to be rich. Everybody in America wants to succeed,” Zell told CNBC on Wednesday. “That’s, by the way,
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Despite gains in income and wealth for black families in America, white families often have a net worth up to 10 times higher. Discriminatory financial practices such as redlining or credit discrimination have increased the wealth gap and held black families back from being able to create generational wealth. Times are changing. Black millennials are
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Warren Buffett said Monday that wealthy people pay lower taxes when compared to the rest of the United States population. “The wealthy are definitely undertaxed relative to the general population,” Buffett told CNBC’s Becky Quick on “Squawk Box.” Buffett’s comments come after Berkshire Hathaway released its fourth-quarter earnings and after Buffett put out his annual
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Billionaire investor Warren Buffett said on Monday that he finds stocks attractive for the long haul here, almost made a huge acquisition last quarter, and that bitcoin is a “delusion” in a wide-ranging interview with “Squawk Box” co-host Becky Quick from Omaha, Nebraska. Buffett, 88, explained why he tempered his buying when the market was
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There’s little question that technology is shaping the future of our work, our play and even how we form opinions. But who is shaping that technology? It’s been quite an economic run. The stock market has been climbing for a decade, and in that time, tech companies like Apple, Alphabet, Amazon and Facebook have gone
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Over the past century, hundreds of once-familiar brand names have been shipped off to the automotive scrapyard, but two long-dead makes will be vying for a revival next month at the annual Geneva International Motor Show. To find a place in a rapidly evolving auto industry, British-based Lagonda and Spain’s Hispano Suiza are looking forward
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Former Homeland Security chief Tom Ridge is now at the center of growing concerns over security and passenger screening at JetSmarter. Following a CNBC investigation into the company last month, JetSmarter, the Florida-based private jet start-up, sent an email to members highlighting its security policies, saying its “proprietary safety and security infrastructure on the ground
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Virgin Group founder Richard Branson is part of the growing circle of elite business players questioning wealth disparity in the world today. Amid heated debate about whether the rich should be more highly taxed, the billionaire philanthropist weighed in with his own view during the Milken Institute Summit in Abu Dhabi this week. “We have
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Chris Hughes, co-founder of Facebook and an advocate for wealth equality, told CNBC on Monday that he and other ultrawealthy Americans should be paying higher taxes to help make life better for everyone in society. “We have a free-rider problem. The top 1-percent — and even more specifically the top 0.1-percent, those with household wealth
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In a blog headlined “No thank you, Mr. Pecker,” Jeff Bezos claims David Pecker’s National Enquirer threatened to post sexual pictures that the Amazon CEO had texted to his mistress, Lauren Sanchez, including a “below the belt selfie.” In the blog post published Thursday, Bezos CEO accused AMI, the tabloid’s publisher, of blackmail and extortion.
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