When I first heard about a Lamborghini SUV, I thought it was the ultimate four-wheeled oxymoron. Like low-fat-ice cream or soft rock, Lambos and SUVs just didn’t belong together. It was bound to be the worst of both worlds — all the sloth of an SUV combined with the outlandish curves and price, starting at

An estate on Indian Creek Island sold for $50 million, making it the most expensive single-family home ever sold in the Miami area, according to people familiar with the deal. The property, at 3 Indian Creek Island Road, was not officially listed, but had sold in 2012 for $47 million. At the time, that marked

The streaming wars continue to revolutionize how consumers are able to get their content, making it easier than ever for people to enjoy movies. Platforms like Netflix, Hulu and YouTube are putting the pressure on theaters to find a way to keep customers to enjoy the movie going experience. One solution: Bring the subscription model

Apple this week pulled a Facebook app from the App Store. It’s called Facebook Research, and its purpose was to let Facebook watch everything that its users did on the phone. Apple says the snooping app is too invasive, even if users consented to letting Facebook watch their every move. That raises some questions. How

Turkish Airlines passengers with layovers of between six and 24 hours in Istanbul can show their boarding passes at the Hotel Desk and join a free highlight tour of the city. Separately, Korean Air’s Excellent Boarding Pass program offers a full week of perks in Korea to passengers who hold onto their international boarding pass

Super-wealthy investors are making some changes to their portfolios for 2019. They are increasing their cash holdings and reducing their equity exposure. They are also cutting back on some of their real estate investments and finding a “short-term solution” in fixed income, according to Michael Sonnenfeldt, founder of investment club Tiger 21. “There’s a lot

Wheels Up has hired bankers for “strategic initiatives” that could include acquisitions, the company’s CEO told CNBC. “We have hired advisors to assist us with our pursuit of strategic initiatives that include exploring acquisition opportunities and expansion of our digital platform,” Wheels Up CEO Kenny Dichter told CNBC in a statement Wednesday evening. “Our plan

Economist Larry Summers has advised Democratic presidents, but he’s not ready to jump behind Democratic Sen. Elizabeth Warren’s proposed wealth tax. Warren, of Massachusetts, is a prominent voice in the party’s liberal wing and is exploring a run for president. Her proposal, which she is calling an ultra-millionaire tax, would apply to Americans with more

A collection of skateboard decks sold at Sotheby’s Friday to a Vancouver collector for $800,000. Sotheby’s announced Friday morning that a young Vancouver collector, named Carson Guo, bought the set of 248 skate decks made by Supreme. The collection included all of the decks produced by Supreme between 1998 and 2018. It is the highest

Democrats have taken aim at the wealthy — and that has former Rep. Jeb Hensarling afraid of what could come. Hensarling, a Republican who represented Texas from 2003 to 2019, told CNBC on Tuesday that the move to slap more taxes on the rich by the left wing of the Democratic Party is all about

The game has changed. Not so long ago, a movie was valuable if it had a big showing at the box office, though there was the occasional film that did big rental business but didn’t do much in theaters. (For more on that, see the entire careers of Mary Kate and Ashley Olsen after Full

From Papa John’s to Uber, company CEOs are now under more scrutiny than ever before, particularly driven by technology. People now have the power and transparency to keep corporate leaders accountable in the social media era. So what should you do if your CEO screws up? Jon Fortt sits down with a panel of experts

You don’t have to drive luxury cars or vacation on a remote island to know your net worth. In fact, it’s a simple equation that says a lot about your financial standing — whatever that may be. “It’s the first snapshot into an overall look at your finances,” said Michael LaRiviere, a certified financial planner

Hedge fund billionaire Ken Griffin has just smashed another real estate price record, buying the most expensive home sold in London in over a decade for $122 million. Griffin, the CEO and founder of Citadel, bought a famed mansion near Buckingham Palace that was once home to Charles de Gaulle, according to a company spokesperson.

Investing in global health organizations aimed at increasing access to vaccines creates a 20-to-1 return in economic benefit, billionaire Microsoft co-founder and philanthropist Bill Gates told CNBC on Wednesday. Over the past two decades, the Bill and Melinda Gates Foundation has donated “a bit more than $10 billion” into mainly three groups: The Global Alliance

Around 270 private jets were flown into Switzerland by Davos participants between Sunday and Tuesday, according to the World Economic Forum (WEF). The total number could be higher given that a number of delegates will remain in Davos – where the threats posed by climate change have been high on the agenda – until later

Sen. Elizabeth Warren, D-Mass., is planning to propose a “wealth tax” on some of the richest Americans, an economist who advises her told CNBC on Thursday. The new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.

Hundreds of thousands of people are living without a paycheck amid the longest government shutdown in history. As a result, federal employees and contractors are digging into their retirement savings, filing for unemployment, picking up other jobs and unable to meet their rent or mortgage payments. Most people would be in the same bind if

Hedge fund billionaire Ken Griffin closed a deal to buy the most expensive home ever sold in the U.S., paying around $238 million for a New York penthouse overlooking Central Park. The deal is the largest in Griffin’s recent $700 million, global real estate shopping spree, believed to be the largest ever for a U.S.

DAVOS, Switzerland – The elite financiers attending Davos are worried about the 70 percent tax rate on earnings above $10 million proposed by freshman Rep. Alexandria Ocasio-Cortez, D-N.Y. “It’s scary,” Scott Minerd, global chief investment officer for $265 billion Guggenheim Partners, said in an interview on the sidelines of the World Economic Forum in Davos,

Things don’t look great for the journalism business. Tech has changed the news business as many wonder what lies ahead for the industry. The internet upended the old advertising and distribution models. Meanwhile, the whole idea of a strong press as a check on the powerful? That’s up in the air, too. Pulitzer Prize winning

Oxfam has urged governments to hike tax rates for corporations and the world’s richest to tackle the growing global wealth gap. In a report published Monday, the charity revealed that billionaire fortunes rose by $2.5 billion per day in 2018, increasing 12 percent for the year as the poorest half of the world saw its

Early estimates for next year’s Social Security cost-of-living adjustment are in — and they’re nothing to celebrate. In fact, at the rate we’re going, there might not be a cost-of-living adjustment for 2020 at all, according to Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. The non-profit organization tracks how

Spending on watches, jewelry, boats and other luxury goods could tumble because of the recent stock market jitters, according an analysis from Goldman Sachs. Declines in stock prices since their peak last September could reduce luxury spending by wealthy spenders and shave a half a percent from the gross domestic product in 2019, according to

J.P. Morgan Chase CEO Jamie Dimon got a 5 percent bump — $2 million — in his pay last year following record annual earnings for the company. Dimon’s full compensation for 2018 totaled $31 million, up from $29 million, according to an Securities and Exchange Commission filing released Thursday. The compensation includes a base salary

In the wake of Nike’s 30th anniversary of the “Just Do It” campaign, the company just did it. The major retailer featured former NFL quarterback Colin Kaepernick in its ad campaign with the message: “Believe in something. Even if it means sacrificing everything.” Has the Kaepernick gamble paid off? Plus, Facebook’s Sheryl Sandberg and Twitter’s

The presidency of Donald Trump has indirectly helped the real estate market in South Florida, Miami property magnate Gil Dezer told CNBC on Thursday. Dezer, who runs his billionaire family’s real estate empire, said prices of his firm’s Trump-branded properties in Florida have been pumped up by the president’s popularity there. “We shouldn’t forget that

The Consumer Electronics Show — CES — is how tech starts the year. It’s a massive event in Las Vegas with halls full of booths, wall-to-wall people and companies competing to convince the world that they own the future. Jon Fortt and Julia Boorstin were there for CNBC, interviewing executives, taking in the news and

Chinese foreign direct investment into the U.S. plummeted for a second year in a row, according to new data. In 2018, Chinese FDI in the United States fell to just $4.8 billion — a massive decline from $29 billion in 2017 and $46 billion in 2016, according to independent researcher the Rhodium Group. The 2018

Jeff Bezos‘ divorce could become the most expensive in history — exactly what he pays out will depend on the complexities of marital law and the value of Amazon. Bezos announced in a tweet Wednesday that he and his wife of 25 years, MacKenzie, have “decided to divorce.” His tweet suggested that it will be