Wealth

A youth charity founded by Saudi Arabia’s crown prince just lost an influential backer, the Bill & Melinda Gates Foundation, in the latest sign of fallout after the killing of journalist Jamal Khashoggi. The charitable organization started by the Microsoft co-founder and his philanthropist wife is canceling much of its $5 million pledge to the
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Goop, the lifestyle brand owned by actress Gwyneth Paltrow, has been reported to the U.K.’s trading standards and advertising watchdogs over allegations that it makes misleading claims about its products. The Good Thinking Society, a non-profit charity that campaigns against pseudoscience, confirmed to CNBC Monday that it had submitted the complaint about Goop to the
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Death and taxes may be unavoidable. Taken together, they become a firestorm. The federal estate tax has been a hot-button issue since it was first imposed under the Revenue Act of 1916, when 10 percent was levied on portions of an estate exceeding $5 million. The reason this one component of fiscal policy remains so
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Amid increasingly intense hurricanes and other weather events, real estate owners are trying to get ahead of the curve by constructing new homes that can handle extremes. Some of the latest examples in high-end real estate include disaster-prepared and energy efficient properties — but ones that don’t mean retreating underground or building a bunker into
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It finally happened. After three months of no Mega Millions jackpot winners, a single ticket sold in South Carolina beat the 1-in-302.6-million chance of matching all six numbers in Tuesday night’s drawing. The final jackpot amount came in at just under $1.54 billion, marking the largest amount in Mega Millions history and the second-largest lottery
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The Treasury Department on Friday outlined rules for investors seeking to finance development in under-served regions in exchange for significant tax breaks. The proposed guidance would govern investments in so-called “opportunity zones” across the country that were created under the sweeping new Republican tax law. Treasury Secretary Steven Mnuchin estimated as much as $100 billion
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A 73-year-old bottle of French Burgundy became the most expensive bottle of wine ever sold at auction, fetching $558,000 on Saturday. The bottle of 1945 Romanee-Conti sold at Sotheby’s for 17 times its original estimate of $32,000. Another bottle of the same wine and vintage went for $496,000 moments later. The bottles shattered the previous
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Tens of thousands of people’s financial futures were thrown into question when they were denied public service loan forgiveness. The program allows certain not-for-profit and government employees to have their federal student loans cancelled after 10 years of payments. One in four American workers are in public service and could, in theory, be eligible, according
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