Rapper Notorious B.I.G. may have said it best when he sang, “Mo money, mo problems.”
The global uber rich have no shortage of complaints right now, given volatile markets where we have witnessed the combination of the commodities downtrend, the unwinding of petrodollar flows, banks getting fined for managing secret accounts and the arrival of negative interest rates. Read more
Someone at Bloomberg will be getting it in the neck for not having done this already.
Here’s the concentration of ultra wealth by city, courtesy of Wealth Insight. Click to enlarge. Read more
FT Alphaville has been focusing on signs that China may be suffering a “capital outflow” problem.
We also think global markets may be under appreciating the problem. Read more
FT Alphaville has already written about Bloomberg’s billionaire list, which greatly impressed us by making the rival Forbes list seem classy by comparison.
But no longer. Read more
For the commute home, or while worrying about what Friday may bring,
- ‘What if the stock market was a bond?’ Read more
The number of billionaires in leading emerging economies has surpassed the number of those in Europe for the first time and is quickly closing in on the US, according to new figures from Forbes, reports the FT. The US still has the world’s most billionaires with 413 individuals with a total net worth of $1,500bn. At the beginning of this year, the Brics countries – Brazil, Russia, India and China – had 301 billionaires, 108 more than in the previous year, and one more than Europe.