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ultrarich

CEO of $5.6 billion Swiss bank says country is still the ‘No. 1 location’ for wealth after voters reject a tax on the ultra-rich

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Switzerland is doubling down on its status as a rich-friendly haven after rejecting a tax on the ultra-wealthy. Despite competition from other countries, one banking executive says it will remain at the top of millionaires’ lists of destinations to migrate to.   “In our business wealth management and private banking Switzerland will remain the No. 1 … Read more

The ultra-rich are moving gold to Singapore as global risks mount

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“The idea of putting physical metal in a safe jurisdiction like Singapore with parties they can trust is becoming a big trend nowadays,” says Gregor Gregersen, founder of The Reserve. Alessia Pierdomenico | Bloomberg | Getty Images The ultra-wealthy are increasingly moving their gold offshore as economic and geopolitical uncertainty roils markets — and Singapore … Read more

Trump’s tax hike on millionaires is back on the table—but experts say it won’t make a dent in the ultra-rich

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As Republicans in Congress try to negotiate a fiscal policy bill, a decidedly un-Republican concept is back on the table: Raising the tax rate on the highest earners.  President Donald Trump reportedly asked House Speaker Mike Johnson this week to create a new tax bracket for people making over $2.5 million, the New York Times … Read more

Credit Suisse admits scheme to hide more than $4 billion in offshore accounts for ultra-rich Americans

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A services unit of Credit Suisse pleaded guilty and was sentenced on Monday in a long-running scheme that hid wealthy U.S. accounts from authorities, according to the Department of Justice.  Between 2010 and July 2021 Credit Suisse AG plotted with its employees and ultra-rich U.S. account holders to conceal the money and assets they held … Read more

Trump’s tariffs are sending ultra-rich investors to Europe and Asia: ‘The world has changed in the last 3 months’

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Though President Donald Trump has said his aggressive tariff strategy, unveiled this week, will make the markets “boom,” it has so far resulted in a rout, with U.S. equity markets suffering their worst week since March 2020 and more pain likely on the way. And that’s sending ultra-wealthy investors to seek refuge from the financial … Read more

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