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The founders of Spotify, Daniel Ek and Martin Lorentzon, recently sold over $1 billion worth of the company's stock as they diversify their investments. Despite selling a significant amount of shares, they still hold a 16% stake in the company, contributing to their combined $22 billion fortune. The surge in Spotify's stock price has significantly increased their net worth, with Ek focusing on investing in European startups and Lorentzon backing various ventures, including a health-care startup and a body-scanning company. Other executives at Spotify have also sold shares, indicating a trend of profit-taking among company insiders. [Extracted from the article]

Julius Baer Group Ltd. is planning to cut hundreds of jobs over the next two years under new CEO Stefan Bollinger to reduce costs. The bank's 15-person executive board will also be downsized. The move comes as the Swiss wealth manager aims to complete a turnaround following losses linked to the defunct Signa real estate empire. UBS Group AG is also undergoing job reductions as it integrates Credit Suisse. [Extracted from the article]

The Perrodo family, known for their oil business, is diversifying their investments into luxury real estate, diamonds, and clothing. With a net worth of over $8 billion, the family is expanding their portfolio through various ventures, including high-end properties in Spain, a London-based family office, and investments in companies like BC Brands and Kronos Homes. The family's second generation is moving away from fossil fuel production and exploring new sectors such as battery metals, vineyards, and high-end gems, showcasing their strategic investment approach. [Extracted from the article]

The Perrodo family, known for their involvement in the oil industry, is expanding their investments into luxury real estate, diamonds, and clothing. With a net worth of over $8 billion, the family is diversifying their portfolio through various ventures, including a London-based family office, private equity firm, and property developer. Their investments range from high-end real estate in New York and Spain to businesses in the fashion, food, and gem industries. [Extracted from the article]

Jamie Dimon, CEO of JPMorgan Chase & Co., hosted a lavish party at the Kirchner Museum in Davos during the World Economic Forum, serving canapes, champagne, and larger dishes to guests. The event, attended by senior JPMorgan executives and other prominent figures, was one of the most well-attended gatherings at the forum. Other notable events at Davos included a roundtable discussion on renewable energy hosted by Australian mining billionaire Andrew Forrest and a reception at the Belgium House where NATO chief Mark Rutte addressed Russia's war with Ukraine. [Extracted from the article]

Billionaire Tom Siebel, a supporter of former US President Donald Trump, hosted a whiskey-themed event at the World Economic Forum in Davos, Switzerland. Siebel highlighted the history of American bourbon and its significance, offering guests a selection of fine bourbons to enjoy. The event was one of many gatherings at Davos, where attendees discussed a range of topics from crypto to women's health, and various high-profile figures, including David Beckham, were in attendance. The evening also saw Bank of America and Qatar Investment Authority hosting events with different culinary offerings and atmospheres. [Extracted from the article]

During Donald Trump's presidential inauguration, the Ukraine House in Davos became a popular spot for attendees to watch the ceremony. Ukrainian President Volodymyr Zelenskiy and other leaders showed support for Trump at the World Economic Forum. Business leaders and investors worth over $120 billion were present in Davos, with a focus on Trump's address and Elon Musk's X platform. The event showcased the close attention of the business elite to Trump's presidency, with festivities and discussions surrounding the inauguration. [Extracted from the article]

Billionaire Patrick Drahi has officially moved his residency from Switzerland to Israel, citing personal reasons and a desire to focus on the Middle East. This change comes amidst reported tax probes in Switzerland and pressure to reduce debt in his telecom empire. Drahi, with a net worth of $5.8 billion, has ties to Israel through his telecom company and news channel. His Luxembourg-based holding company controls significant business assets, including Altice France. [Extracted from the article]

The article from Bloomberg.com discusses how Morgan Stanley and Citigroup Inc. wealth executives are observing a shift towards private markets shaping their businesses, moving away from traditional liquid assets. Both banks are increasing offerings for rich clients in closely held businesses, with a focus on private market investments. This trend is part of a global wave of firms focusing on the private markets boom, with assets under management expected to triple in size by the end of the decade. Super-rich families are becoming more influential players in private markets, with a growing interest in the secondaries market. [Extracted from the article]

The number of Americans qualifying as "accredited investors" has reached an all-time high due to rising markets and outdated regulations. Accredited investors have access to riskier, less regulated assets such as private equity and real estate placements. However, the expansion of access raises the question of whether it is worth joining a club that would have you as a member. The world's largest alternative asset managers are targeting individual investors as a new source of funding, but there are concerns about the lack of transparency and liquidity in private markets. [Extracted from the article]

The family office of Maria Angelicoussis, Greece's wealthiest shipping magnate, is shifting its focus towards publicly traded investments under the leadership of Laura Lavers, a former hedge fund executive. The office has hired Ben Goldsmith, a former executive at a London-based stock-picking firm, to lead its public markets division. This move comes after the family office saw significant gains in private market investments, and reflects a broader trend among the super-rich towards public equities. Angelicoussis, who has a net worth of $6.6 billion, is the CEO of her family's maritime firm and is the second-richest person in Greece. [Extracted from the article]

Jeremy Coller, a prominent UK private equity founder, has appointed Sara Macedo as the first CEO of his family office, Coller Holdings, as he expands his investments beyond his main firm. Coller, known for his success in the secondary private equity market, is increasing his focus on managing his wealth. Macedo, with a background in asset management and early-stage investments, has taken on this new role. Coller's family office has seen significant growth, particularly in alternative food investments, with assets nearly six times higher since early 2020. The appointment of Macedo reflects a trend of more women taking on leadership roles in family offices, which have seen increased prominence in various industries. [Extracted from the article]

Hasma Capital, the family office for the Juffali clan in Saudi Arabia, has hired Thomas Fitzmaurice, a money manager from Rupert Murdoch's family office in London. Fitzmaurice will focus on private markets for Hasma, which oversees a multibillion-dollar portfolio. The Juffali dynasty's conglomerate has grown to become one of the largest in Saudi Arabia, partnering with international companies like IBM and Siemens. The family office, Hasma, was established over a decade ago and is led by CEO Mamoun Askari. [Extracted from the article]

The Santo Domingo family of Colombia is selling its stake in Spanish real estate firm Inmobiliaria Colonial Socimi SA, reducing its investments in commercial property. The family, known for their wealth in brewing beer, is selling shares worth about €165.2 million through Deutsche Bank AG. This move comes as office property investments, once popular among wealthy investors, have declined due to the impact of remote work. Other billionaires, such as Zara founder Amancio Ortega and Alibaba co-founder Joe Tsai, continue to invest in commercial real estate globally. [Extracted from the article]

The Santo Domingo family, Colombian billionaires, are selling their stake in Spanish real estate firm Inmobiliaria Colonial Socimi SA, reducing their investments in this asset class. The family is offloading shares worth about €165.2 million through Deutsche Bank AG, representing about 5% of the ordinary stock in the Madrid-listed owner of office buildings in Spain and France. This move comes as office property owners face challenges due to the rise of remote work, impacting the attractiveness of such investments for wealthy individuals. [Extracted from the article]

The article discusses how Stanley Druckenmiller's family office and other investment firms for the wealthy increased their allocations to US bank shares in the last quarter, anticipating a rally in financial stocks. This move was influenced by the potential benefits of Donald Trump's presidential election win, as he promised to lower taxes and cut regulations, creating a more favorable environment for banks. The article also highlights other notable investment decisions made by various money managers overseeing significant US equities, providing insights into the investment strategies of hedge funds and large family offices. [Extracted from the article]

A group representing the UK's wealthiest foreigners, known as non-doms, made a final plea to the government ahead of the budget announcement. They advocated for UK inheritance tax protection and a tiered preferential tax regime to prevent them from leaving the country due to proposed tax changes. While the government may not incorporate many of their proposals, the non-doms are concerned about the potential impact of Labour's reforms on their finances and investments in the UK. The group's efforts to engage with the government reflect their desire to maintain the UK's status as a top destination for global investment. [Extracted from the article]

The article discusses the potential impact of UK Prime Minister Keir Starmer's tax policy on the non-domiciled population in the UK, particularly those from wealthy backgrounds. The proposed tax reforms aim to eliminate preferential treatment for non-doms, who currently do not pay UK taxes on overseas earnings for up to 15 years. The reforms have sparked concerns among non-doms, with many considering leaving the country, which could have significant economic implications. Various lobbying efforts and discussions are ongoing between non-doms, government officials, and advocacy groups to address these concerns and potential consequences. [Extracted from the article]

The article discusses the concerns of the UK's super-wealthy, particularly non-doms, regarding proposed tax reforms by UK Prime Minister Keir Starmer's Labour Party. Many wealthy individuals, like Gabor Futo, are resisting these changes, fearing the impact on the UK economy and their personal finances. The proposed reforms, including changes to inheritance tax and other tax hikes, have led to discussions between the government and lobbying groups representing the interests of non-doms. The potential exodus of non-doms could have significant implications for the UK's tax revenue and economy. [Extracted from the article]

The article discusses the potential impact of UK Prime Minister Keir Starmer's tax policy on the non-domiciled population in the UK, particularly wealthy foreigners. Many non-doms are considering leaving the UK due to proposed tax reforms, which could lead to a significant loss in tax revenue for the country. The Labour Party's plans to eliminate inheritance tax breaks and increase taxes for private equity investments are causing concern among non-doms, who contribute billions in taxes annually. Lobbying efforts are underway to propose a tiered preferential tax regime as an alternative to the current proposals. [Extracted from the article]

Christian Angermayer, a cryptocurrency, biotech, and psychedelics investor, has left England for Lugano, Switzerland, due to the UK's plans to raise taxes on offshore wealth of affluent residents. Angermayer, a German native who lived in the UK for the past decade, explored relocating to New York and Dubai as well. The UK's political parties have targeted non-domiciled residents, including top bankers and multibillionaires, to raise funds for spending on voters. Angermayer criticized the planned changes to the non-dom framework, calling them a "huge mistake" and potentially a bigger act of national self-harm than Brexit. [Extracted from the article]

Christian Angermayer, a prominent investor in cryptocurrency, biotech, and psychedelics, has left the UK for Lugano, Switzerland, due to the UK's plans to increase taxes on offshore wealth for affluent residents. Angermayer, a German native who lived in the UK for the past decade, explored other potential relocation options such as New York and Dubai. The UK's political parties have targeted non-domiciled residents, including top bankers and billionaires, to raise additional funds. The Labour Party, in particular, plans to eliminate inheritance tax breaks on assets held in overseas trusts, which has caused concern among non-doms. Angermayer believes these changes are a mistake and could lead to a wealth exodus from the UK. Switzerland, with its political stability, high standard of living, and preferential tax treatment, has become an attractive destination for the super-rich. Lugano, in particular, has become a crypto-friendly city, allowing individuals and businesses to settle bills in Bitcoin or the Tether stablecoin. Angermayer holds various blockchain investments and has introduced Tether to other businesses. [Extracted from the article]

Citigroup Inc. is selling its global fiduciary and trust administration services business, Citi Trust, to JTC Plc for $80 million. The move is part of Citigroup's strategy to focus more on wealth planning and investment management. JTC, based in Jersey, will acquire a unit that serves over 2,000 ultra-wealthy clients and manages more than $70 billion in assets. This deal will also expand JTC's presence in the US, where it has recently acquired other American trust companies. [Extracted from the article]

A new report from the Institute for Public Policy Research (IPPR) has urged the UK's Labour government to stick to its plan for higher taxes on wealth, despite calls for restraint from business groups and advisers to the rich. The IPPR argues that tax hikes would help reduce inequalities between different regions of the UK, with the average person in the north of England projected to have significantly less wealth than someone in the southeast by the end of the decade. The report suggests taxing income from dividends and capital gains at the same rate as wages, as well as increasing taxes on expensive properties and inherited assets. The Fabian Society, another left-leaning think tank, has also called for a reduction in tax relief on pension contributions. Prime Minister Keir Starmer has indicated that the upcoming budget will be particularly painful for the wealthy, and there are concerns that tax hikes may be even sharper than anticipated. However, Labour faces a delicate balancing act as it seeks to prioritize economic growth and wealth creation. [Extracted from the article]

A new report from the Institute for Public Policy Research (IPPR) has called on the UK's Labour government to implement higher taxes on wealth in order to reduce inequalities between different regions of the country. The IPPR argues that income from dividends and capital gains should be taxed at the same rate as wages, and that taxes should be increased on expensive properties and inherited assets. The Fabian Society, another left-leaning think tank, has also called for reductions in tax relief on pension contributions. Prime Minister Keir Starmer has indicated that the upcoming budget will be particularly painful for the wealthy, but Labour faces a delicate balancing act as it seeks to prioritize economic growth and wealth creation. [Extracted from the article]

Members of the Nobel dynasty, known for the annual Nobel Prizes, are investing in a US wealth-management firm called Cardea to expand their presence in financial markets. The relatives of Alfred Nobel, the founder of the prizes, are partnering with Cardea executives to create a rebranded firm called Fourcore Capital. Peter Nobel, great-grandson of Alfred's brother, will serve as chairman of Fourcore's board of directors. The partnership aims to maximize the value of their assets and capitalize on the demand for a broader range of investment offerings. [Extracted from the article]

HSBC Holdings Plc has been facing challenges in its private banking business in the Middle East. The bank has struggled to attract wealthy Gulf royals as clients, with many choosing competitors like Credit Suisse and UBS Group AG instead. HSBC hired Aladdin Hangari, a former Credit Suisse executive, to lead its wealth offerings in the region and pledged to double the division's assets under management. However, Hangari has faced obstacles, including high-profile departures and regulatory restrictions on bringing on new customers. HSBC is looking to expand its business in the Middle East and has added several private bankers to its team. [Extracted from the article]

George Soros and Stanley Druckenmiller's investment firms reduced their holdings in several major technology companies before the recent downturn in mid-July. Soros Fund Management sold some of its stake in Alphabet Inc. and Amazon.com Inc., while Druckenmiller's Duquesne Family Office sold over 1.5 million shares of Nvidia Corp. Other investors, such as David Tepper's Appaloosa Management and David Bonderman's Wildcat Capital Management, also made similar cuts to their holdings. The filings indicate that investors took advantage of the rally in technology stocks before the market downturn. [Extracted from the article]

George Soros and Stanley Druckenmiller's investment firms reduced their holdings in several major technology companies before the market downturn in mid-July. Soros Fund Management sold some of its stake in Alphabet Inc. and Amazon.com Inc., while Druckenmiller's Duquesne Family Office sold over 1.5 million shares of Nvidia Corp. Other investment firms, such as Appaloosa Management and Wildcat Capital Management, also made similar cuts to their holdings. The filings indicate that investors took advantage of the market rally before the economic outlook became more uncertain. [Extracted from the article]

Stephen Lansdown, co-founder of Hargreaves Lansdown Plc, is set to earn over £300 million from the sale of the company. While he is pleased with the outcome, he also feels sadness as it marks the end of an era. Lansdown plans to use the windfall to support his other business holdings and investments. The take-private deal, recommended by Hargreaves Lansdown, values the company at £5.4 billion. Lansdown co-founded the company in 1981 and has already sold over £500 million worth of stock. He plans to continue supporting his other investments, including a football club, a safari business, and a golf resort. [Extracted from the article]

Deutsche Bank's US wealth unit, led by Arjun Nagarkatti, plans to hire more senior private bankers in an effort to compete with Wall Street's European rivals in serving the ultra-rich. The bank aims to add up to a dozen private bankers in the US this year, with a focus on expanding their presence in San Francisco and Los Angeles. Deutsche Bank has been ramping up its wealth-management businesses since 2019, but revenue from wealth management and private banking has stagnated. Despite this, the bank is determined to become the preferred boutique for sophisticated, ultra-rich investors in the US. [Extracted from the article]

Nik Storonsky, the CEO of Revolut, has created a quantitative investment firm called QuantumLight that uses algorithms and artificial intelligence to source deals for early-stage companies. QuantumLight has invested in nearly a dozen startups in the past year and recently took a stake in health care-focused startup Rad AI. Storonsky, along with other European tech billionaires, is expanding his wealth outside of his primary assets by building venture investments. QuantumLight aims to make more precise and quicker investment decisions than humans, challenging traditional venture firms. [Extracted from the article]

Nik Storonsky, the CEO of Revolut, has created a quantitative investment firm called QuantumLight that uses algorithms and artificial intelligence to source deals for early-stage companies. QuantumLight has invested in nearly a dozen startups in the past year and recently took a stake in health care-focused startup Rad AI. Storonsky believes that the firm's strategy allows for more precise and quicker decision-making than humans, and he expects AI to play a greater role in the market for startup deals. QuantumLight is positioning itself as an outlier in the venture capital industry, and Storonsky aims to challenge traditional venture firms and take on giants in the market. [Extracted from the article]

Rayyan Islam and Kerem Ozmen, founders of venture firm 8090 Industries, are focusing on investing in industrial companies rather than Silicon Valley startups. They have gained the support of billionaire families, including those involved in the energy, mining, and consumer goods sectors. Their strategy has paid off, with gains of at least 275% on their investment in Oklo Inc., a developer of advanced nuclear systems. 8090 Industries has also attracted investment from next-generation members of ultra-rich families and is exploring opportunities to reduce carbon emissions in the cement and steel industries. [Extracted from the article]

Rayyan Islam and Kerem Ozmen, founders of venture firm 8090 Industries, are focusing on investing in industrial companies rather than Silicon Valley startups. They have gained the support of billionaire families who are interested in transforming the manufacturing and energy sectors. Their strategy has paid off, with gains of at least 275% on investments in companies like Oklo Inc. and Infinium. 8090 Industries has attracted investors from ultra-rich families and is rubbing shoulders with major players in global finance. The firm recently closed its second fund, totaling over $100 million, and plans to explore opportunities in cutting carbon emissions for the cement and steel industries. [Extracted from the article]

Hargreaves Lansdown's co-founders, Peter Hargreaves and Stephen Lansdown, who together own about a quarter of the company, have expressed openness to backing a bid by a group of private equity buyers to purchase the investment platform. The bid, made by CVC Capital Partners, Nordic Capital, and Platinum Ivy, values the firm at £5.4 billion ($6.9 billion). Hargreaves Lansdown's board has stated that it would unanimously support the revised offer. The company, which is the largest platform for retail investors in the UK, has faced increased competition in recent years from rivals with lower fees. [Extracted from the article]

Peter Hargreaves, co-founder and largest shareholder of Hargreaves Lansdown Plc, has expressed openness to supporting a bid by a group of private equity buyers to purchase the investment platform. The offer, valued at £5.4 billion ($6.9 billion), has been made by CVC Capital Partners, Nordic Capital, and Platinum Ivy. Hargreaves Lansdown's board has indicated unanimous support for the revised offer. The deal also allows shareholders to choose whether to invest alongside the bidders. Hargreaves Lansdown is the UK's largest platform for retail investors, but has faced increasing competition in recent years. [Extracted from the article]

Labour's plans to raise taxes on private equity in the UK may be more significant than initially expected, according to sources. The party is expected to close a tax loophole that allows private equity fund managers to pay capital gains tax on their investment returns, instead taxing them at a higher rate as income. The move is aimed at raising additional funds for public services, but it could also strain Labour's relationship with wealthy individuals. The private equity industry is uncertain about the extent of the tax increase, with some executives considering relocating and others waiting for more clarity on Labour's plans. [Extracted from the article]

Wealthy individuals and families with a net worth of over $150 billion are playing a significant role in the recent surge of private equity buyouts. These wealthy clans have co-invested nearly $20 billion in listed company takeovers this year, providing capital for major acquisitions. Investment firms like KKR & Co. and Silver Lake are relying on these wealthy families as a source of capital, especially as borrowing costs remain high. This trend is catching the attention of major investment banks, who are increasingly engaging with private equity investors from wealthy families. The participation of private wealth in buyouts highlights the growing sophistication of managing large fortunes and the increasing reliance on wealthy families as sources of capital. [Extracted from the article]

Wealthy individuals and families with a net worth of over $150 billion are playing a significant role in the recent surge of private equity buyouts. These wealthy clans have co-invested nearly $20 billion in listed company takeovers this year, providing capital for major acquisitions. Investment firms like KKR & Co. and Silver Lake are relying on these wealthy families as a source of capital, especially as borrowing costs remain high. This trend is catching the attention of major investment banks, who are increasingly engaging with private equity investors from wealthy families. The participation of private wealth in buyouts highlights the growing sophistication of managing large fortunes and the increasing reliance on wealthy families as sources of capital. [Extracted from the article]

Wealthy individuals in the UK, including foreign billionaires and City of London bankers, are taking steps to protect their wealth following the announcement of a summer election by Prime Minister Rishi Sunak. Some are selling investments, paying off bills, or leaving the country altogether. Both the ruling Conservatives and the opposition Labour party have pledged to eliminate preferential tax treatment for non-domiciled residents, which has caused concern among the wealthy. The UK has already seen a decline in the number of high-net-worth individuals, and the uncertainty surrounding the election is further driving some to seek financial security elsewhere. [Extracted from the article]

Ultra-rich individuals and families worth over $150 billion are playing a significant role in the recent surge of private equity buyouts. These wealthy families have co-invested nearly $20 billion in listed company takeovers this year, providing capital for major acquisitions. They have become go-to sources of capital for investment firms like KKR & Co. and Silver Lake, helping them overcome the challenges of expensive borrowed money. This trend reflects the growing sophistication of how the world's wealthiest individuals manage their money and the increasing reliance of investment firms on these wealthy families as sources of capital. [Extracted from the article]

Wealthy individuals in the UK, including foreign billionaires and City of London bankers, are taking steps to protect their wealth following the announcement of a summer election by Prime Minister Rishi Sunak. Some are selling investments, paying off bills, or leaving the country altogether. Both the ruling Conservatives and the opposition Labour party have pledged to eliminate preferential tax treatment for non-domiciled residents, which has caused concern among the wealthy. The UK has already been losing high-net-worth individuals, and the uncertainty surrounding the election is exacerbating the situation. [Extracted from the article]

Goldman Sachs' family office clients are considering using look-back puts, a type of exotic option, to navigate the volatility surrounding the upcoming US elections. These options allow investors to "look back" at the price of the underlying asset over the option's lifetime and exercise it based on the most beneficial price. While economic volatility is seen as a risk, Goldman Sachs is not changing its view on portfolio allocations based on the strength of the US economy. This insight into the strategies of wealthy investors provides a glimpse into how they are approaching the November vote between President Joe Biden and Donald Trump. [Extracted from the article]

IWG Plc CEO Mark Dixon has pledged 93% of his shares in the company as collateral for a loan from Deutsche Bank. The pledged stake is valued at approximately $667 million. This transaction highlights how wealthy individuals can leverage their assets for liquidity. Pledging shares is not uncommon among the ultra-rich, with examples including Elon Musk, Larry Ellison, and Adam Neumann. Dixon, who founded IWG in 1989, has offloaded over $300 million of IWG stock in the past decade but has increased his stake during the pandemic. Despite pledging the majority of his shares, Dixon still has a fortune of over $500 million. [Extracted from the article]

Mindaugas Raila, the founder of Girteka, one of the world's largest transport companies, is facing challenges due to a prolonged freight-rate downturn. However, Raila's decision to shift his wealth into a family office during the industry's boom years is helping to mitigate the financial impact. Raila's investments outside of Girteka, held through his private investment firm Willgrow, make up almost half of his $2.5 billion fortune. The family office has allocated funds to early-stage investor Audacious Ventures and is finalizing similar deals, in addition to existing investments through Blackstone, Ares Management, and CVC Capital Partners. Raila remains optimistic about expanding his business empire through his family office. [Extracted from the article]