ultra rich news stories on Newser

Dear Warren, If You Feel Undertaxed, Write a Check

John Johnson — Wed, 17 Aug 2011 12:15:05 CDT

Warren Buffett is again calling for higher taxes on himself and other rich people, and the Wall Street Journal would like him to put a sock in it, please. In an editorial today, the newspaper suggests Buffett isn't telling the full story. For instance, he complains that he pays only...

If We Took Buffett's Advice, How Much Would It Help?

Evann Gastaldo — Tue, 16 Aug 2011 12:47:05 CDT

Warren Buffett made waves yesterday when he told the federal government to stop "coddling" him and other wealthy Americans and raise taxes on the rich. His plan would roll back the Bush tax cuts on people who earn more than $1 million and on capital gains and dividends income, and...

Trump Shows Off New $100M Plane

Tim Karan — Mon, 06 Jun 2011 18:00:39 CDT

No more slumming it in the air for Donald Trump: The real estate mogul gave the New York Post a tour of his modest little $100 million private plane before taking it on its inaugural flight from New York to DC. The overhauled Boeing 757 seats 43 very comfortably and...

Quit Waffling, Obama, and Stand Up to Bazillionaires

Emily Rauhala — Sun, 14 Nov 2010 07:29:42 CST

The electorate may have little love for wealthy, would-be politicians like Meg Whitman, John Raese, and Linda McMahon, writes Frank Rich for the New York Times . But maybe they should: Whitman and Co. were at least trying to give back, unlike most obscenely wealthy folk. The top 1% of American...

The Rich Are Mad as Hell, and Getting Away With It

Drew Nelles — Mon, 20 Sep 2010 07:05:20 CDT

“Anger is sweeping America,” Paul Krugman writes in the New York Times , and no, “I’m not talking about the Tea Partiers. I’m talking about the rich.” Although the recession has taken homes and jobs away from millions of poor Americans, “real political rage” is found chiefly among those “who are...

For the Rich, Sleep a Status Symbol

Kevin Spak — Sun, 05 Sep 2010 17:52:00 CDT

Looking industrious has fallen out of favor among America’s upper crust. Jamie Johnson, who covers the lifestyles of the rich for Vanity Fair , writes that it’s fashionable for today’s wealthy heirs to lounge in bed until 4 or 5 in the afternoon—any stigma once associated with such sloth has...

Middle Class Morphs Into 'New Poor'

Jane Yager — Mon, 23 Aug 2010 09:02:00 CDT

At first, it seemed the financial crisis wouldn't leave the US deeply scarred, that's we'd ultimately emerge from it with renewed energy—until Americans stopped to look around and realized that somewhere along the way the middle-class had atrophied, leaving a small super-rich elite and swelling ranks of the poor....

For Once, Super-Rich Not Getting Richer

Kevin Spak — Fri, 21 Aug 2009 09:25:01 CDT

Since the 1970s, the rich have been getting richer with stunning consistency, but now, thanks to the recession, that decades-long run has hit a wall, the New York Times reports. Wall Street pay is indeed returning to normal, but for every investment banker who’s benefiting from that, several more are...

Credit Crisis Snips Ranks of Super Rich

Rob Quinn — Thu, 25 Jun 2009 03:15:00 CDT

Won't somebody think of the poor millionaires? The global financial crisis has hit the world's "super rich" hard and left many of them merely extremely wealthy, the Financial Times reports. The number of "ultra high net worth individuals" with over $30 million to invest shrank by nearly a quarter last...