Here is the latest Money News from CNBC.
Luxe swap: What’s driving the high-end switch-up
With high-end retailers under pressure, those brands that cater to “aspirational” consumers are starting to gain steam.
Iran to splash up to $8B on global property: Study
Iranians will spend up to $8.5 billion on overseas real estate over the next five-to-10 years following the lifting of sanctions, a report has said.
Bill Ackman lost $1B in one day on Valeant
Valeant’s stock closed down 51% to $33.54 a share Tuesday on disappointing financial news, USA TODAY reports.
Rich countries have a $78 trillion pension problem
Dreams of lengthy cruises and beach life may be just that, with 20 of the world’s biggest countries facing a $78 trillion pension shortfall, Citi said.
How you can drive like a millionaire
From a two-continent joy ride to racing a $52 million Ferrari uninsured, here are eight ways to drive like a millionaire.
Ferraris shine at classic cars auction
A few coveted Ferraris helped offset weakness in other models at a classic cars auction at Amelia Island, Fla., over the weekend.
If you do this, you’re smarter than most millionaires
Nearly two-thirds of business owners do not have a succession plan, a new survey found.
You can be Mike Tyson’s Vegas neighbor for $1.5M
Looking for a luxury house in Las Vegas? Mike Tyson’s house has been listed at a cool $1.5 million.
Activists question United Airlines CEO’s role, pay
Two hedge funds that launched a boardroom fight with United oppose plans to give its CEO the role of chairman and have concerns about his pay.
Seinfeld Porsches hit bumpy road at auction
Jerry Seinfeld faced a tough crowd while putting up 18 of his prized cars for auction Friday.
Millionaire may reap trillions mining asteroids
The co-founder of Planetary Resources reveals how he plans to harvest the cosmos for rich resources humanity needs.
Money mistakes: What these NBA standouts learned
Former NBA stars Charles Barkley and Grant Hill share with CNBC mistakes they learned early on in handling big paychecks.
Want to dress like Prince? It’ll cost you $30,000
95 pieces of Prince memorabilia are being auctioned by Nate D. Sanders Auction house through March 17, including jewelry, clothing and dinnerware.
Trump’s product claims more sizzle than steak
Some of the products Donald Trump promoted as proof of his business success have either folded or are not sold to the public.
A $20,000 bottle of wine? Welcome to Wall Street
From a $20,000 bottle of wine to an epic drunken mistake, here are some of the craziest things these sommeliers who cater to Wall Street have seen.
9 crazy-expensive toys of the super rich
These pricey toys are designed for the super rich who work hard and play hard.
Record number of millionaires living in US
The strongest growth has been at the very top of the wealth ladder, according to a new report.
Investing in collectibles? Last year’s best bet
Classic cars were the best-performing collectible investment in 2015, easily racing past art, wine, diamonds and other big-ticket assets.
Top 1% would see $78,000 tax hike under Hillary
Clinton’s plan would generate $1 trillion in additional revenue, the nonpartisan Tax Policy Center says.
Secret Bob Dylan archive sold for $15M to $20M
The artist’s vast private trove is set to become an academic resource, the New York Times reports.
It got hard to get, and stay, super-rich in 2015
The world’s super-rich population got smaller in 2015 for the first time in seven years, as the mega-wealthy took hits from volatile markets.
‘Forbes’ 2016 richest list: Zuckerberg zooms up
Facebook CEO Mark Zuckerberg is the biggest gainer in Forbes’ 2016 billionaires list of the world’s richest people.
What $1 million buys you in global real estate
Monaco remains the most expensive real estate market in the world on a square-meter basis, according to a new report.
Got a spare couple million? Try the new supercars
The world’s most elite automakers unveiled their latest productions ahead of Switzerland’s Geneva Auto Show.
9 ways the super rich rock diamonds
Millionaires and billionaires are not afraid to add a touch of sparkle.
Buffett: Economy’s wavering, but I’m buying stocks
Billionaire Warren Buffett tackled Europe’s money problems, IBM’s woes and the presidential race.
‘Holy grail’ Beatles item up for auction
A rare and significant early Beatles record is expected to fetch at least £10,000 ($13,956) at auction next month.
Trump as CEO and commander in chief?
If he becomes president, Donald Trump would continue to have the ability to own and promote his multitude of businesses.
Mitt Romney: Possible ‘bombshell’ in Trump’s taxes
Mitt Romney raised questions about Donald Trump’s taxes that resembled attacks used against the former GOP presidential nominee four years ago.
China has more billionaires than US: Report
The Hurun Report says China now has the most billionaires despite the country’s economic woes.
Made $1 million last year? How to avoid an audit
Of tax returns filed with a reported income of $1 million or more, 9.55 percent were audited or examined in 2015.
Thai princess gets a $40K toilet for royal visit
A toilet that costs about $40,000 has been built for the princess of Thailand for her Cambodia visit, according to The Guardian.
Judge questions photos of 50 Cent with cash piles
Rapper 50 Cent has been ordered to appear in bankruptcy court in Connecticut to explain photos showing him with wads of cash.
Maserati enters crowded luxury SUV market
Maserati unveils the first official images of the Levante, a luxury SUV it plans to start selling this summer.
You can buy the White House (replica) for $6M
A replica of the president’s pad, located just outside of Houston, is on the market for just under $6 million.
Griffin spent $500M on two paintings: Sources
They are believed to be the highest prices ever paid for works of contemporary art, according to art experts.
FBI investigates possible wine Ponzi scheme
The FBI is probing a bankrupt California wine seller that some customers claim was operating a multimillion-dollar Ponzi scheme.
Happy 80th to Icahn, who makes 1/2 a million A DAY
It’s Carl Icahn’s 80th birthday. He’s made an average of $581,793 each day he’s been alive.
Rare 404.2-carat diamond found in Angola
A virtually flawless diamond was discovered in Angola, weighing in at 404.2-carat. NBCNews reports.
Bond’s ‘Spectre’ Aston Martin on sale for $1.5M+
James Bond fans should head to London for a one-off chance to grab a slice of the super-spy’s lifestyle.
A billionaire’s gift guide for Valentine’s Day
Money can’t buy you love. But if you’re super rich, it sure can buy some pretty expensive Valentine’s Day gifts.
Elon Musk just lost $3.3B on a double whammy
Musk’s holdings in SolarCity and Tesla are down a staggering $3.3 billion just this year, USA TODAY reports.
Rare Clapton, Elvis guitars coming to NYC auction
About 300 guitars, including instruments associated with Eric Clapton, Elvis Presley and Eddie Van Halen, are heading to a New York City auction.
How many millionaires live in your state?
Millionaire density tends to be higher in smaller states or near to big centers of wealth creation.
Singapore’s luxury housing market remains firm
Demand for high-end homes in Singapore remains firm despite higher levies on foreign purchases, according to one local developer.
Artist turns market mayhem into $10,000 paintings
A 24-year-old artist has been charting stocks’ price movements and turning them into paintings.
Bloomberg weighs White House bid, may spend $1B
Michael Bloomberg, New York’s former mayor, may launch an independent White House bid, The New York Times reports.
This playoff team sets pay equality gold standard
One of the most successful teams in the NFL is also the most equal in pay, CNBC found.
Billionaire battle: Bloomberg’s worth versus Trump
If Bloomberg were to face off against Trump, it would hardly be a competition — at least when it comes to net worth.
The hedge fund managers that made it big in 2015
Even in tough market conditions, some fund managers still managed to eke out some decent gains for investors.
Christie’s 2015 sales at $7.4B, a 5% drop
Christie’s said the results were the second-highest total in company history, The New York Times reports.
Original ‘War of the Worlds’ draft to be auctioned
Fans of Orson Welles’ famous “War of the Worlds” broadcast can now snatch up a piece of radio history… for $20,000.
Oprah’s made $2.4 million for each pound lost
Based on an analysis of SEC filings and her own announcements, Oprah Winfrey has made $2.4 million per lost pound.
These millionaires get Obamacare subsidies
Subsidies are available to people with low or moderate income, and aren’t tied to net worth.
Mansion prices hit new highs in super-rich enclaves
Mansion prices show no signs of slowing in the Hamptons, Beverly Hills and Aspen.
Bezos takes $7B hit on Amazon earnings miss
Didn’t enjoy your Christmas? Jeff Bezos just lost $7 billion on his.
Microsoft mogul’s yacht blamed for reef destruction
A super yacht belonging to Microsoft co-founder Paul Allen has been blamed for destroying a large area of protected coral reef in the Cayman Islands.
Zuckerberg, Bezos duke it out on rich list
Mark Zuckerberg is in position to overtake Jeff Bezos as the world’s fifth richest person.
Op-Ed: China’s disappearing billionaire effect
China’s crackdown on corruption includes kidnapping CEOs. These human rights violations will have a chilling effect, says professor Michael Posner.
Scottsdale car auction posts 1st drop since ’10
The nation’s largest car auction posted its first sales decline since 2010.
Ferrari growth slows — and owners cheer
Good news for Ferrari owners wasn’t quite so good for the automaker’s shareholders.
Is this Europe’s most expensive classic car?
A classic 1957 Ferrari is set to become the most expensive car to sell at a European auction this Friday.
Wall St. is betting big on these candidates
Wall Street money is flowing to presidential candidates Marco Rubio and Hillary Clinton, and away from former favorite Jeb Bush.
How the rich fly into the Super Bowl
Private jets are expected to flock to the Bay Area for Super Bowl 50, making it one of the biggest private jet events of 2016.
London garage seen selling for $261,000
A garage in London is set to be auctioned for $261,567 or more, as the escalation in real estate prices in the already expensive city continues.
Most expensive car ever auctioned? It depends
Due to a quirk in auction locations and currency exchange rates, the title for the most expensive car ever auctioned is in dispute.
Revaluing family treasures for the taxman
Trophy assets like art and cars that get passed down are subject to taxes, but their value is subjective, The New York Times reports.
Yours for $44M: Margaret Thatcher’s London home
The London home of one of Britain’s best-known prime ministers is on the market for £30 million ($43.5 million).
Here’s who bought that $35.7M Ferrari: Sources
A real estate developer bought the 1957 Ferrari that sold for more than $35 million, according to people familiar with the sale.
Ferrari unveils four-wheel drive supercar
Ferrari on Monday released the first images of the GTC4Lussoa, a new 12-cylinder monster that could help the company’s margins.
Top 50 philanthropists got stingier; lowest giving in 5 yrs
Total giving by the top 50 US philanthropists dropped 30 percent last year to the lowest amount since 2010.
This is what is in the $220,000 Oscar swag bag
Academy Award nominees in five categories will receive the annual “Oscar swag bag” — a prize worth upward of $220,000.
Viacom CEO paid more than you think: Expert
The amount of money Philippe Dauman has earned at the helm of the media giant is a lot higher than some reports suggest.
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