In the past few years, there has been a significant surge in the number of family offices worldwide, with the figure tripling since 2019. A recent report from Preqin revealed that there are now over 4,500 family offices globally. North America leads the pack with 1,682 family offices, hosting more than half of all family
Business
Robinhood, the financial services company, recently announced a partnership with Klutch Sport Group, a firm owned by LeBron James’ agent, Rich Paul. This collaboration aims to broaden Robinhood’s reach into the sports, entertainment, and media industries. As part of the deal, Paul will join Robinhood’s board as a strategic advisor to identify new partnership opportunities
In a bold move, New York Community Bank announced a significant injection of over $1 billion in funds with the help of private equity players. This financial boost, led by ex-Treasury Secretary Steven Mnuchin’s Liberty Strategic Capital with a staggering $450 million, has helped to alleviate concerns about the bank’s financial stability. Following a steep
The Consumer Financial Protection Bureau recently announced a new rule that would cap the typical late fee charged by banks at $8 per incident. This change is expected to benefit over 45 million card users who would save an average of $220 annually, according to the CFPB. The rule comes after a long review of
New York Community Bank recently faced a significant setback as Moody’s Investors Service cut the deposit rating of its main banking subsidiary by four notches. This downgrade, which put the rating at Ba3, three levels below investment grade, marked the second time in just a month that Moody’s had taken such a drastic action. The
When Paul Scanlan and Jeff Annison founded Legion M, their vision went beyond just creating a production studio – they sought to establish a thriving community. Legion M has been at the forefront of a new crowdfunding model in Hollywood, allowing fans to not only contribute to film and television projects but also share in
In the wake of the Covid-19 pandemic, the aviation industry faced unprecedented challenges as air travel demand plummeted. However, amidst the chaos, two upstart airlines, Avelo and Breeze Airways, emerged as beacons of success in the competitive market. By strategically focusing on underserved routes and offering low-cost alternatives, these airlines have not only weathered the
Yum China CEO Joey Wat is confident that Chinese consumers are becoming more rational in their spending habits, contrary to the worries of economists and investors. While the broader Chinese economy is facing challenges, Yum China has seen its sales grow despite a 27% drop in share value over the past year. This shift in
In a groundbreaking development for the world of professional pickleball, Major League Pickleball and the Professional Pickleball Association have successfully completed their merger agreement. This highly anticipated merger is set to inject new capital into the sport and create a unified front for the two largest pickleball organizations. Creating a Holding Company The deal will
The ultrawealthy are always on the lookout for a better lifestyle and strong investment opportunities when it comes to purchasing their next property. According to recent studies, one-quarter of American ultra-high-net individuals, those worth $30 million or more, have plans to buy a residential property this year. These individuals already own an average of four