Wealth

Mark Wragg | Stockbyte | Getty Images Credit cards are a growing problem for everyone. Overall, Americans have $830 billion in credit card debt as of the second quarter of 2019, a 6% jump year over year, according to the most recent report from Experian. It is the second-fastest-growing type of debt, after personal loans,
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CNBC’s Jim Cramer said on Tuesday that Sen. Elizabeth Warren missed her chance to court ultra-wealthy voters who may have naturally supported her 2020 presidential run. “She’s scared people, and that’s why I think people are flocking to other candidates,” Cramer said, referring to Warren’s bank-bashing and wealth-taxing proposals. The Massachusetts Democrat, who has recently
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Here’s about 18 minutes, uncut, from the last part of Jon Fortt’s Fortt Knox interview this week with rapper and entrepreneur Fat Joe. They’re in the back of Fat Joe’s UPNYC store in Washington Heights, days after he dropped latest album “Family Ties,” a collaboration with hit-making producer and rapper Dre. The album features features
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Martin Barraud | Getty Images A majority of Americans say the economy is only benefitting the wealthy, despite record-low unemployment and rising wages. A poll by Pew Research Center found that 69% of Americans say the economy is helping the wealthy, while hurting the poor, those without college degrees and the middle class. Responses also
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Charles Taylor | Getty Images There are less than four weeks left in the year, and your chances of a holiday gift at work are looking pretty good. About 2 in 3 companies anticipate giving workers a year-end bonus or perk, according to new data from Challenger, Gray & Christmas. The Chicago-based recruiting firm polled 250
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Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at SpaceX headquarters in Hawthorne, California, U.S., on Thursday, Oct. 10, 2019. Patrick T. Fallon | Bloomberg | Getty Images Elon Musk testified under oath he’s not sure know how much he’s worth. The Tesla and SpaceX
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In the late 1990s Andy Jassy pitched a wild idea to his boss and mentor, Jeff Bezos: what if Amazon developed another business…this one, in the cloud. Two decades later, it’s Amazon’s most profitable division – one that Jassy continues to head up as the CEO of Amazon Web Services. Jon Fortt sat down with
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Elon Musk is due to resume testifying in his own defense on Wednesday in a defamation lawsuit filed by a British diver whom the Silicon Valley billionaire called “pedo guy” on Twitter. Musk, the 48-year-old CEO of Tesla, apologized for the tweet during his first day of testimony in U.S. District Court in Los Angeles on
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Six of Silicon Valley’s biggest companies had a combined “tax gap” of more than $100 billion this decade, according to a new analysis. Fair Tax Mark, a British organization that certifies businesses for good tax conduct, assessed global tax payments from Facebook, Apple, Amazon, Netflix, Google and Microsoft between 2010 and 2019. The companies are
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jeffbergen | E+ | Getty Images The average American is in poor financial health. Those with credit cards carry more than $5,5000 in debt and, according to the American Psychological Association, 81% of Americans say that money is a significant source of stress in their lives. Despite the struggle, the basics of personal finance are
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LVMH chair Bernard Arnault speaks at the Viva Technology conference in June 2017 in Paris, France Chesnot | Getty Images Bernard Arnault, chairman and CEO of luxury goods brand LVMH, has overtaken Bill Gates to be named the world’s second-wealthiest person by Forbes. According to Forbes’ Real-Time Billionaires List, the French businessman added an estimated
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