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A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The U.S. now accounts for more than a third of the world’s millionaires and billionaires, as tech companies and startups mint ever larger fortunes. The U.S. has more than 6 million liquid millionaires, or those with investable assets of more than $1 million, up 78% over the past decade, according to a report from Henley & Partners and New World Wealth. They account for 37% of…

Content about luxury bag “dupes” — or similar products at a more affordable price point — surged on social media in April, according to a new report, with users looking for alternatives to some famous brands more than others.The recent report from Plot, a management platform for social media teams, found posts about luxury bag dupes increased tenfold between February and April this year. Plot used an AI tool to analyze 1,718 videos on TikTok and Instagram that mentioned luxury bag dupes or similar terms, like replicas or fakes, as well as more than 1,200 user comments.Plot’s report said Gen Z…

Transitioning to management might feel like a natural next step in your career. But Patrick Stokes, a Salesforce executive, cautions that it might not necessarily be the right path for everyone.”I think it’s easy for people to be enamored with the growth of kind of moving up the ranks, rather than the growth of themselves personally,” Stokes, the executive vice president of product and industries marketing, told Business Insider.Stokes, in a conversation during Salesforce’s Agentforce World Tour in New York City, said whenever people tell him they want to move into management, he asks them why. Usually, people say that…

Billionaire White House adviser Elon Musk listens during a May 21 press availability in the Oval Office with President Trump and South Africa President Cyril Ramaphosa. Chip Somodevilla/Getty Images hide caption toggle caption Chip Somodevilla/Getty Images A judge ruled Tuesday that a lawsuit alleging Elon Musk and the Department of Government Efficiency are illegally wielding power over federal government operations can move forward. U.S. District Court Judge Tanya Chutkan’s 42-page order in the lawsuit, filed by several Democratic state attorneys general, denies a motion to dismiss the case, but Chutkan did grant a motion to dismiss President Trump as a…

Don’t sound the death knell for ad agencies yet.Artificial intelligence threatens to upend the ad agency sector. Ever-improving tools are shortening the time it takes to produce logos, online ads, and even movies.In the soon-to-be-published book “AI First” by Adam Brotman and Andy Sack, OpenAI CEO Sam Altman is quoted as saying, “95% of what marketers use agencies, strategists, and creative professionals for today will easily, nearly instantly, and at almost no cost be handled by AI.”The agency world thinks differently. BI spoke to three top creative directors, who said AI is fueling a creative boom and that the technology…

Exchange-traded funds have amassed trillions of dollars by offering investors greater tax efficiency, liquidity and lower costs than mutual funds. Now, a looming regulatory shift is poised to bring the two vehicles closer together — and threatens to complicate the very features that fueled the ETF boom.The Securities and Exchange Commission is expected to approve applications for dual-share-class structures, perhaps as soon as this summer, allowing managers to add an ETF sleeve to an existing mutual fund. More than 50 firms, including BlackRock Inc. and State Street Corp., are waiting for the regulator’s greenlight to deploy the hybrid structure —…

2025-05-28T14:13:23Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Investor Barbara Corcoran found a buyer for her $12 million Manhattan penthouse in one day. The “Shark Tank” host bought the home for $10 million and spent more than $2 million renovating it. She will likely not make a profit and has said it doesn’t matter since “real estate is emotional.” Barbara…

2025-05-28T14:03:20Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Kimberly Guilfoyle is Trump’s nominee to be US ambassador to Greece. Her financial disclosure shows she made more than $1.7 million last year and is worth millions. Here’s what we known about Guilfoyle’s wealth. Kimberly Guilfoyle, the former Fox News host President Donald Trump nominated to serve as US ambassador to Greece,…

Influencer agency Whalar Group is expanding its education tools and offerings for creators by acquiring the platform Business of Creativity in a deal worth $20 million, the company told Business Insider.The acquisition is the influencer marketing and talent management company’s first since Salesforce CEO Marc Benioff and other investors bought a stake in the company at a $400 million valuation earlier this month. Whalar Group has not disclosed the size of that investment.Business of Creativity hosts online courses run by marketing and advertising industry leaders. The UK-based startup was founded in 2022 by Ben Lee, Immy Groome, and advertising veteran…

President Donald Trump is granting pardons to reality television stars Todd and Julie Chrisley, who were convicted of fraud and tax evasion, the latest offer of clemency to prominent figures accused of white-collar crimes.Trump communications aide Margo Martin posted a video to X showing the president on a call with the Chrisleys’ daughter, Savannah Chrisley, announcing his decision.”Your parents are going to be free and clean, and I hope we can do it by tomorrow,” Trump said. “I don’t know them but give them my regards and I wish them a good life.””I hear they’re terrific people, this should not…