The war in Iraq war spawned all sorts of charities to help returning soldiers. But Sheldon Adelson, the billionaire casino king, has decided to help the war effort in his own way: by bringing wounded soldiers to Vegas.
According to this Associated Press article by Oskar Garcia, Mr. Adelson brought 40 wounded soldiers from Walter Reed […]

When it comes to understanding the dysfunctions of wealthy families, Peter White is among the wisest. He’s spent more than 20 years counseling wealthy parents and privileged children about how to better understand the adverse effects of wealth and to search for more meaningful lives. He’s plied his trade at his own firm, as well […]

The complaint filed in the Emperors Club escort bust, which apparently nabbed Eliot Spitzer, casts a rare spotlight on the dealings between the wealthy and high-priced escort services. (See the Journal’s article on Mr. Spitzer.)
For one, the complaint makes clear that the wealth boom — and the explosion in the number of multi-millionaires — has […]

Jamie Johnson in New York (Credit: Thaddeus Harden)

My article on Saturday about Jamie Johnson and his new documentary, “The One Percent” generated loads of email from readers, and I wanted share some of the best.
Basically, the readers fell into two groups: those who praised Mr. Johnson for his courage in documenting wealth and inequality […]

There’s a juicy little scandal unfolding in in Liechtenstein — whose national slogan might as well be “Why Pay Taxes?”
According to several articles today, including this one in the Journal, a former employee of a Liechtenstein bank (apparently the nation’s largest bank, LGT) stole loads of data about wealthy clients who are using the country […]

Remember the 1980s when the Japanese seemed to be buying up all the real estate in New York and California? Or the 1970s when the Saudis seemed to be buying up all the Rolls Royces and gold faucets in the world?
These days, it seems like the Russians are emerging as the new kings of conspicuous […]

A friend of mine went to the Naples wine auction last week. Yet before the bidding started, he had the sudden urge to leave.
“It just felt wrong,” he said. “With the economy the way it is, and lots of people hurting, I wasn’t comfortable with people spending $5,000 for a bottle of wine and then […]

Microsoft has created a legendary number of millionaires and billionaires. Today, they potentially improved the fortunes of two more: Jerry Yang and David Filo.

Jerry Yang (Yahoo)

If Microsoft’s $44.6 billion offer for Yahoo results in a deal, Messrs. Filo and Yang — Yahoo’s co-founders and biggest inside shareholders — will see their wealth jump by more […]

When you’re young and rich, risk is your friend. At least that’s what the conventional wisdom tells us.
Yet a new study from Northern Trust shows millionaires in their 30s are better diversified across all asset classes than millionaires in their 50s and 60s are.
According to the study, Gen X investors between 28 and 42 with […]

America’s richest man, Bill Gates, takes the stage in Davos today to plead the case of the world’s poor.
The Microsoft chairman is unveiling a plan he calls “creative capitalism” — using market forces to better address the needs of the poor. It’s described by Rob Guth in the Journal today, and refines some of the […]