A new private membership club in Washington, D.C., co-founded by Donald Trump Jr., is charging a $500,000 membership fee — and there's already a waiting list.The club, called Executive Branch, held a launch party on Saturday night that included at least a half dozen members of President Donald Trump's administration...
Category: Wealth
Shares of Gucci-owner Kering drop after first-quarter sales slump
A Gucci luxury boutique in Paris, France, on Tuesday, Oct. 22, 2024. Bloomberg | Getty ImagesShares of Kering fell on Thursday after the French luxury goods group posted lower than expected first-quarter sales and pointed to further macroeconomic headwinds ahead.Revenues at the fashion giant plunged 14% year-on-year in the first quarter to 3.9...
Luxury firms face tariff hit as recession fears mount
A customer carries merchandise from a Hermes store on Feb. 14, 2025.Scott Olson | Getty ImagesEurope's beloved luxury brands may be largely sheltered from the initial effects of sweeping U.S. tariffs, but the risks of a wider economic downturn spell bad news for the sector's long-awaited recovery.Shares of European luxury...
Manhattan’s luxury real estate market sees best first quarter in six years
People walk by a view of residential luxury towers along nicknamed Billionaires Row, a stretch of 57th Street that holds the majority of Manhattan’s supertall luxury towers on May 16, 2022 in New York City. Spencer Platt | Getty Images News | Getty ImagesManhattan apartment sales jumped 29% in the first...
Ferrari says it will raise prices by 10% on some models to offset auto tariffs
The Ferrari logo is seen outside the Ferrari headquarters in Maranello, Italy.Ciancaphoto Studio | Getty Images Sport | Getty ImagesFerrari said Thursday it will raise prices by 10% on certain models after April 1 in response to new U.S. auto tariffs, adding up to $50,000 to the price of a...