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Phantom Wallet has expanded its support to the Sui network, enhancing its multichain capabilities alongside Bitcoin, Ethereum, Polygon, and Base. This integration comes as Sui's value has surged over 100% in the past month, now boasting a market cap of $10.8 billion and ranking eighth in total value locked at $1.5 billion. Phantom's CEO praised Sui's scalability and developer-focused solutions, indicating a promising future for both platforms.
A historic intergenerational wealth transfer of approximately $105 trillion is set to occur in the United States over the next 25 years, according to Cerulli Associates. This staggering amount is comparable to the global GDP for 2023, yet most Americans are expected to inherit little from this windfall.
Abu Dhabi’s ruling Al Nahyan family has acquired a mansion in London’s Holland Park for £61.5 million ($78.1 million), one of the year’s priciest residential purchases in the city. The luxurious property features a swimming pool and a cinema room, according to sources familiar with the transaction.
A UBS study reveals that the number of billionaires surged by 50% over the past decade, reaching 2,682 in April 2024, with their total wealth more than doubling to $14 trillion. Tech billionaires led this growth, tripling their wealth to $2.4 trillion, driven by advancements in industries like AI and robotics. Looking ahead, 40% of billionaires plan to invest more in real estate and equities, while others are considering safe havens like gold amid rising geopolitical risks.
A Dubai-based digital platform, Stake, is set to invest 1 billion riyals ($266 million) in Saudi real estate over the next six months, capitalizing on growing foreign interest. The firm is acquiring a fully-rented mall in Riyadh for 187 million riyals and plans to purchase a residential tower with over 140 apartments for 200 million riyals.
Billionaires are facing uncertain times as their wealth growth stagnates, primarily due to economic challenges in China and rising interest rates. The number of billionaires has plateaued at 2,682, while their collective wealth has reached $14 trillion, outperforming global stock markets. As governments consider higher taxes, many billionaires are relocating to countries like Switzerland and the UAE, with a focus shifting towards generative AI and renewable energy.
Billionaires are facing uncertain times as their wealth growth stagnates, with the number of individuals worth over a billion rising to 2,682 but remaining unchanged since 2021. The UBS report highlights challenges such as higher taxes, geopolitical tensions, and a shift in focus towards generative AI and renewable energy, while real estate fortunes lag behind. Since 2020, 176 billionaires have relocated, favoring countries like Switzerland, the UAE, and the USA, amid a backdrop of economic and political changes.
Baskin Robbins is focusing on expanding its snacking portfolio in India, which currently accounts for 6-7% of its sales, with products like ice cream sandwiches and bars. The company aims for an overall sales growth of 14-15% in the coming years, building on its presence since 1993 through a joint venture with Graviss Foods Pvt Ltd.
The censure of Michel Barnier's government has halted the examination of the 2025 Finance Bill, risking delays in health insurance reimbursements and potential payment suspensions for social security benefits. Political instability is also expected to affect mortgage rates and the PTZ program, crucial for first-time buyers, as households may delay real estate projects amid uncertainty.
Healthcare real estate is poised for growth, driven by declining inflation and a robust economy, encouraging investor interest. The role of private equity is increasingly seen as beneficial, enhancing transaction efficiency and credit decisions. Additionally, healthcare systems are advised to monetize real estate assets and focus capital investments on core operations for better value.
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