Robert Frank
4,238 posts
Robert Frank
@robtfrank
CNBC Wealth Reporter, Best-selling author of “Richistan,” former WSJ.
- UK to create new “Registry of Foreign Entities” requiring anonymous buyers of real-estate over the past 20 years to disclose the name of true owner. Aimed at Putin’s oligarchs and money-laundering. #Oligarchs reut.rs/3vkohqV
- Elon Musk could become the richest man in the world tomorrow. He’s only $3 billion behind Bezos. If Tesla shares gain more than 1.6%, he surpasses Bezos at $184 billion.
- The combined state and federal top tax rates under new Dem proposal: NYC — 61.2% California — 59.7% New Jersey — 57.2%
- The moment we may all remember, shows the power of @jimcramer and @CNBC - Jim calls for the federal government to back liquidity and credit. Instantly gets phone call on live TV, returns to say the White House is discussing his plan.
- Elon Musk gained more wealth in 2020 than Bill Gates’ entire net worth — $142 Billion vs $132 billion.
- Jeff Bezos says he’s moving to Florida to be closer to his parents. Another reason — taxes. Washington State has a new 7% tax on capital gains so he will owe $70 million in state taxes for every $1 billion of Amazon stock he sells. And he sells a lot.
- Whitney Wolfe Herd’s stake in Bumble is now worth $1.5 billion, making the 31-year-old one of the youngest self-made female billionaires ever.
- 956 classic cars selling in the next 3 days, estimated at over $400 million with a record 142 asking $1 million or more. Pebble Beach/Monterey will mark a big test for over-heating prices in the collectible car market. cnb.cx/3c56ug9
- Hyper-inflation in luxury: Chanel raised the price of its Classic Flap Bag 3 times last year, from $5,200 to $8,200. “We’ve seen absolutely no consumer resistance to any or the price increases” in luxury. on.wsj.com/3rt96JJ
- Mnuchin tells @JohnJHarwood the Estate Tax hurts "lots of farmers and small family businesses." By "lots" he means 80 out of 5,400.
