Author: Sam Allcock
A lot of things about Andrea Mitchell’s financial story don’t make sense. She was the type of journalist who, for decades, was physically dragged out of Khartoum press conferences because she asked questions that dictators didn’t like. That doesn’t really sound like the life story of someone who is worth $20 million. Still, here we are. Andrea Mitchell’s net worth is thought to be $20 million, but that number includes the money she had with her late husband, Alan Greenspan, who was Chairman of the Federal Reserve and died in 2026. It was said that Mitchell’s annual salary at NBC…
Corporate pay cuts are kind of like being in a play. When the company says one, the percentage makes the number sound big. Then someone does the math and figures out that the executive is still making more in one year than most people will make in their whole careers. That’s pretty much what’s going on with Singtel’s Group CEO Yuen Kuan Moon right now, and the way people are reacting, which is a mix of real anger and dry Singaporean humor, is telling in its own way. The annual report for Singtel, which came out at the end of…
There was supposed to be a party. I was twenty years old and in Katy, Texas, with my friends. It felt like I had a full life ahead of me. By 2:20 a.m. on June 23, 2026, that night had changed into something else: a fatal crash with a dead man and a young driver who now faces a felony charge that could change his life forever. Several news outlets looked at court documents that showed Dejon Fortune had spent the night at a birthday party close to Tompkins High School. He drove to a Taco Bell on Westheimer Parkway…
In the past, critics wrote about Rob Schneider in terms of lowbrow comedy, forgettable movies, and being the guy next to Adam Sandler. That version isn’t completely wrong, though. It doesn’t explain, though, how Schneider has a net worth of about $10 to $12 million after 30 years in a business that throws away comedians without a second thought. We should look at that number more closely than we do now. Schneider grew up in Pacifica, a coastal suburb just south of San Francisco. It’s the kind of place where you have to make your own ambitions because nobody there…
The Indian man Kandha Samy Ragupathy left his village when he was 23 years old. In those days, he worked as a farmer, got married young, and felt the quiet, heavy weight of wanting more for his family. He got to Singapore without having to pay the agent fee, which is something that many of his peers today can’t say since it costs $13,000. He built a life here, brick by brick and wire by wire, for 27 years. After that, the pay stopped coming in. His story is not the only one like it. In fact, this is one…
There’s a little something unsettling about the number 0.3%. That is the real tax rate, expressed as a share of wealth, that the world’s richest people pay right now. Not 30%. Not even 3%. The number comes from research that was paid for by the Brazilian government and was led by the French economist Gabriel Zucman. It has a way of stopping conversations in their tracks. The wealth tax idea that is at the heart of the G7 and G20 debate is simple to understand on paper. People who are worth more than $1 billion would have to pay a…
Powell doesn’t get scared. That’s always been a part of his style—careful with words in a way that can only come from someone who knows how to make markets hang on every syllable. Thus, when he spoke at his last press conference as head of the Federal Reserve and said that the economic outlook was “highly uncertain,” it wasn’t a casual statement. It was pretty much the only alarm Powell would ever set off in public. It looks like markets weren’t paying attention. Since late 2023, this is the longest winning streak for the S&P 500. It has now been…
After hearing Oprah Winfrey tell the same story several times, it still hits you in a new way each time. She is said to have taken out a piece of paper and written down her wish to one day own her own home while filming The Color Purple in 1985… Not a hotel room. Not a rental. She wanted to find a real place that would “inspire and elevate” her. The quiet, private urge that led to this became the first piece in what is now one of the most amazing personal real estate portfolios in the country. Forbes says…
For years, financial news has been telling millennials that they will be saved at a later date. Over the next 20 years, $90 trillion will flow down the family tree from baby boomers and the Silent Generation. The numbers are really scary. It looks like the conclusion is clear. The story goes that millennials are going to be the richest generation ever. It’s an interesting story. It’s also not what it seems to be in important ways. The promise is based on real math, but it doesn’t take into account a problem that can’t be fully captured by a spreadsheet:…
$383 million is a number that keeps coming up whenever LeBron James is brought up in business setting. That’s how much he made in the NBA over 19 years, with three teams, four championships, and a lot of MVP debates. It’s a huge amount by any standard measure. The really strange thing about LeBron’s money story is that $383 million is not even close to the whole picture. Forbes says that James has made more than $900 million just from endorsements and business deals. He makes more than $1.2 billion a year before taxes, which makes him one of only…