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July 16, 2024
 

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WEALTH

The home of the National Tax Agency in Tokyo
JAPAN
Nov 23, 2023
Undeclared income of Japan's wealthy hits record high
By occupation, business management consultants hid ¥33.67 million per person, topping the list of income concealers for the second year in a row.
A new study challenges conventional wisdom on income inequality and questions if the top 1% are really pulling away.
COMMENTARY / World
Nov 21, 2023
America’s top 1% don’t make as much as you might think
A new study challenges conventional wisdom on income inequality and questions if the top 1% are really pulling away.
A Tiffany store in Shanghai. Luxury companies are targeting VIC's, or very important clients, as China's post-pandemic economic slowdown dries up the spending power of the middle class.
BUSINESS / Economy
Nov 20, 2023
Exclusivity the name of the game as firms target China's wealthiest
Brands are focusing on selling fewer, more valuable items, relying on luxury consumers.
Petr Aven in Moscow to attend Russia Business week in in 2018
WORLD / Crime & Legal
Nov 1, 2023
Squeezed by sanctions, some oligarchs head home to Putin's Russia
The penalties have destroyed the standing of many wealthy Russians abroad who remained silent or avoided direct criticism of Putin over the war.
The possibility of tourists being able to skip the Tokyo traffic and get to Mount Fuji in 30 minutes, by private helicopter to Kawaguchiko in Yamaguchi Prefecture, has been suggested.
BUSINESS
Oct 17, 2023
Japan targets ultrarich travelers to boost regional revival
Luxury travelers offer an opportunity for lesser-known destinations to showcase their unique culture, some in the industry have said.
For all the scrutiny at home, many of China’s richest new grads are turning their backs on their lives abroad. Sometimes, they’re responding to the lure of China’s potential. Other times, it’s the alienation they feel overseas.
ASIA PACIFIC / Politics
Sep 22, 2023
China’s wealthy youth flock home as tensions with U.S. rise
For all the scrutiny at home, many of China’s richest new grads are turning their backs on their lives abroad.
Many of the wealthy in Japan are becoming more keen to park their cash in private assets like equity, credit and real estate that aren't traded in public markets.
BUSINESS
Sep 20, 2023
Brokers tap demand for private assets among Japan's wealthy
Private assets are booming globally after decades-high inflation and rapid interest-rate hikes weighed on both shares and bonds.
The AI initiative is part of Morgan Stanley's strategy to drive its wealth division, where net revenue surged 16% to a record in the second quarter and new client assets grew $90 billion.
BUSINESS / Tech
Sep 8, 2023
Morgan Stanley to launch AI chatbot to woo wealthy
The bank will roll out a generative artificial intelligence bot this month, developed with the makers of ChatGPT, OpenAI
Over the last decade, the attention given to falling income and wealth inequality has been tiny, creating a view of the issue that may be seriously out of date.
COMMENTARY / World
Aug 29, 2023
We should concentrate on fighting poverty, not income inequality
Wealth inequality has recently gone down in the U.S. and the West, and the decline has been going on for the better part of the last decade.
While privilege may always exist to some extent, efforts can be made to create a more equitable and humane society.
COMMENTARY / World
Aug 29, 2023
We can move toward a post-privilege era. Who’s in first?
Privilege should be earned and shared, and it's not something that can be confined to a quiet street or an isolated island.
People lie passed out on a sidewalk in the Tenderloin district of San Francisco in February 2020.
COMMENTARY / World
Aug 8, 2023
Is America’s soft power eroding?
San Francisco has changed from a hub of hippie culture and freedom in the 1960s and '70s, suggesting America's soft power is abating.
Many of the entrepreneurs who’ve become superwealthy are now seeking to manage and transfer riches to their descendants in Asia. That’s resulting in a surge in family office demand.
ASIA PACIFIC
Jul 31, 2023
Asia’s richest families fuel race for lucrative finance jobs
Many of Asia's superwealthy are now seeking help managing their estates just as old-money families in the West have done for decades.
Japan Times
BASKETBALL / NBA
Jul 11, 2023
Adam Silver determined to keep individuals in control of NBA franchises
Per the NBA's investment rules, the controlling owner of an NBA franchise must own at least 15% of the franchise.
Japan Times
SOCCER
Jul 4, 2023
Neymar fined $3.3 million for building lake at mansion
Authorities cordoned off the site and ordered all activity to cease, but Brazilian media reported that the PSG star threw a party there and bathed in the lake.
Japan Times
JAPAN
Jul 3, 2023
Japanese lawmakers' average income falls to ¥21.5 million
In the House of Representatives, the average income stood at ¥22.15 million, while that of the Upper House was ¥20.16 million.
Japan Times
BUSINESS
Jun 30, 2023
Top auto executives in Japan are paid a lot, but not as much as their U.S. counterparts
Japan boasts some of the world’s biggest carmakers, but pay packages for their executives pale in comparison to industry leaders in the United States.
Japan Times
JAPAN
Jun 25, 2023
Japan's population of superrich to shrink in next five years, report says
As the overall population declines, Japan is the only G7 nation that's projected to see its number of ultrawealthy individuals fall.
Japan Times
JAPAN
May 28, 2023
Japan to ease airport rules for foreign private jet arrivals
Japan will ease landing and other access procedures at airports for foreign private jets that arrive in the near future in hopes of attracting more big-spending tourists.
Japan Times
BUSINESS / ANALYSIS
May 5, 2023
Fewer luxury shoppers but bigger spenders as Chinese return to Europe
Those trickling back to Europe are mostly business travelers and wealthier people who have the means to travel 'a bit differently.'
Japan Times
COMMENTARY / Japan
Apr 26, 2023
Buffett and other billionaires say Tokyo is worth revisiting
Interest in Japan from some of the U.S.’ richest investors is reviving talk of the nation's capital as a financial center. It’s a good start.
Who needs AI when you have Hatsune Miku?
Over the first six months of 2024, a handful of songs using Vocaloid singer Hatsune Miku’s voice have enjoyed widespread attention, underlining a global interest in the character and the technology she represents.
Bloodied Trump survives assassination attempt at political rally
Former U.S. President Donald Trump is surrounded and evacuated by Secret Service agents at a campaign rally in Butler, Pennsylvania, on Saturday. Trump was rushed off stage at the rally after shots rang out.
Shooter came within inches of killing Trump, but left few clues as to why
An aerial view shows the stage where Republican presidential candidate and former U.S. President Donald Trump had been standing during an assassination attempt the day before, and the roof of a nearby building where a gunman was shot dead by law enforcement, in Butler, Pennsylvania, on Sunday.
Yen’s woes seem too big for even a BOJ hike this month to solve
The Bank of Japan headquarters in Tokyo
How to beat Japan’s summer heat in ways better for the planet
Tenugui towels hang up to dry at a dyeing company in Sakai, Osaka Prefecture, on May 8. The durable and versatile tenugui, which many people have in their homes, can be used in many ways to cool one’s body.
The neurological disorder that 'kills culture'
Akiko Trush says her experience with the neurological disorder dystonia left her feeling like she wanted to chop her own hand off.
How to beat Japan’s summer heat in ways better for the planet
Tenugui towels hang up to dry at a dyeing company in Sakai, Osaka Prefecture, on May 8. The durable and versatile tenugui, which many people have in their homes, can be used in many ways to cool one’s body.
After Trump shooting, U.S. presidential race might take a violent turn
United States Secret Service Counter Snipers stand guard on a rooftop during a campaign rally for U.S. President Donald Trump in Avoca, Pennsylvania, in 2020.
No AC this summer? No problem (for me).
Think air conditioning is a requirement for a Tokyo summer? Think again.
She’s paying ¥1 million to help behind the scenes at the Paris Olympics
Mai Tarumi, who previously volunteered at the postponed Tokyo Olympics in 2021, has a travel budget of ¥1 million for her trip to volunteer at the Paris Games.

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Longform

Akiko Trush says her experience with the neurological disorder dystonia left her feeling like she wanted to chop her own hand off.
The neurological disorder that 'kills culture'
By Tomoko Otake

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