Word: riche
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...many countries, the publication of lists of ultra-rich citizens is an annual business ritual that stirs few emotions beyond pride and envy (depending on whether you made it onto the list or not). But in Vietnam, a communist country in the midst of a capitalist makeover, personal wealth remains a touchy subject. After online news site VNExpress recently produced the country's first-ever ranking of the 100 Richest People in Vietnam, several moguls complained. "I wish they would have asked us before publishing," groused Nguyen Duy Hung, CEO of a Ho Chi Minh City brokerage firm...
...common as it once was. As recently as five years ago, many wealthy Vietnamese officials took pains to disguise their net worth; they rode motorbikes to work and turned assets into gold bars that were hidden in their modest homes. "Society was not in favor of rich people," says Pham Chi Lan, an economist in Hanoi. "They did not dare expose their wealth." Today, BMWs and Mercedes are frequently seen on the streets of Hanoi, and there's a construction boom of luxury villas. The annual publication of a list of the country's richest people seems like just another...
Recording his city's rich architectural heritage has been a demoralizing task for Shanghainese photographer Deke Erh. While Art Deco buildings in Miami, New Zealand's Napier and even the Eritrean town of Asmara are lovingly tended, Shanghai has demolished scores of equally historic structures in its headlong rush for modernity. "I've been taking photographs of old Shanghai for 20 years, and I've continually seen these things torn down," says Erh. "But I still have hope. Even today, Shanghai has more Art Deco buildings than any other city in the world. If I didn't have hope...
While Branson was hitting the beach with future passengers, his competitors-- smart, rich and innovative like him--were busily at work plotting to beat him into space. Amazon founder Jeff Bezos just tested his first prototype for personal space travel in West Texas. John Carmack, co-creator of the Doom and Quake games, is test-firing rockets for the next generation of spaceliners and lunar landers near Dallas. In California, Jim Benson, founder of Compusearch, is developing a space taxi with a motor that runs on rubber and laughing gas. (Don't laugh. It works.) PayPal co-founder Elon Musk...
Since Bush lowered top marginal tax rates from 39.6 percent to 35 percent in 2002 , the wealthy have been flush with cash. Most liberals believe it’s criminal that the rich pay so little in taxes, while social expenditures for the poor have been slashed. The percentage of income going to top earners has skyrocketed, and the middle-classes are entering a period of unprecedented precariousness. What is needed, they maintain, is a more “fair” tax system...