Word: wealthiest
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...making it the world's third largest biotech company after Amgen and Genentech. "My father created a platform, and I launched myself from it," says Bertarelli, now 37. The stake he holds together with his mother and sister is worth about $4.4 billion, placing the Bertarellis among Europe's wealthiest families--and providing Ernesto with more than enough to fund his sailing ambitions. Just last month, he and his crew won their sport's greatest prize, the America...
...Oreal. A study by Merrill Lynch and Cap Gemini Ernst & Young estimates that 2.5 million Europeans had financial assets of more than $1 million in 2001, compared with 2.2 million North Americans. There are more American billionaires than European ones, but in a comparison of the wealthiest people on both sides of the Atlantic, Cap Gemini found that 37% of those in Europe had inherited money, compared with 21% of the Americans...
...tale of the four Benetton siblings--Luciano, Giuliana, Gilberto and Carlo--who launched their clothing empire by knitting sweaters at the kitchen table at night, has become legendary in Italy; they currently rank among Europe's wealthiest families. Color was the key to their success. Luciano, 67, the eldest, has said he couldn't bear to see young women in the 1960s dressing like their mothers and young men still decked out in gray. The bright, cheerful knitwear they produced was a hit in Italy, and soon they were exporting around the world, their products increasingly accompanied by provocative...
Bush’s strategy of making an outrageous starting offer and only having to budge a little is playing out all over again with his proposal to eliminate dividend taxes. The president’s latest Reaganesque tax scheme has massive benefits for wealthiest Americans who own stock outside of tax-protected retirement funds. This proposal is so far out of step with mainstream public opinion that even Republican legislators are questioning how wise the president’s plan is. But, as the pattern predicts, the debate on Capitol Hill is not about whether cutting taxes makes...
It’s déjà vu all over again with President Bush’s new tax plan. Under the guise of an economic stimulus to help all Americans, more than $300 billion will go to the wealthiest 5 percent. The administration’s latest tax proposal is exactly the wrong kind—more permanent tax cuts for the rich—at exactly the wrong time, when America is facing short- and long-term budget crises. The Democrats in the Senate should do their utmost, filibustering if necessary, to prevent the plan from becoming...