Millionaire | featured news

After selling his tech start-up for millions in the 1990s, Graham Hill lived in a mansion in Seattle stocked with expensive furniture, the latest gadgets, and flashy cars in the driveway. Hill still has the money, but now he lives in a sparsely-furnished, 420-square foot studio apartment in New York City — and he couldn’t be happier.

You can tell a lot by a country by how it deals with a new world of a plutocratic elite for whom national boundaries are but arbitrary lines on a map. And you can tell a lot about individual members of that elite by how they choose to deal with a world in which countries compete for their affections with low taxes.

Stephen Slevin's 22 months in solitary left him traumatized and weak, but he'll soon be a multimillionaire for his suffering.

Millionaire spaceflier Dennis Tito has worked out a plan to send two astronauts to Mars and back without stopping — but the 501-day flight plan won’t work unless it launches in 2018.

California’s top earners are now facing a combined 51.9 percent federal and state income tax — the highest rate in the nation — a cause for grumbling and, maybe, an incentive to move.

A Powerball winner has 180 days to pick up their prize, but a Highland, Ind., man didn't bother to waste a single day after winning $1 million in Wednesday's Powerball.
Larry Chandler, 34, was one of the first people through the door at the Indianapolis lottery headquarters Thursday morning after discovering he was one of the big winners in the $587.5 million drawing. But the union electrician says he'll be back at work on Monday -- after he hires a tax adviser and a financial planner.

Warren Buffett, the legendary investor who changed the debate about U.S. tax reform in 2011 with a call for the rich to pay more, is now calling for minimum tax rates for millionaires.

Clearly tired of being dissed, vilified and attacked for her wealth, the outspoken Ms. Rinehart wrote an article full of unapologetic statements of economic truth. A choice sample: “There is no monopoly on becoming a millionaire. If you’re jealous of those with more money, don’t just sit there and complain. Do something to make more money yourself—spend less time drinking, or smoking and socializing and more time working.”

As we have noted, the problem is more symbolic than real. Most very wealthy people pay a good chuck of their income in taxes. Reid in his statement pointed to “7,000 millionaires” who paid no federal income taxes, which is not very much out of the nearly 250,000 taxpayers who file income taxes with adjusted gross income of $1 million or more.

Florida millionaire John Goodman was found guilty Friday after being accused of driving drunk, hitting another vehicle and running it off the road into a canal, where its driver was later found dead in his submerged car.