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Gulf investors seen likely to keep funding Africa renewable energy despite the Iran war
Renewable energy projects in Africa that depend on Middle Eastern sovereign wealth funds and state-backed companies will likely press ahead despite the Iran conflict, analysts say, thanks to the continent's surging appetite for power and fuel.
Bain Capital to Acquire Australian Wealth Management Business
Bain Capital will pay more than US$349 million to acquire an Australian wealth-management business from local investment manager Perpetual.
Markwayne Mullin, Trump’s Homeland Security Pick, Got Wealthier Stock Trading in Congress
Markwayne Mullin’s financial dealings take on new importance as the Senate considers his nomination to lead an agency whose budget has vastly expanded.
Washington passes "millionaires tax" despite concerns of wealth flight
Following a 24-hour marathon session, Washington lawmakers passed a 9.9% tax on high earners. Gov. Bob Ferguson calls it "historic progress" for working families.
Ultrawealthy Consider $500 Million Fund to Influence California Politics
Silicon Valley billionaires have been seething over the threat of more taxes and regulations at home. Now, a proposed nine-figure fund aims to give wealthy Californians an unprecedented tool to reshape the state’s politics in their favor.
What's shaping the K-shaped economy: Spending, jobs, income, credit
The K-shaped economy is growing more lopsided. Wealthy Americans splurge on travel and events; lower- and middle-income people cut back on groceries.
Hochul says new taxes could drive wealthy out of N.Y.
But Hochul said she's not against the theoretical idea of raising taxes on the rich.
Epstein's longtime accountant testifies on his wealth and business ties
House lawmakers were digging into Jeffrey Epstein's sprawling financial portfolio Wednesday as a committee deposed his former accountant.
Epstein's longtime accountant testifies on his wealth and business ties
House lawmakers were digging into Jeffrey Epstein's sprawling financial portfolio Wednesday as a committee deposed his former accountant and tried to understand his connections to some of the world's ...
Young Africans score higher than Americans on 'mind health,' new study finds: Wealth ‘not an indicator’ of well-being
A new Sapien Labs study found that young people in Ghana and Nigeria are much more able to function than those in the U.S.
Veterans Business Outreach Center provides programming for incarcerated veterans
The Veterans Business Outreach Center at Penn State is establishing partnerships with State Correctional Institutions across the commonwealth to help build, grow, and enhance entrepreneurial education programming for incarcerated veterans.
Veterans Business Outreach Center provides programming for incarcerated veterans
The Veterans Business Outreach Center at Penn State is establishing partnerships with state correctional institutions across the commonwealth to help build, grow, and enhance entrepreneurial education programming for incarcerated veterans.
Kathy Ireland Accuses Business Managers of Looting Her Wealth
Kathy Ireland and her husband sued their longtime business managers, saying they had looted millions of dollars and left them deeply in debt.
Dubai, oasis for business and partying, confronts war
Iranian airstrikes have shaken Persian Gulf countries, undermining their reputations as havens of wealth and stability and forcing them to take sides in a war they opposed.
Legislature wants higher tax on wealthy, big business, according to proposals
In a new memo obtained by NY1, City Hall is pitching individual lawmakers to back billions of dollars in new taxes on millionaires and big corporations.
Epstein used his ties to Nobel laureate scientists to try to rebuild his image
A 2006 conference for physicists in the U.S. Virgin Islands that included a trip to Jeffrey Epstein's private island shows how he used his wealth to build relationships with prominent scientists.
Epstein used his ties to Nobel laureate scientists to try to rebuild his image
A 2006 conference for physicists in the U.S. Virgin Islands that included a trip to Jeffrey Epstein's private island shows how he used his wealth to build relationships with prominent scientists.
Billionaires Made 19% of Federal Election Campaign Contributions in 2024
Billionaires made 19 percent of all reported federal campaign contributions in 2024, a Times analysis shows, and even more in some local elections. Wealthy donors are reaping the rewards.
Cem Özdemir, first German state premier with Turkish roots
Cem Özdemir is set to become the first politician with Turkish roots to lead a German federal state. His Green Party won elections in the wealthy southwestern region of Baden-Württemberg.
As WA grocery stores shutter, lawmakers struggle to respond
Four of five bills in the Legislature meant to prevent grocery closures stalled out under industry pressure, in a short session dominated by a wealth tax debate.
A ‘Small Family Business’
Alan Ayckbourn’s ‘A Small Family Business’ arrives at SBCC Theatre with fast-paced farce and a dark look at wealth, corruption, and family loyalty.
Book Talk: Women’s History Month brings a wealth of book titles
Book Talk columnist Jean Greenlaw rounds up inspiring nonfiction works, historical fiction and biographical picture books for Women's History Month this March.
Meet Chad Olivier, one of the Capital Region 500
Chad Olivier has been working in the Capital Region financial services industry for more than 25 years. Originally a stockbroker, he pivoted to financial advising to focus more on building relationships with clients. Today, Olivier owns the wealth management firm The Olivier Group. His professional involvement extends beyond the office to his membership in the […]
Morgan Stanley to Cut 3% of Workforce Across All Business Lines
Morgan Stanley is cutting about 3% of its workforce, with the global cull impacting employees in its investment banking and trading businesses, as well as its wealth and asset management operations.
Morgan Stanley to Cut 3% of Workforce Across All Business Lines
Morgan Stanley is cutting about 3% of its workforce, with the global cull impacting employees in its investment banking and trading businesses, as well as its wealth and asset management operations.
Virginia Science Olympiad at UMW Celebrates STEM Learning Across the Commonwealth
Eliora Teshome held her breath while her balsawood bridge was put to the test. The Lake Braddock Secondary School student from Burke, Virginia, had worked for months – in her school’s testing lab, during library hours and late at night – with fellow eighth-grader Rebecca Huang to build the miniature model into a winning weight-bearing […]
California businesses and left-leaning groups clash on the ballot and in court
This year's contests of businesses versus liberal groups include corporate and wealth tax proposals and requirements for greenhouse gas emission reports.
Progressive lawmakers Bernie Sanders, Ro Khanna unveil $4.4T wealth tax targeting billionaires
Progressive lawmakers Bernie Sanders and Ro Khanna unveil a 5% annual wealth tax on billionaires' assets exceeding $1 billion to fundamentally reshape America's current tax system.
Illinois cannabis shops warn of existential threat from vague rule change
Small cannabis companies fear a possible rule change by the state could empower wealthy competitors to set up shop near them, which could be a death knell.
Business briefs: Yeo & Yeo honored; Dow CU hits 1K customers
Yeo & Yeo is proud to announce that Andrew Matuzak, CPA, PFS, principal and director of Yeo & Yeo Wealth Management, has been honored as one of eight recipients of the 21st Annual RUBY...
The great (small business) wealth transfer: McKinsey sees $5 trillion of baby boomer companies coming up for sale over the next decade
Move over, Great Wealth Transfer. The McKinsey Institute for Economic Mobility sees the next decade as make or break for the Great Ownership Transfer.
The 'Great Wealth Transfer': A $3 trillion opportunity for Black business owners is on the horizon
Researchers forecast 6 million small- and medium-sized businesses, or SMBs, will be available for acquisition by 2035.
HSBC Earnings: Robust ROTE Underpinned by Strong Wealth Business
We raise our fair value estimate for HSBC stock.
Singapore's OCBC bank explores physical gold custody business for institutional, wealthy clients
Singapore's Oversea-Chinese Banking Corp is exploring setting up a custody business for physical gold geared toward institutional and high-net-worth clients, as demand for its app-based trading product accelerates, senior executives said on Wednesday.
$4B Gerber Kawasaki to Use Altruist for New Business
The RIA will also use Altruist’s AI platform, Hazel, which triggered a selloff in traditional wealth management stocks a few weeks ago.
Integrated Partners Launches Integrated Private Wealth to Guide Business Owners Through High-Stakes Transitions
BOSTON, February 24, 2026--Integrated Partners ("Integrated"), a national financial planning and registered investment advisory (RIA) firm serving more than $25 billion in assets under advisement (AUA), has announced the launch of Integrated Private Wealth, a new private wealth brand purpose-built to guide business owners and their families through complex, high-stakes liquidity events and regret free transitions.
Is the YIMBY movement doomed?
For decades, rising home prices have been an engine for middle-class wealth. Now a growing movement wants to slow — or even reverse — that trend. Are the politics around new housing development inherently stacked against them?
Integrated Partners Starts Business-Focused Private Wealth Unit
The RIA has formalized an Integrated Private Wealth division that leverages its CPA network to guide small business owners through exit.
Mamdani’s Vanquished Foes Are Plotting a Comeback, if Not Revenge
Many of New York City’s wealthy and well-connected power players find themselves in an unfamiliar place: the wilderness.
Upstate pols question $1.5B NYC boost vs. $150m upstate
The additional funding came as Hochul has steadfastly resisted calls from Mamdani and other progressives to raise taxes on the wealthy
Upstate pols question $1.5B NYC boost vs. $150m upstate
The additional funding came as Hochul has steadfastly resisted calls from Mamdani and other progressives to raise taxes on the wealthy
Black-owned financial business plans Historic Southside relocation
A Fort Worth financial management company is moving from the Woodhaven neighborhood to the 1100 block of East Rosedale Street.
Equinox's $40,000-a-year membership has a waiting list, says chairman Harvey Spevak
Harvey Spevak, Equinox's executive chairman, said demand for "Optimize" memberships highlights the "insatiable" demand by the wealthy for wellness offerings.
Pa. workers spend larger cut of income on employer-sponsored health benefits, new report shows
Some Pennsylvania workers spend about one in every $10 on employer-sponsored health insurance, according to The Commonwealth Fund.
Africa’s wealthiest billionaire commits $1 million to a scholarship fund for business graduates
Africa’s richest man, Aliko Dangote, has committed $1
Walmart delivers another quarter of impressive sales but offers a muted outlook
Walmart delivered another standout quarter as the promise of lower prices and speedy deliveries drew in a broader spectrum of Americans during the critical holiday shopping period, including wealthier households.
GOP lawmaker proposes measure to block key element of proposed California wealth tax
Kiley says he will introduce the 'Keep Jobs in California Act of 2026.' It would prohibit any state from levying taxes retroactively on people who no longer live there.
Mamdani: NYC property tax hike is 'last resort' to balance budget
Without a tax on the wealthy or big corporations, NYC Mayor Zohran Mamdani may have to hike property taxes instead.
Why Is Mamdani Threatening a Property Tax Hike?
The mayor says the city will be forced to raise property taxes if Governor Hochul and Albany refuse to increase taxes on the wealthy.
VCU Health inpatient tower expands to 16 stories, nearly 600 beds
Virginia Commonwealth University (VCU) is in the early planning stages to add eight additional stories to its inpatient tower, expanding the initial facility into a 16-story tower with nearly 600 b…
Liam Neeson is 73 and still in action hero shape. It's saved his life.
The actor talks about his new movie, "Cold Storage," what part of "Love Actually" grabs him and why, at 73, "health is wealth."
Wealth battles science in climate debate
Reader commentary: Climate change deniers can’t take the high ground on intellectual integrity.
Pennsylvania’s workers see more of their paychecks go toward health insurance
Some Pennsylvania workers spend about one in every $10 on employer-sponsored health insurance, according to The Commonwealth Fund.
California’s billionaires pour cash into elections as big tech seeks new allies
As Gavin Newsom departs, ultra-wealthy flex wealth and influence to fight regulation and keep the boom going
“Smart Business” or “Bullying.” Taylor Swift Just Shut Down a “Swift Home” Trademark
Taylor Swift moved to block a bedding company’s “Swift Home” trademark. Within days, Cathay Home Inc. abandoned its federal trademark application. Swift’s team argued the ... Read More
HBO series navigates personal transformation, self-love [Unscripted column]
Many of us have given up hope of cracking the top 1%. Apart from a lottery win, billion-dollar wealth will remain forever out of reach for the mass of humanity,
Karrin Taylor Robson Ends Bid for Arizona Governor, Showing MAGA’s Power
Karrin Taylor Robson, a wealthy businesswoman, dropped out after trailing in polls to Representative Andy Biggs, who is more aligned with supporters of President Trump.
Veritage Issues Research Report on The Missing Link in Family Business Transitions
Veritage report shows emotional disconnection in wealthy business families, urging dialogue and governance to protect relationships and transitions Photo Courtesy of Veritage HAMILTON, Bermuda, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Veritage International has released a new research report that examines key hidden risks facing business families around the world. Missing Link in Family Business Transitions: How Emotional Disconnection Threatens Family Legacy report identifies a major disconnect betwee
Virginians can help science take flight during bird count weekend
Bird lovers across the Commonwealth are invited to help scientists track bird populations during the Great Backyard Bird Count, a global citizen science event running Feb. 13–16, 2026. In Virginia, p...
Commonwealth Bank’s Profit Tops Estimates as Business Loans Grow
Commonwealth Bank of Australia’s first-half profit topped estimates, buoyed by growth in its flagship mortgage business and a push in lending more to companies.
The All-American Halftime Show Will Be Back in 2027, But That Might Be a Terrible Idea
Super Bowl halftime shows always spark buzz, and 2026 was no exception. While Bad Bunny lit up the stage at Levi’s Stadium with a record-breaking ... Read More
Dem lawmaker slams Ilhan Omar probe as 'playing politics'
Fox News chief congressional correspondent Chad Pergram has the latest on the probe into Democratic Rep. Ilhan Omar's personal wealth on 'The Faulkner Focus.'
Virginia lawmakers propose new tax on fantasy sports
Lawmakers in Virginia are considering legislation that could change the future of fantasy sports in the Commonwealth.
Private jets: How plane makers are chasing Asia's super-rich
Parts of the aviation industry are shifting towards wealthy customers and selling a more luxurious type of international travel.
‘March for Billionaires’ to hit San Francisco streets on...
A pro-wealth advocate is planning a “March for Billionaires” on the streets of San Francisco Saturday to push back against California’s proposed “billionaire’s...
SEC financial boom brings revenue to $1.1 billion, but can it catch the Big Ten?
The Southeastern Conference released financial records that show business is booming after a new deal with ESPN. But can it match Big Ten's wealth?
West Palm hosts global power players as city pushes for national business hub status
It wasn’t on most people’s radar, but this week, some of the world’s most influential and wealthiest business leaders gathered in West Palm Beach.
India’s Neo Group Hires Veteran Banker To Boost Wealth Business
India’s Neo Group Ltd. hired senior banker Tajinderr Pal Singh Bhatia as a founding member and president of its wealth business, said people familiar with the matter, as demand for private bankers heats up in the the country’s fast-growing wealth management industry.
The 2026 Virginia Black Business Leaders Awards
From rebuilding communities in the post–Jim Crow era to leading Fortune 500 companies and public institutions today, Black business leaders have played a central role in shaping Virginia’s modern economy. Today, they are driving growth, innovation and opportunity across the commonwealth — leading major corporations, expanding small businesses, strengthening public institutions and driving progress across […]
Daiwa Profit Beats Estimates on Equity Trading, Wealth Business
Daiwa Securities Group Inc.’s profit beat estimates last quarter, as Japan’s stock market boom bolstered its equity trading and wealth management businesses.
Hims and Hers Super Bowl ad highlights 'uncomfortable truth' about elite healthcare for the rich and 'broken' system for the rest
The company is putting wealth inequality center stage as millions are expected to drop their Obamacare plans.
In the latest Epstein files are famous names and new details about an earlier investigation
Newly disclosed government files on Jeffrey Epstein show authorities thought they were close to indicting the wealthy financier on sex crimes nearly two decades ago, before that investigation was suddenly scrapped.
The Latest Way to Create an Isolated Retreat: Buy a Whole Village
Wealthy buyers and tourism entrepreneurs are acquiring abandoned European villages — school, church and bar included.
Tampa Bay Business & Wealth Magazine Announces Leadership Transition and Next Phase of Growth
Tampa Bay Business & Wealth (TBBW) today announced a leadership transition and the start of a new chapter for the publication, marking a significant milestone in its continued evolution as a leading voice for the region's business community.
Gavin Newsom says he's 'burdened by the facts' as he criticizes California billionaire wealth tax proposal
California Gov. Gavin Newsom doubled down on his criticism of the proposed billionaire wealth tax, warning it could cut school and safety funding rather than solve budget issues.
Gen X and millennial inheritance could take a hit due to health care costs and taxes
Generation X and millennials who may be receiving an inheritance from the previous generations may be receiving less than expected due to health care costs and taxes, according to experts. NBC News' Brian Cheung breaks down how this will impact the younger generation.
Hims & Hers Super Bowl Ad To Spotlight The Health-Wealth Gap
Narrated by Common, HIms and Hers' 2026 Super Bowl ad highlights how income disparities shape health outcomes—and position affordability as part of the solution.
Sergey Brin Spends $20 Million on California Political Effort Amid Wealth Tax Debate
Sergey Brin, the co-founder of Google, is donating toward campaigns to solve California’s housing crisis, spurring other billionaires to pitch in. Their efforts may also help ward off a wealth tax.
Tampa Bay Business and Wealth under new ownership, and the transaction is made-for-TV drama
Bridgette Bello’s departure from the magazine turns out to be more than what it seemed.
KPN Consulting Services Announces Over 20M USD in Business Acquisitions and Launch of Financial Wealth Symposium
CHARLOTTE, NC, UNITED STATES360-Degree Consulting Firm Expands Economic Empowerment Footprint Through Strategic
Walmart CEO Doug McMillon retiring as retailer gains more wealthy shoppers amid inflation
Walmart CEO Doug McMillon retires after 40 years, leaving behind a transformed retail giant that attracts higher-income shoppers through convenience.
Who was Ajit Pawar, the Indian politician killed in plane crash?
Pawar was a key political figure and served as second-highest elected official in Maharashtra, India's wealthiest state.
Investment and Statecraft: The International Politics of Sovereign Wealth Funds - Georgetown Journal of International Affairs
In 1953, Kuwait established the world’s first sovereign wealth fund to invest the country’s oil revenues and generate returns that would reduce its reliance on a single resource. Since then, over 100 separate funds have been created to preserve national wealth and ensure long-term fiscal sustainability. Today, they manage over $10 trillion in global assets. In this discussion with GJIA, political economist Kathryn Lavelle explains the increasingly novel dynamics that surround fund behavior and what the world can come to expect from their growing presence in international financial markets. GJIA: When it comes to the roles sovereign wealth funds (SWFs) play in global markets and politics, what would you say makes them unique? Kathryn Lavelle: Sovereign wealth funds (SWFs) operate on behalf of governments as investors. That in itself is a strange relationship. Within them, a core contest takes place between the state’s interests (or sovereign) part of the dynamic, and the money interests (or wealth) part of it, and these two aspects are frequently in contradiction, serving fundamentally different goals. SWFs are also quite fascinating because when you talk to the people who manage these funds, they have an interest in convincing you that the decisions are made almost exclusively on a financial basis—they really will go to great lengths to differentiate their government owners and those who make the management decisions. At the same time, these people ultimately answer to someone in power. Therefore, for most SWFs, it remains deeply unclear who is actually making the investment decisions and for what purposes. Of course, it is not always clear how other vehicles, such as hedge funds and private equity make the decisions they do, but I think what a lot of people find particularly disconcerting about SWFs is that they seem to act on behalf of people who have a different identity from their own. People who could be trying to manipulate politics and markets in a way that would have a long-term effect on their own populations. Regular investors come and go at will, and they only share an interest in profit as far as most of us understand. However, SWFs have that extra “sovereign” part right behind them that obscures their true interest. GJIA: These funds can be found in countries all across the globe, in both authoritarian states and democracies. Would you say SWFs differ in their goals and structures between regime-type? KL: It is not necessarily regime type that makes the goals and structures of SWFs different. It has to do with their economies. Let’s look at a country like China. There’s going to be a debate about exactly how to characterize the regime, but it is a country with many different kinds of sovereign wealth funds, and a particularly opaque state connection to each. At one time, some of the state-owned Chinese oil companies created specialized investment vehicles listed outside Chinese markets that excluded parts of the firms that were more associated with human rights violations. At the same time, the China Investment Corporation (CIC)—China’s largest SWF—draws a lot of concern, not necessarily because of its investment activities, but because of the dynamics of global politics. So, I wouldn’t really tie differences to regime types themselves in a wholesale way, but rather to how such funds are perceived and how they are structured. Saudi Arabia’s SWF is getting all kinds of attention for its involvement in Hollywood, and this takes me right back to when I was a student in the 1980s, when people were concerned about Japanese investment entities buying assets in Hollywood. They aren’t quite the same in financial terms, but it’s the same kind of concern about foreign investment that drives people to be suspicious, and the whole idea that “foreigners are influencing Hollywood.” This holds true across industries, and it reflects where politics are in places like the United States right now. One metric we can try to look at is transparency, where all the funds will tell you, “we are transparent.” The problem you’ll keep running into with this approach is how you value things. When trying to do comparative studies of equity markets, you’ll find that every country doesn’t use Generally Accepted Accounting Principles like we do in the United States. A fund may appear opaque politically and not want people to show what they’re invested in or what their intent with that investment is, but they could also just not be able to report it because of the way it was purchased, or the kinds of shares they purchased. There are some assets out there that really are difficult to put a monetary value on. GJIA: To what extent do domestic politics shape SWF behavior in both the investing “home” country and the recipient “host” country? KL: This depends on the type of fund present and also on the extent to which voters’ political views are able to influence the fund. For example, in a democratic home state like Norway, the SWF doesn’t invest in nuclear weapons or tobacco because of social concerns, but there is a continuing debate over whether it should invest in oil, even though that’s where most of the money comes from. The degree to which Norway will continue to make those investments, and whether they contradict the government’s overall climate goals, is an open question in Norwegian politics. Because of the way the fund’s governance is structured, it may not be easy to resolve. On the other hand, some people consider pension funds, like the State Teachers Retirement System (STRS) in Ohio, to be quasi-SWF. They have a very strict separation between the people who make up the management division and the fund owners. No teacher or professor would want to invest in things that may harm the future of their students. At the same time, a fund manager might see an opportunity in a diversified multinational corporation that offers a good return, despite it deriving part of its revenue from e-cigarettes. These contests are very apparent. Domestic politics can work in host countries too. A good example is Singapore’s SWF, Temasek, investing in Thailand’s telecommunications sector. If you study political economy, you already know that countries everywhere are uncomfortable with foreign ownership of their telecom sectors because a foreign entity could monitor or manipulate our communications with each other. In the case of Temasek, there was significant pushback from Thai citizens surrounding the deal, which went on to influence national political sentiment toward Singapore as a whole, underscoring the risks some SWFs may face with their investment choices. In this case, fund behavior led to the dissolution of the entire Thai government in 2006 and a subsequent coup d’état. GJIA: To address some of this unease, the Santiago Principles were established in 2009 to ostensibly promote trust and transparency. From your perspective, have these mechanisms actually changed fund behavior? KL: In international relations theory, we always like to have a clear set of norms and best practices—the orientation we want the proverbial ship to be going in. In that regard, the Santiago Principles at least got the discussion going about which direction SWFs should take at a time when people were very skittish about the growing size of these funds. Nobody wanted them to be out there and potentially destabilizing economies, so talks about disclosure, conditions for withdrawal, and the independence of managers were helpful when initiated. The biggest stumbling block was that there wasn’t exactly a good way to measure compliance with the Principles, let alone how to hold funds to them. If you read the Principles, they’re overall quite vague. In general, a fund doesn’t want to reveal how and why they make certain investment decisions because that information is proprietary—a fund makes money off of how and why it makes decisions—so how do you reconcile that with loosely-defined ideas of openness? Some decisions might have a political purpose. The bottom line is that trying to figure out and assign a score to compliance is not easy, and it is therefore the reason why the Santiago Principles never really got off the ground to the point where they could truly direct fund behavior. GJIA: Many emerging markets are looking to build their own SWFs from mineral and oil revenues. Historically, have funds shaped development trajectories in these countries? KL: I think the big story in international emerging markets investment is that the investment is increasingly no longer unidirectional. In the past multinational corporations of primarily Western background were the main form of foreign direct investment in a country. That has changed dramatically, to the point where you have companies from so-called “developing countries” taking over companies in the United States. Therefore, the landscape of international investment has changed, and I think SWFs are certainly a possibility to be the next step in the game. Historically, you didn’t need an entire financial vehicle to reinvest commodity revenues in your country, but as emerging markets get more financially sophisticated, their capacity to operate such funds has increased. SWFs would allow treasuries to move from relying on holding foreign exchange assets like cash or government bonds to having broader financial markets and targeted growth areas, while easing pressure on welfare expenditures. GJIA: With their increasing financial weight, do you see the presence of SWFs being a factor in the political choices leaders will have to make with regard to domestic and foreign policy? KL: It will depend on just how big the funds get. One of the reasons people are already apprehensive is because of their scale, and if certain SWFs in certain countries achieve a large-enough size, the presence will absolutely be cause for concern. The other factor political leaders will have to consider are their objectives. It’s not always clear how to define a SWF, or even where its activity is concentrated, but it is certainly a worry from the perspective of national security of opaque external investment. More than that, I think one of the most interesting questions going forward is whether the United States, the home to the world’s largest financial markets, will develop its own fund, for which the Trump administration announced a plan. There have also been several proposals in Congress. Were it to come into being, it would have tremendous weight. At the same time, one of the hallmarks of U.S. capitalism is a lack of government ownership of shares, so it would not be clear how such a fund would be received in domestic politics, or which direction it would take. Given how politically fragmented the country is, a Democratic administration would likely be concerned about different sectors of the economy, such as healthcare, and want investment there, rather than a Republican administration, which might prefer defense industries. No investment vehicle could thrive under conditions of such instability. Moreover, it remains unclear where the money to fund a theoretical U.S. SWF would come from. It would be a fundamentally different entity depending on whether it is financed with debt, economic surplus, commodities, or the sale of state companies, as in the case of Singapore. If it is debt, or government borrowing of some form, then the fund would have to outperform whatever the cost of that debt is, which is not an easy thing to do. I think our political leaders have enough on their plate. Our system has worked well keeping political and investment functions generally separate. We have seen different forms of business rise and fall, and even the perception of different countries, all of which funds are tied to. Unless a major SWF either starts—like in the case of the United States—or collapses—an issue that concerns the Saudis, I don’t see any political tsunamis on the horizon. . . . Kathryn Lavelle is the Ellen and Dixon Long Professor of World Affairs at Case Western Reserve University in Cleveland, Ohio. Her research explores the exchange between domestic and international and political institutions with a particular emphasis on political economy and multilateralism. Dr. Lavelle’s first book, The Politics of Equity Finance in Emerging Markets, explored the political circumstances that surround large issues of stock in the developing world. After being granted tenure at Case Western, she was awarded an American Political Science Association Congressional Fellowship and named the William A. Steiger fellow, a designation given to the most promising political scientist in her class of fellows. While in Washington during 2006-2007, she worked on the staff of the House Committee on Financial Services on issues related to domestic and international monetary policy. Dr. Lavelle holds a PhD in political science from Northwestern University; an M.A. in government and foreign affairs from the University of Virginia; and a bachelor’s degree in international economics from Georgetown University. She is a permanent member of the New York Council on Foreign Relations. This transcript has been lightly edited for clarity and length. Interview conducted by Sid Mehrotra. Image Credit: Jason Leung, Unsplash Content Licenses, via Unsplash
‘AI is the future’: UK launches state’s 1st Bachelor of Science in AI
From smartphones to self-driving cars, artificial intelligence (AI) is reshaping how the world works — and now, Kentucky students can be trained at the forefront of that transformation. The Stanley and Karen Pigman College of Engineering at the University of Kentucky has launched the Commonwealth’s first Bachelor of Science in AI. The undergraduate degree program, housed in the Department of Computer Science, will welcome its first class in Fall 2026.
Goldman Sachs adds 7 management committee members from asset and wealth
All seven new management committee members come from Goldman Sachs' growing asset and wealth management division, which oversees $3.6 trillion.
A millionaire in California explains why he's happy to pay more taxes
A millionaire in California shares why he supports the state's proposed billionaire wealth tax — and why he doesn't plan to move away.
World's 4 richest people are already $100B wealthier in 2026
Elon Musk, Larry Page, Sergey Brin, and Jeff Bezos have gained a combined $100 billion in 2026 thanks to stock gains and xAI's valuation bump.
SF Mayor Lurie leans into City Hall’s business partnerships with hire
San Francisco Mayor Daniel Lurie’s new aide will be at the center of his plans to supplement his work at City Hall by pulling in large sums from charities, businesses and wealthy donors.
M.B.A. Student Explores Data Center Opportunities with UToledo Business Incubator
Alex Li brings a wealth of industry experience to his master’s program, inspiring the business plan he's developing to improve the sustainability of data centers.
Exclusive: Wealthy governor candidate Steyer calls to end corporate PAC spending
The San Francisco investor, a massive political spender on his own causes, says to lower cost of living California must end corporate PACs
Here’s what 6 Mass. political observers want to hear in Thursday's State of the Commonwealth speech
Gov. Maura Healey is set to deliver her annual State of the Commonwealth address Thursday night, amid national debates around affordability, immigration and President Trump’s expanding use of executive authority to implement his agenda.
Trump revels in Davos about making the rich even richer
After it was announced that California Gov. Gavin Newsom would share his views on President Donald Trump at the World Economic Forum in Davos, Switzerland, this week, MAGA influencer Katie Miller derided the Democrat for his presence at the event frequented by wealthy businessmen.
WATCH: Trump brags about making CEOs 'very rich' at World Economic Forum reception
The president spoke to a wealthy audience at the Davos economic forum in Switzerland as Republicans back home press him to focus on affordability, a top concern for Americans getting squeezed by higher prices ahead of the midterm elections.
Wells Fargo becomes first major bank to relocate wealth operations headquarters to Florida
Wells Fargo tells Fox News Digital that its relocation to West Palm Beach is a "strategic commitment" to serving high-net-worth clients by increasing the wealth branch's reach in Florida.
Chevron’s Dilemma in Venezuela: Support Trump’s Vision Without Losing Money
The company lobbied hard for proximity to Venezuela’s oil wealth—but it has little appetite for making major investments there in the near term.
Mass. energy, budgets, and 2026 politics loom over Gov. Healey’s state address
Massachusetts Gov. Maura Healey will deliver the annual State of the Commonwealth address on Thursday evening.
Move Over, Vegas: D.C. Is Getting A 'Mini-Sphere'
If you thought immersive entertainment was only for Las Vegas, the party is officially coming to the nation’s capital. Officials just announced plans for a ... Read More
BUSINESS BRIEFS: Adams Community Bank announcement; Dellea.biz Computer Services anniversary; Berkshire LGBTQ+ networking event; Tableaux Wealth open house; Berkshire HorseWorks awarded; Greylock Federal awarded; Computer training at BCC
Adams Community Bank has announced the addition of Christopher Glynn as Assistant Vice President, Business Banking Officer.
‘Brazen’ political influence of rich laid bare as wealth of billionaires reaches $18.3tn, says Oxfam
Governments opting for oligarchy while brutally repressing protests over austerity and lack of jobs, charity report says
Abigail Spanberger becomes Virginia’s first female governor in historic inauguration
Democrat Abigail Spanberger was sworn into office Saturday as Virginia’s first female governor, amid a cold drizzle outside the state Capitol after centuries of men holding the commonwealth’s top office.