Spies, divorce lies and Swiss bank accounts – May wealth links

Wednesday, May 26, 2010 | Posted by: Fiona Cullinan
Categories: Personal | Tags: tax, links, HNWIs, economy, charity, divorce, Switzerland, private banking, iPad, private jets, tax rises, luxury goods, Sunday Times Rich List, donations, benefactor

Our monthly pick of the web as it relates to high earners and HNWIs – including why your iPad won’t buy you luxury and the global trend for tax rises on the rich.

Top 10 luxury brands’ sites fail to work on iPad : Don’t expect your new iPad to deliver the luxury goods – the world’s top luxury brands are not up to date on their e-commerce offerings, according to PSFK, a trends research company. That’s because their sites are designed in Adobe Flash, which the iPad doesn’t support because of its drain on battery life. Although, some good news: Gucci does render!

British rich break wealth record : The past 12 months have been good to the super-wealthy, despite the recession, bank turmoil and tax haven clampdowns. According to the Sunday Times Rich List, Britain’s top 1000 HNWIs have increased their fortunes by 30%, adding £77 billion to their coffers – mainly due to stockmarket bounceback of 2009. It is the biggest year-on-year rise in 22 years of the list being produced.

In case of divorce, check your hard drives : The Times reports on the £400 million divorce battle of Michelle and Scot Young. A laptop Mr Young passed on to his children is said to contain hundreds of emails and other files outlining his business dealings. Michelle Young apparently hired specialists to get around the encryption.

Watch out, there are wealth spies about! : SmartMoney reports on a trend in the US of charities upping the ante to secure a benefactor. In a story that sounds more James Bond than non-profit, hospital fundraisers in San Diego are reported to be screening their patients to discover which might convert into wealthy donors. Even smaller charities can now take advantage of more online data and powerful research software to find and target potential benefactors.

Plane extravagance : The best parties always end up in the kitchen, except for private or business jet owners who could now end up living the high life in the tail of their plane. BAE Systems and UK design consultancy Design Q have created a party wing aboard the ABJ Explorer One – an air deck that opens out from the side of the plane. Not a mid-air option, obviously, but one for the jet-set safari on landing as it features an elevated viewing deck, cutting-edge entertainment system and high-spec open-plan galley.

Taxes on rich rise around the world : Thought it was just the UK government targeting high earners to pay for the deficit? According to The Wealth Report, governments around the world are now following the lead of the UK and US in targeting HNWIs, not only through direct taxation but through a crackdown on offshore tax evaders and by targeting high-paid sectors, such as the medical profession (something Bespoke blog reported on).

Demystifying Swiss bank accounts : The secrecy of Swiss bank accounts is legendary, for years providing a tax haven for the very rich. This infographic exposes some of the figures, such as the £1.8 trillion of private funds that are held here, and the recent £42 million fine paid in the UK vs UBS case.

Image: © Rob Pongsajapan

Bespoke links.