Worldwide business was severely affected due to the Corona epidemic. Despite this, in the year 2020, there was a tremendous increase in the wealth of the rich around the world.
Now some are talking to their wealth manager about how to keep their grip strong in the midst of the epidemic. Some people are discussing how to meet and navigate the demands from governments and the public, so that recovery costs can be extracted.
Also read- Foreign e-commerce companies will not have to pay 2 percent digital tax, know what is the big condition for this
Morris Pearl, a former Blackrock MD, said, “The stock market crushed a year ago and by July my portfolio was back. It’s much higher at the beginning of the year.” He said the fundamental problem is the huge inequality that is getting worse. Rob Weber, CEO of Swiss Wealth Manager Tiedemann Constantia, said, “It’s clear that the bill is coming for everyone. He said that some clients would increase tax rates Like the first businesses are also considering selling major properties.
read this also- Labor Minister Santosh Gangwar’s two-day vacation on week 3, right now there is no such proposal
After Joe Biden became president in America, there is a possibility of high tax for the rich. According to the wealth manager, the demand for clients for the establishment of trusts has started increasing rapidly. This will allow them to pay money to children or other relatives under the current $ 11.7 million tax free limit per person. During his election campaign, Biden proposed to return to 2009 levels when the rebate was $ 3.5 million.
Nearly two-thirds of the world’s billionaire population grew in wealth. According to Forbes, by the middle of December in 2020, billionaires around the world had become 20 percent richer.