Tag: wealth

Ranking Places Baltimore Among the Best Cities For Building Wealth

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baltimore-skyline-rowhouse

Baltimore is among the most favorable places for you to build up your savings, according to a list compiled by financial services firm Bankrate.

Baltimore Among Top Ten Economically Segregated U.S. Metros

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suburban-poverty

A couple folks at the Martin Prosperity Institute measured poverty distributions across the United States’ more than 350 metro areas using 2010 census data to rank those areas according to how segregated their poor are. It may not shock you to hear that Baltimore makes it into the top 10 (if anything, it’s surprising that, at no. 9, we came in behind areas like New York and Buffalo), but the data revealed that there is only a very small correlation between segregation of poverty and income inequality.

Theodore Lerner is the Richest Person in Maryland

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Courtesy Citybizlist – The international wealth management firm Wealth-X recently compiled a report listing the richest person in every state.

Micfosoft mogul Bill Gates, of the state of Washington, was the richest person in America with a net worth of $70.8 billion.

Theodore “Ted” Lerner, with a net worth of $4.1 billion, is the richest person in Maryland.

Here are some of the states and their richest billionaires, according to Wealth-X:

7. Michael Bloomberg, $21.4 Billion
State: New York
Michael Bloomberg, the current mayor of New York City, is the founder and owner of Bloomberg L.P.

Maryland Historical Society’s Betsy Bonaparte Exhibit Opens Sunday, June 9

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Madame Jerome Bonaparte - Pastel on Paper, c. 1856 by George D'Almaine, after Gilbert Stuart's triple portrait
Madame Jerome Bonaparte – Pastel on Paper, c. 1856
by George D’Almaine, after Gilbert Stuart’s triple portrait

This weekend, the much anticipated Maryland Historical Society exhibit “Woman of Two Worlds: Elizabeth Patterson Bonaparte and Her Quest for an Imperial Legacy” opens.  In celebration of the exhibition, the Maryland Historical Society is hosting a Bonaparte Ball at the Garrett-Jacobs Mansion on Saturday, June 8 at 7pm. And later that evening, from 9 pm-1 am, the Young Defenders of the Maryland Historical Society are hosting an Afterparty to the Bonaparte Ball called Fashionably Late.  (For more information call 410-685-3750 x399.)

Much has been written about Madame Jerome Bonaparte — also known as Betsy — who, as a gorgeous 18-year-old, set the gossipmongers atwitter with her revealing empire dresses at local society events. Her marriage to Napoleon Bonaparte’s younger brother Jerome became an international drama. Whether in Europe or in Baltimore she always caused a stir with her renowned beauty and wit. Even at ninety-four, Elizabeth was still making news as one of America’s richest women. But despite a life of celebrity and financial success, she lived with unfulfilled imperial dreams.

Garnet tiara worn by Betsy Patterson Bonaparte, circa 1803.
Garnet tiara worn by Betsy Patterson Bonaparte, circa 1803.

With hundreds of objects and reams of documents, the Maryland Historical Society is the official keeper of Elizabeth’s memory. On view from June 9, 2013 – June 9, 2014, the “Woman of Two Worlds:” Elizabeth Patterson Bonaparte and Her Quest for an Imperial Legacy exhibit marks the first time the Maryland Historical Society has featured a exhibition exclusively devoted to a historical female figure.

Hours/Admission

Museum hours are Wednesday through Sunday 10 a.m.-5 p.m. As of June 9, General admission to the Maryland Historical Society is $9 for adults, $5 for students and children ages 3-18 and free for children under 3. For more information, visit www.mdhs.org

Baltimore is the Fifteenth-Richest City in the Nation. Hmmm….

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Based on the facts that we’re selling ads on our fire trucks, begging non-profits to take over our most historic buildings, and seem to be unable to stop our streets from flooding on a regular basis, you might think that Baltimore was a struggling city. But don’t worry; we still have rich people. According to the Bureau of Economic Analysis’ report (released yesterday), Baltimore is the 15th richest metro area in America, putting it up there with Napa, California and a couple of fancy Connecticut hedge fun townlets. Are you feeling the cognitive dissonance, too?

Two Maryland Boarding Schools Among the Most Expensive in the Nation

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Courtesy Citybizlist – Sandy Springs Friends School and Georgetown Preparatory School have been ranked among the most expensive boarding schools in the country, according to a listing published in Business Insider.

Kevin Plank’s Stake in Under Armour Up to $1.25 Billion

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Courtesy Citybizlist – Kevin Plank owns 21.6 million shares in the company he created, Baltimore based Under Armour, according to a new regulatory filing disclosing his stake after the company’s 2 for 1 stock split.

NY Times Talks to Baltimore Horse Owners About Horses as Investments

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Investment adviser, horse owner and Baltimorean George Bolton

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The New York Times columnist Paul Sullivan’s latest column on wealth management addresses investing in horses and features Baltimore-native George Bolton, who partially owned Curlin, the 2007 Preakness winner and the horse that holds the record for most money won by a thoroughbred horse. The story also quotes David DiPietro of Owings Mills who owns three-year-old filly Orient Moon with Bolton.

An excerpt:

I concluded after my day at the races that while putting money into moviemaking has its pitfalls, horse racing is probably the passion investment most fraught with risk and emotions. There is the joy of winning, of course, but also the sinking feeling that afflicted Mr. Bolton when his horse threw the jockey. And with the elation of a big victory come the dreams of high breeding fees, but smart owners know that the price paid for a horse has nothing to do with its fate.

Read Wealth Matters: Investing in a Racehorse without Breaking the Bank

 

Where the 1% Live: Maryland Boasts One Third of Richest Counties in US

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Courtesy of Citybizlist – Maryland lays claim to five of America’s 15 richest counties, led by Howard County with a median household income of $101,771, according to a report by The Street.

The Street looked at Census Bureau data from 2010, selecting the 15 counties with the highest median household income – boasting a combined median income nearly double the national average of $49,445.

American’s richest county is Loudon County, Va., with a $119,540 median income.

Read the full story here.

Here is what The Street said about the five counties in Maryland that made the list.

3rd Richest: Howard County, Md.

Median Household Income: $101,771

With an astounding 58.3% of residents holding a bachelor’s degree or higher, Howard County shows that higher education can pay. One of only three counties that have a six-figure median household income in the U.S., Howard is located between Baltimore and Washington, D.C., attracting the extremely affluent. The median value of owner-occupied homes in the county is $456,200.

12th Richest: Montgomery County, Md.

Median Household Income: $89,155

With almost 1 million residents, Montgomery is one of the largest counties on our list. It’s no surprise that this county is so large, since it’s situated just north of Washington, D.C. and only an hour from Baltimore.

More than half of the county’s population has a bachelor’s degree or higher and the home values in this area are astounding. The median value of owner-occupied homes was $482,900 from 2006-2010.

13th Richest: Calvert County, Md.

Median Household Income: $88,862

Calvert lies just across the Patuxent River from St. Mary’s County, which holds the 14th spot on our list. The median household income in this county didn’t see the same boom that St. Mary’s saw year over year, though. Its income remained essentially flat, decreasing less than 1% from 2009.

Veterans make up roughly 10% of the population, according to the most recent census data.

Read the rest of the story at citybizlist.com

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