Q4, 2021
Contents
12
18
The Agenda
8 EDITOR’S LETTER
By Edwin Smith
10 READERS’ LETTERS
Our readers share their views on divorce, art market disruption and the future of private education
12 DIARY
Economist Ann Pettifor on her prognostications ahead of the financial crisis, and what’s next for the dismal art
14 THE HEDGEHOG
News from around the HNW universe, including Highclere and Geneva
16 BOOKS
The Myth of Private Equity by Jeffrey C Hooke reviewed – plus four more new books to look out for
18 LIQUID LUNCH
Omar Alghanim on the highs and lows of running a family business
20 PHILANTHROPY
With HRH Princess Eugenie, Ambassador of Blue Marine Foundation, and Clare Brook, its CEO
23 MATTHEW GOODWIN
Public opinion is turning against the rich, with the young leading the revolt
24 ANNAMARIA KOERLING
History has a knack of repeating itself when it comes to investing crises
25 ROBERT AMSTERDAM
Joe Biden’s failed foreign policy continues the gradual abdication of global leadership by the United States
36
The Briefing
Tax 30 TAXES WITHOUT BORDERS
The OECD wants to impose a global minimum corporate tax rate of 15 per cent, but it faces plenty of opposition. Alec Marsh finds out how the new levy will affect tax planning
34 TRUE LIES?
A debate is raging on the ‘true tax rate’ that billionaires are paying – but is taxation of wealth rather than income a realistic policy?
35 THE FAIRER SEX
Academics have discovered that women are less likely than men to avoid tax
36 BOOKIE PAYS OUT
Denise Coates of Bet365 and Stoke City is the UK’s biggest taxpayer
36 CRYPTIC CRYPTO
HMRC is finally catching up with the world of crypto – but what will any fresh legislation mean for investors?
37 HEIRS AND GRIEVANCES
The £7 billion-plus inheritance tax bill faced by the family behind Samsung has divided South Korea
