Luxury Tax Scares CEO Class Silly

New York mayor Zohran Mamdani is being floated as a future president after pressing ahead with a new tax targeting ultra-wealthy property owners in New York City.

Under the proposal, homes valued at over $5 million where the owner does not live in New York full time would face significant tax charges. The policy targets luxury second homes and properties held purely as investments, and is expected to generate hundreds of millions of dollars each year.

New York mayor Zohran Mamdani is moving forward on a key campaign pledge, announcing a new tax targeting ultra-wealthy property owners in New York City.

“When I ran for mayor, I said I was going to tax the rich. Well, today we’re taxing the rich…” Mamdani said, unveiling a policy that would apply to residential properties valued above $5 million if the owner does not live in the city full time, effectively targeting luxury second homes and investment properties.

According to Mamdani, the measure is expected to generate hundreds of millions of dollars annually, with revenue earmarked for housing initiatives, public services, and efforts to address affordability in one of the most expensive cities in the world.

Supporters argue it closes a loophole that allows wealthy non-residents to park money in NYC real estate, while critics warn it could push investment elsewhere and impact the high-end housing market.

The Sultan of Brunei have a personal collection of over 7,000 luxury cars. It is the largest private collection of Rolls-Royce and Ferraris in the world. Most of the cars are custom-made from factory and never driven.

Louis Vuitton has released one of its most unusual designs yet… a luxury handbag shaped like a watering can . Priced at around £3,400, the piece — designed under Pharrell Williams — looks almost identical to a real watering can, complete with a spout, handle, and strap, but crafted with premium monogram materials.

The catch? It’s not about practicality — it’s about making a statement . Known for turning everyday objects into high-fashion pieces, the brand once again blends creativity with status, sparking mixed reactions online. Some call it art, others call it over-the-top… but one thing’s clear — in luxury fashion, attention is everything .

Is Balenciaga rage bait? Because that is a plastic bag thy are selling for such atrocious amount right? Is the brand trying to prove that a luxury brand can present trash and people will buy it? Is it a social experiment?