FINANCE
$6.2 Million Bananas? What’s wrong with this picture?
A world where someone pays $6.2 million for a banana duct-taped to a wall is a world that needs wealth taxes. But when wealth taxes are considered by politicians and governments, unsubstantiated spin and myth making dominates the debate. (If you can call it a debate). We look at the Tax Justice Network’s modest wealth tax proposal which could help governments increase their national budgets by 7 percent a year, a potential global revenue of more than 2 trillion US dollars annually. And we discuss what decent research really says about so-called ‘tax flight’ by the very wealthy because of tax reforms. Will they really leave in droves?
- Mark Bou Mansour
Head of Communications, Tax Justice Network
- Alison Schultz
Tax Justice Network research fellow
Victoria Gronwald, London School of Economics. Co-author of Tax Flight. Britain’s wealthiest and their attachment to place.
The person who actually benefits from the income or capital associated with owning something, and/or on whose behalf a transaction is being conducted. They are often different from legal or nominee owners, who may just be proxies who get no benefit from the asset, whose identity is used to hide the real beneficial owner.
HNWIs, pronounced Hen-Wees: Wealthy individuals. Commonly this means people with investable assets worth over US$1 million. In 2011 Capgemini and Merrill Lynch estimated that there were 10.9 million HNWIs worldwide, with financial wealth worth US$42 trillion.
A tax haven or secrecy jurisdiction is a place that deliberately provides an escape route for people or entities who live or operate elsewhere. They shield them from whatever taxes, criminal laws, financial regulations, transparency or other constraints they don’t like. Ordinary people whose lives are affected by tax haven laws are not consulted on these laws because they live in other countries: they have no say in how those laws are made, thus undermining their democratic rights.
Intermediaries like accountants, lawyers, wealth managers and bankers are not just passive facilitators of global tax abuse. They’re often active, and sometimes aggressive purveyors of these facilities.
US Listing Application. Universal Music Group has filed a confidential application to list its shares on the US stock exchange. The size of the placement and timing are not yet known.
Main Listing and Shares. UMG’s main listing is in Amsterdam on the Amsterdam Stock Exchange. The shares are trading at €27.52, with a capitalization of €50 billion. Since the beginning of 2025, the shares have grown by almost 10%.
Bill Ackman’s Role. Bill Ackman insisted on a US listing. Ackman believes that the listing will increase the value of the shares and investor demand. Ackman’s hedge fund Pershing Square owns $3.3 billion in UMG shares.
Plans and Prospects. UMG announced plans to go public in the US in January. Investors will be offered a portion of Pershing Square shares by September 15. The placement volume may be at least $500 million. The listing will attract the attention of analysts and increase the company’s liquidity.
UMG Portfolio. Such world stars as Lady Gaga, Taylor Swift, Billie Eilish, Ariana Grande work with UMG, and it also owns the rights to songs by Queen, The Beatles and other musicians.
News by www.ir7.com
IR7 reports that the 10th Quam IR Awards were held successfully in Hong Kong. The awards recognized the investor relations and sustainability teams. The Quam IR Awards celebrated its 10th anniversary and recognized many outstanding companies.
Quam IR established the Sustainability category to recognize excellence in ESG. The Quam IR Awards promote industry progress and build trust between investors and companies.
This year, 10 companies received awards. Anta Sports Products Limited won the Sustainability Report of the Year award. Alaya Consulting Limited delivered a keynote speech on ESG disclosure trends. Quam Asset Management Limited and Quam Plus emphasized the importance of effective two-way communication with the market.
Honesty and transparency of information are important for public investment decisions. The importance of investor relations is heightened in an unstable macroeconomic climate.
News by www.ir7.com
Q4, Inc., the leading provider of IR Ops software, launches Q, the first AI-powered IRO Agent™—reports IR7 Newswire.
Q is changing the paradigm of investor relations by transforming the way investors manage, analyze, and communicate. It is powered by proven AI capabilities. The IRO Agent integrates into the Q4 platform, delivering real-time information, automation, and strategic guidance to investor relations professionals.
Q delivers intelligent data analysis, customized insights, real-time engagement analytics, strategic communications support, and AI-powered analytics. Designed to seamlessly integrate into the Q4 platform, it offers a single, intuitive user interface.
The Agent helps IRO teams save time, gain insights, and increase returns.
News by www.ir7.com
