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Ultrawealthy Americans Are Scrambling To Get Ahead Of Biden’s Planned Tax Hikes
Wealth advisers to the 1% say there’s sheer panic: “Sometimes people don’t realize how much money they’ve accumulated until they’re about to lose it.”
Illustration: Damon Dahlen/HuffPost; Photos: Getty
For the 1%, 2020 was a year of gangbusters growth. Now, the ultrarich are scrambling to hang onto their fortunes.
In his 50-odd years as an appraiser of gems and fine jewelry, Warren Morss has laid eyes on some dazzling pieces.
There was the eye-popping, 17-carat diamond, and the pair of diamond earrings weighing 4 carats apiece, roughly the same as Hailey Bieber’s engagement ring. There was the emerald necklace boasting not one big pendant, but large-cut stones all the way around the collar and more emeralds dripping down the front. (“Really too much in my opinion,” he said decorously.) ....

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