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...Younger donors such as Jobs and Chan, who pioneered the use of LLCs, are heralding “a reckoning with the tools of philanthropy”, Brakman Reiser says....
...According to the Pew Research Center and the Survey of Consumer Finances, both in the US, the wealth of the US family at the median point — the middle of the income ladder — was lower in 2016 than in 1998...
...Christie’s kicks off on Wednesday with an evening sale featuring one of the last two Memlings in private hands: “The Virgin Mary Nursing the Christ Child”, estimated at $6m-$8m....
...In 1998, Lehman fought back after Russia’s default and the collapse of Long-Term Capital Management, the hedge fund, left the bank nursing heavy losses....
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