20-somethings are all about keeping up with the Kardashians especially when it comes to stacking cash.
Rather than heeding the counsel of avowed financial experts, money-making women between the ages of 18 and 24 are taking their economic cues from Kim Ks stinking rich little sisters, according to a buzzy new study.
“Financially-aware Gen Zers are 62% more influenced by people they follow on social media than the national average, with their highest affinities being gamers, reality show stars, and fictional characters,” reads an August 2023 report on the demographics financial behaviors and attitudes via marketing consultancy Sooth.“Yet, they are 61% less likely to be influenced by a financial expert on social media.
Gen Z tends not to engage with people who purport to be leaders in financial services, choosing instead to look to people they see as successful, self-made female role models,” the study continues.
The analysis applied AI-driven psychographic models to data across consumer surveys, social conversations, financial habits and media usage of more than 625,000 financially aware Gen Z adults.
Researchers found that young breadwinners prefer mimicking the financial opinions and behaviors of A-listers whove forked in a fortune.
They have the highest affinity for Kylie and Kendall Jenner above all other social influencers, noted the study, adding that their million- and billion-dollar older siblings, as well as Ariana Grande, Zendaya and Selena Gomez, also ranked among the top tycoons whom ladies in their teens and 20s revere.
And when it comes to well-to-do heroines, the Kardashians arent a bad choice.
In June, both the buxom Kylie and Kim earned enviable positions on Forbes Americas Richest Self-Made Women top 50 list.
Jenner, 25, who helms the ever-trending Kylie Cosmetics brand,snagged the 38th spot on the coveted countdown with a net worth of approximately $680 million. However, Kardashian, 42, the name in front of leisure apparel line Skims, scored the 21st slot on the chart with an impressive $1.2 billion.
And 7 Rings singer Ariana Grande, 30 who recently filed for divorce from husband Dalton Gomez is said to boast a bountiful bundle of around $240 million, making her a prime paragon for the working woman. Hollywood hotshots Selena Gomez, 31, and Zendaya, 27, are reportedly mega-millionaires worthy of praise, too.
Gen Z males, however, named Nintendo of America president Reggie Fils-Aim, 62, a native New Yorker with a reported net worth of $40 million, as their favorite investment influencer, per the poll.
Young guys valued Fils-Aim’s acumen six times more than that of multibillionaire business magnate Warren Buffet, 93, or any mainstream financial thought leader.
The study went on to note that 89% of the most financially aware Gen Z adults who prioritize savings and wealth creation are women.
Gen Z women are 15 times more likely to engage with online content about saving money than the national average, researchers determined. Social media is the predominant learning channel for this generation.
Actor Benedict Cumberbatch says he’s shocked at how “fragile” he still is – despite years in the spotlight and success in the industry.
It might seem like the Doctor Strange star and The Crown actress Olivia Colman have it all when it comes to money and success – but they are also human like the rest of us.
The pair lead the cast of new satirical black comedy The Roses, which sees picture-perfect couple Ivy and Theo Rose – a rising star chef and ambitious architect – raise their two children in California, while chasing their own dreams.
‘I am shocked at how fragile I am’
But behind its dark humour and comic language, the film also looks at the realities of power imbalance, insecurity and wounded pride – in even the strongest of relationships.
And 49-year-old Cumberbatch– whose character faces a major setback in his career – tells Sky News that in real life the glare of social media only intensifies those type of situations.
“I am shocked at how fragile I am still.
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“I don’t go anywhere near it [social media] because of that.
“It’s like walking into a place where people want to marry you or kill you. Those extremes.
“I think we will get to a stage, a corporate culture that’s now manifested around it where people are obliged to do that in order to sell their lives, and therefore their brand and what they do for a living.”
Co-star Colman – who’s long-shunned the online world – agrees.
Image: Cumberbatch and Colman in The Roses. Pic: Jaap Buitendijk/ Searchlight Pictures
“I don’t look at any of it. My husband will look at a review and if it’s nice he’ll show me – but if it’s anything mean he knows to just go ‘don’t look – don’t look.’
“You just have to learn to be thicker-skinned.
“But actually, I think we need people who are sensitive and kind.”
‘Don’t do it… delete it all’
Colman – now 51, and whose leading role in The Favourite bagged her an Academy Award in 2019 – says no amount of experience and success can shield her from criticism.
“My advice to a young’un – sort of dipping their toe into the world of social media for the first time is absolutely don’t do it.
“Delete it all. If you want a happy life, don’t have any of it. I’ve never had it.”
The movie – directed by Meet The Parents’ Jay Roach with The Favourite screenwriter Tony McNamara – also calls into question the notion of success – asking, is it really possible to have it all?
Or is sacrifice inevitable when it comes to spinning the plates of a high-flying career, marriage and parenthood?
Cumberbatch admits “you can’t do it all without there being a cost”.
“You just have to weigh up what those balances are,” he adds.
Colman says “there are I suppose little sacrifices along the way” – from both sides of a relationship.
The comedy drama offers a fresh take on Warren Adler’s novel The War Of The Roses – and the 1989 hit film adaptation- starring Michael Douglas and Kathleen Turner.
Colman and Cumberbatch – both producers on the film – insist they weren’t daunted by that though.
“We wanted to find a project to do together, and we have utter respect for the iconic status of the film and book,” explains Cumberbatch.
“Hopefully this will have its own place in the culture – it’s very different, it’s not a remake – it’s a reimagined jumping-on point.”
“But beyond that, it’s very different,” adds Colman.
Former Doctor Who Ncuti Gatwa and Barbie’s Kate McKinnon also form the cast.
Donald Trump has cancelled a loophole from today that had allowed consumers and businesses to be spared duties for sending low-value goods to the United States.
The so-called de minimis exemption had applied across the world before Trump 2.0 but the president has taken action – and the UK may soon follow suit – as part of his trade war.
The relief had allowed goods worth less than $800 (£595) to enter the US duty-free since 2016.
But now, low-cost packages face the same tariff rate as other, more expensive, goods.
The reasons for the latest bout of protectionism are numerous and the ramifications are country and purpose specific.
What is changing?
It was no accident that China was the first destination to be slapped with this rule change.
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The duty exemption on low-value Chinese goods was ended in May as US retailers, in fact those across the Western world, complained bitterly that they were being undercut by cheap clothing, accessories and household goods shipped by the likes of Shein and Temu.
From today, Mr Trump is expanding the end of the de minimis rule to the rest of the world.
Why is Trump doing this?
Image: Number of de minimis packages imported in to the US since 2018
The president is not acting purely to protect US businesses.
More duties mean more money for his tariff treasure chest, bolstering the goodies already pouring in from his base and reciprocal tariffs imposed on trading partners globally this year.
The Trump administration has also called out “deceptive shipping practices, illegal material and duty circumvention”.
It also believes many parcels claiming to contain low-value goods have been used to fuel the country’s supplies of fentanyl, with the importation of the illegal drug being used by the president as a reason for his wider trade war against allies including Canada.
How will it apply?
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New tariffs threaten fresh trade chaos
Under the new rules, only letters and personal gifts worth less than $100 (£74) will still be free of import duties.
Charges will depend on the tariff regime facing the country from where the goods are sent.
Fox example, a parcel containing products worth $600 would raise $180 in extra duties when sent from a country facing a 30% tariff rate.
It has sparked chaos in many countries, with postal services in places including Japan, Germany and Australia refusing to accept many items for delivery to the US until the practicalities of the new regime become clearer.
What about the UK?
All goods not meeting the £74 exemption criteria now face a 10% charge because that is the baseline tariff the US has slapped on imports from the UK.
We were spared, if you remember, higher reciprocal tariffs under the so-called “trade deal”.
How will the process work?
All shipping and delivery companies will be wading through the changes, with the big international operators such as DHL, FedEx and the like all promising to navigate the challenge.
Royal Mail said on Thursday that it would be the first international postal service to have a dedicated operation.
It said consumers could use its new postal delivery duties paid (PDDP) services both online and at Post Offices.
But it explained that business customers faced different restrictions to individuals.
Businesses would be charged a handling fee per parcel to cover additional costs and duties would be calculated based on where items were originally manufactured.
While business account customers could be handed an invoice for the duties, it explained that consumers would have to pay at the point of buying postage.
No customs declaration would be required, it concluded, for personal correspondence.
Is the US alone in doing this?
The answer is no, but it remains a fairly widespread relief globally.
The European Union, for example, removed de minimis breaks back in 2021, making all e-commerce imports to the bloc subject to VAT.
It is also now planning to introduce a fee of €2 on goods worth €150 or less to cover the costs of customs processing.
Should the UK do the same?
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July: The value of ‘de minimis’ imports into Britain
The UK has been under pressure for many years to follow suit and drop its own £135 duty-free threshold as retailers battle the cheap e-commerce competition from China we mentioned earlier.
A review was announced by the chancellor in April.
Sky News revealed in July how the total declared trade value of de minimis imports into the UK in the 2024-25 financial year was £5.9bn – a 53% increase on the previous 12-month period.
Any rise in revenue would be welcomed, not only by UK retailers, but by Rachel Reeves too as she looks to fill a renewed black hole in the public finances.
Eighteen other people were injured, including children aged between six and 15 and three adults in their 80s.
Police said Robin Westman, a male born as Robert Westman, opened fire with a rifle through the windows of the school’s church as children sat in pews.
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New details released of US school shooting
‘Our hearts are broken’
Harper’s parents, Michael Moyski and Jackie Flavin, remembered her as “a bright, joyful, and deeply loved 10-year-old whose laughter, kindness, and spirit touched everyone who knew her”.
“Our hearts are broken not only as parents, but also for Harper’s sister, who adored her big sister and is grieving an unimaginable loss. As a family, we are shattered, and words cannot capture the depth of our pain,” their statement said.
They urged leaders and communities to “take meaningful steps to address gun violence and the mental health crisis in this country.”
“Change is possible, and it is necessary – so that Harper’s story does not become yet another in a long line of tragedies,” the statement added.
Image: The family of Fletcher Merkel said there was a ‘hole in our hearts’. Pic: Family handout/AP
‘Fletcher loved his family’
In a statement reported by Sky’s US partner network NBC News, Fletcher’s father Jesse Merkel blamed the “coward” killer for why the boy’s family can’t “hold him, talk to him, play with him, and watch him grow into the wonderful young man he was on the path to becoming”.
He said: “Fletcher loved his family, friends, fishing, cooking, and any sports that he was allowed to play.
“While the hole in our hearts and lives will never be filled, I hope that in time, our family can find healing.”
Mr Merkel also praised “the swift and heroic actions of children and adults alike from inside the church”.
“Without these people and their selfless actions, this could have been a tragedy of many magnitudes more. For these people, I am thankful,” he added.
Image: Families and loved ones reunite at the scene after the shooting. Pic: Reuters
Mayor calls for assault weapon ban
It comes after Minneapolis mayor Jacob Frey called for a statewide and federal ban on assault weapons, a day after the deadly school shooting.
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Minneapolis mayor urges assault weapons ban
“Thoughts and prayers are not going to cut it. It’s on all of us to see this through,” the mayor said at a news conference. “We need a statewide and a federal ban on assault weapons.
“We need a statewide and a federal ban on high-capacity magazines. There is no reason that someone should be able to reel off 30 shots before they even have to reload.
“We’re not talking about your father’s hunting rifle gear. We’re talking about guns that are built to pierce armour and kill people.”
“It is very clear that this shooter had the intention to terrorise those innocent children,” he added, before saying the killer “fantasised” about the plans of other mass shooting attackers and wanted to “obtain notoriety”.
Thomas Klemond, interim CEO of Minneapolis’s main trauma hospital Hennepin Healthcare, said at an earlier news conference that the hospital was treating nine patients injured in the shooting.
One child at the hospital was in a critical condition, he added.
Children’s Minnesota Hospital also said that three children remain in its care as of Thursday morning.