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.”

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.) These days, though, nothing stands out to Morss quite as much as the sheer volume of work he’s getting.