excerpts from "The Rise of New Global Elite," by Chrystia Freeland of The Atlantic
PHILANTHROPIC FOUNDATION = YACHT
Indeed, in this age of elites who delight in such phrases as outside the box and killer app, arguably the most coveted status symbol isn’t a yacht, a racehorse, or a knighthood; it’s a philanthropic foundation—and, more than that, one actively managed in ways that show its sponsor has big ideas for reshaping the world.
RICH MATH IS SIMPLE
She turns to me and she goes, ‘You know, the thing about 20’”—by this, she meant $20 million a year—“‘is 20 is only 10 after taxes.’ And everyone at the table is nodding.
GOOD GUYS OR BAD GUYS
What is notable about today’s plutocrats is that they tend to bestow their fortunes in much the same way they made them: entrepreneurially. Rather than merely donate to worthy charities or endow existing institutions (though they of course do this as well), they are using their wealth to test new ways to solve big problems. The journalists Matthew Bishop and Michael Green have dubbed the approach “philanthrocapitalism” in their book of the same name.
An American media executive living in London put it more succinctly still: ‘We are the people who know airline flight attendants better than we know our own wives.’
FOUR TO 1, 4:ONE
"His point was that if the transformation of the world economy lifts four people in China and India out of poverty and into the middle class, and meanwhile means one American drops out of the middle class, that’s not such a bad trade,” the CEO recalled.
Well, this is just in case, really.