Wealth

Saturday

Michael P. Gibson

Billionaires or bust: the world needs the super-rich more than ever

The socialist left was on parade in the final innings of 2025. The long cold shadow cast by “The 2026 Billionaire Tax Act,” a ballot initiative in California to be voted on in November, has led tech billionaires to take flight out of the state and land in the zero-income-tax paradises of Texas and Florida. The initiative seeks a one-time 5 percent tax on the worldwide net worth of anyone stupid enough to be a Californian with assets worth more than $1 billion as of January 1, 2026. That meant anyone in the three comma club had to hightail it out before Governor Gavin Newsom could bellow “Happy New Year.

old buff dudes bodies billionaires

Thursday

Cosmo Landesman

Is it better to be posh or cool?

What in twenty-first-century Britain is it better to be: posh or cool? Of course the correct answer is: it’s best to be posh and cool. But posh people, on the whole, tend not to be cool and really cool people aren’t usually posh. But the tribes have a lot in common. They share a certain insouciance, which is a posh word for total indifference to the feelings and thoughts of other people. They are both anti-democratic and anti-meritocratic in spirit and practice. No matter how hard you try and how much money you have, you can’t join the posh or be cool. Like sex appeal, you’ve either got or you ain’t. Defining either group is not easy, but you know when you see it — or in the case of the posh, hear it.

posh

Thursday

Carol Roth

The elite’s war on wealth

Wealth comes from ownership. Being involved in the financial industry for nearly thirty years, and spending the past dozen-plus years in the media helping people create economic freedom and wealth for themselves and their families, I know that wealth being derived from ownership is an indisputable truth. More concretely, wealth comes from the ownership of assets that increase in value over time. Ownership is a subject people tend to greatly misunderstand. We misconstrue where wealth comes from, and we misinterpret the benefits of hard work and taking risks. You can meet a poor construction worker putting in eighty hours a week for someone else. You can find professional athletes declaring bankruptcy as soon as their multimillion-dollar contracts end.

Friday

Kara Kennedy

In praise of megarich adventurers

There's rich and there's rich. There's a number beyond which stuff starts to get boring. I'm not sure what it is, but it's the point at which you run out of restaurants to frequent and clubs to join and clothes to buy and you start thinking bigger. You start thinking about going to space and colonizing Mars — and exploring the dark depths of the deep blue sea. It is the reason that Elon Musk sold his seven homes and chucked out most of his possessions and torments his staff by sleeping at work. It is also part of the reason that five men are now sadly believed to have died while aboard a missing submarine after a "catastrophic implosion." If we didn’t love to hate the rich, this would have been seen for what it is: a tragedy.

titanic megarich adventurers

Wednesday

Ben Kew

Why Louis C.K. has a point on immigration

During a recent appearance on The Joe Rogan Experience, comedian Louis C.K. stated a position that many on the left believe but are unwilling to admit: America should open its borders to the world. “My feeling is they should open the border,” he explained. “Just let everybody pour in… Then there will be all these problems, well, there should be. It shouldn’t be so great here. It is a weird thing to sequester a certain group of people and keep upping their lifespan and their lifestyle.” As someone who's spent most of his journalistic career railing against mass immigration, my initial reaction was one of scorn.

Friday

John Steele Gordon

The wealth explosion

Not all inventions change the world. But some do — and they do it by greatly lowering the cost of a fundamental economic input. This inevitably causes an economic revolution that brings about a new political and social order by opening previously impossible economic opportunities,  creating vast new wealth in the process. We are in the middle of such a revolution today, thanks to the microprocessor, which first came to market in 1972 and really took off with the introduction of the personal computer in the early 1980s. The microprocessor, a dirt-cheap computer on a chip, hugely reduced the cost of storing, retrieving and manipulating information. Computing power that cost $1,000 in the 1950s today costs a fraction of a cent.

microprocessor

Wednesday

Carlos Roa

The global elite is egregiously rich and corrupt — and you’re paying for it

Deep down, everyone has always known that the wealthy and powerful hide away vast quantities of often ill-gained money in far-flung tax havens. In recent years though, with the Panama and Paradise Papers, the public has had chances to see how the clandestine industry that helps the elites do so operates. Another such opportunity has come knocking with what is being called the biggest leak of offshore data in history. The Pandora Papers consist of almost 12 million files that lay out the secret financial affairs of almost three dozen world leaders and hundreds of high-level public officials from more than 90 countries. The details make for sensational headlines: the king of Jordan has a hidden $100 million real estate empire (including a seven-bedroom mansion in Malibu!

pandora paper elite