Skip to content

Billionaires

Billionaire Vivek Ramaswamy Is A Wall Street Speculator

December 28, 2024 Ben Norton, Geopolitical Economy. , , , , , , ,
Vivek Ramaswamy is the billionaire Republican politician and failed presidential candidate whom Donald Trump appointed to lead the so-called “Department of Government Efficiency” (DOGE), alongside co-chair Elon Musk, the richest oligarch on Earth (who brands himself a libertarian anti-government crusader, while his companies receive billions in US government subsidies). Ramaswamy sparked something of a civil war among US conservatives with a puerile Twitter post lamenting how US popular culture upholds jocks over nerds.

Ghastly Glimpses Of America’s Most Rich-People-Friendly Year

December 22, 2024 Sam Pizzigati, Counter Punch. , ,
The good times — for America’s super wealthy — are now rolling way past good. Our richest have in 2024 enjoyed their best year ever. No other nation’s deepest pockets have watched their fortunes grow as large or as fast. Elon Musk, of course, perfectly embodies this unprecedented surge in the personal wealth of America’s wealthiest. Musk has entered 2024’s last two weeks with a net worth spilling past $450 billion, nearly half a trillion dollars. Over the last 12 months, the Bloomberg Billionaires Index neatly notes, Musk’s wealth has doubled.

Billionaires Take Center Stage After US Elections

November 18, 2024 Philippe Alcoy, Left Voice. , , , , ,
With the dissolution of the Soviet Union and its capitalist restoration, the world witnessed a veritable festival of fraudulent privatizations and appropriations of collective property by a small group of former apparatchiks, state bureaucrats, and Mafia-like businessmen. This was the great new capitalist class needed in the countries of the former Eastern Bloc to make capitalist restoration “irreversible,” as Western economists and technocrats liked to say at the time. What followed was a large-scale theft on the part of imperialist banks and Western political leaders, a process which functioned in the interests of the international capitalist class as a whole.

There’s A Severe Housing Crisis In The US: The Work To Make Housing A Right

October 29, 2024 Margaret Flowers, Clearing the FOG. , , , , , , ,
A new report, Billionaire Blowback on Housing: How concentrated wealth disrupts housing markets and worsens the housing affordability crisis, explains how the United States has entered a state of hyper-gentrification in which the average person has to compete with a large corporation when it comes to buying or renting a home. There are currently 28 vacant homes for every homeless person. Clearing the FOG speaks with Chuck Collins, a co-author of the report, and Mehrdad Azemun of Peoples Action, about the housing crisis, the vision for a homes guarantee and how people are working to make housing a human right.

Report: Billionaire Investors Are ‘Supercharging’ Housing Crisis

October 23, 2024 Julia Conley, Common Dreams. , , , ,
A new report out Monday puts "into numbers the trend that ordinary Americans have known to be true for years," said economic justice advocates behind the analysis: "Their everyday struggles of affording a home are made worse by the sweeping influence that billionaires have over the market." The Institute for Policy Studies (IPS) joined Popular Democracy in compiling a 71-page report titled Billionaire Blowback on Housing, aiming to get to the bottom of growing concerns in recent years about how Wall Street, as Democratic vice presidential nominee and Minnesota Gov. Tim Walz said earlier this month, is "buying up housing and making them less affordable."

U.S. Billionaire Wealth Is Up 88% Since The Pandemic

March 26, 2024 Chuck Collins and Omar Ocampo, In These Times. , , ,
Four years ago, the United States entered the Covid-19 pandemic. Forbes published its 34th annual billionaire survey shortly after with data keyed to March 18, 2020. On that day, the United States had 614 billionaires who owned a combined wealth of $2.947 trillion. Four years later, on March 18, 2024, the country has 737 billionaires with a combined wealth of $5.529 trillion, an 87.6 percent increase of $2.58 trillion, according to Institute for Policy Studies calculations of Forbes Real Time Billionaire Data.

America’s Richest Men Ask The Courts To Make Unions Illegal

February 25, 2024 Harold Meyerson, The American Prospect. , , , , , , , , , ,
Fourscore and seven years ago—1937, to be exact—our fathers on the Supreme Court (well, five of them, which was just enough) brought forth a new nation: New Deal America. In that year, the justices ruled that the most fundamental legislative works of Franklin Roosevelt’s presidency—Social Security and the National Labor Relations Act (NLRA)—were constitutional. So said the Court; so said, in the NLRA case, Chief Justice Charles Evans Hughes, the decision’s author, who had been the Republican candidate for president in 1916.

Baltimore’s Media Nightmare And The Billionairification Of News

February 22, 2024 Justine Barron, Fairness and Accuracy in Reporting. , , , ,
David D. Smith, leading stockholder of Sinclair, Inc., announced on January 15 that he was purchasing what is left of the Baltimore Sun, once regarded as the crown jewel of the Maryland city’s media (AP, 1/15/24). Sinclair is a multi-billion dollar Fortune 500 company and one of the largest owners of television stations in the country. The company has been criticized for its conservative and not always accurate TV news coverage (Salon, 7/21/17; New Yorker, 10/15/18). In 2018, the company compelled local TV news anchors around the country to read on air the same copy parroting President Donald Trump’s claims about “fake news” (Deadspin, 3/31/18).

The Billionaire-Backed Campaign Attacking The Palestinian Cause

February 7, 2024 Jessica Buxbaum, MintPress News. , , , , , ,
A week after Hamas launched its surprise attack on Israel, the social media page Facts For Peace was created with the message, “Get the facts on Hamas, Israel, and peace in the region.” A few days later, the page began advertising its content. “Here is Hamas’ Founding Charter in Their Own Words,” one sponsored post reads alongside video clips of Hamas leaders speaking and snapshots of the document. The page has spent more than $945,000 on Facebook ads since the war began nearly four months ago, and according to POLITICO, was the single largest pro-Israel advertiser between November 2 and December 1, spending over $450,000 on Meta ads.

The Rich Get Richer While Global Poverty Deepens

January 17, 2024 Tanupriya Singh, People's Dispatch. , , , , ,
The wealth of the world’s top five richest men has more than doubled since 2020 while 4.8 billion people, or 60% of humanity, have been further impoverished. At this rate, while it could only take a decade for the world to have its first trillionaire, it will take 229 years to ensure that no person is living in poverty. These findings are part of a new report titled Inequality Inc. published by Oxfam International, released on the eve of the World Economic Forum meeting in Davos, Switzerland. “We’re witnessing the beginnings of a decade of division, with billions of people shouldering the economic shockwaves of pandemic, inflation and war, while billionaires’ fortunes boom.

The Billionaires Who Treated Justice Clarence Thomas To Luxury Travel

August 11, 2023 Brett Murphy and Alex Mierjeski, Pro Publica. , , ,
During his three decades on the Supreme Court, Clarence Thomas has enjoyed steady access to a lifestyle most Americans can only imagine. A cadre of industry titans and ultrawealthy executives have treated him to far-flung vacations aboard their yachts, ushered him into the premium suites at sporting events and sent their private jets to fetch him — including, on more than one occasion, an entire 737. It’s a stream of luxury that is both more extensive and from a wider circle than has been previously understood. Like clockwork, Thomas’ leisure activities have been underwritten by benefactors who share the ideology that drives his jurisprudence.

Immigrant Workers Lead Strike Against Billionaire Catsimatidis

April 22, 2023 Amir Khafagy, Documented NY. , , ,
André Soleyn, 55, and two dozen of his fellow United Metro Energy Corp. workers never wanted to go on strike in the first place. After the workers voted to join Teamsters Local 553 in December 2018, the company dragged its feet in negotiating a fair contract for three years. Feeling like they were left with no choice, the workers decided to take collective action.  “It was a last resort,” Soleyn said. Tuesday, April 18, marks the two-year anniversary of the strike. Yet, Soleyn and the rest of the striking United Metro workers see no end in sight as they enter the third year of their walkout, which has now become the nation’s longest current ongoing strike. 

New Report On Extreme Wealth And Potential Wealth Tax Revenue

January 26, 2023 Chuck Collins, Inequality.org. , , ,
See our new report, researched and written by IPS, Oxfam, Patriotic Millionaires, and Fight Inequality Alliance.  This report is a complement to Oxfam’s recently released, “Survival of the Richest.” Our report includes country-by-country data on wealth inequality and the revenue possibilities of national wealth taxes. The global billionaire class is gathering this week in Davos, Switzerland to talk about the ongoing “polycrisis” – a term embraced by the World Economic Forum (WEF) to describe the convergence of ecological, political, pandemic and economic disruptions. The one acute crisis they won’t talk about is the extreme levels of concentration of wealth and power happening across the globe. Estimates from our report, Extreme Wealth, demonstrate that $1.7 trillion could have been raised in 2022 alone if a progressive wealth tax were imposed on the ultra-rich. This revenue could be used to tackle global inequality and set in motion a system of economic democracy.

When The People Have Nothing More To Eat, They Will Eat The Rich

January 20, 2023 Vijay Prashad, Tricontinental: Institute for Social Research. , , ,
On 8 January, large crowds of people dressed in colours of the Brazilian flag descended on the country’s capital, Brasília. They invaded federal buildings, including the Congress, Supreme Court, and presidential palace, and vandalised public property. The attack, carried out by supporters of former President Jair Bolsonaro, came as no surprise, since the rioters had been planning ‘weekend demonstrations’ on social media for days. When Luiz Inácio Lula da Silva (known as Lula) was formally sworn in as Brazil’s new president one week prior, on 1 January, there was no such melee; it appears that the vandals were waiting until the city was quiet and Lula was out of town. For all its bluster, the attack was an act of extreme cowardice. Meanwhile, the defeated Bolsonaro was nowhere near Brasília. He fled Brazil prior to the inauguration – presumably to escape prosecution – and sought haven in Orlando, Florida (in the United States).

A Land Deal Benefiting A Billionaire’s Soccer Team Is Muscled Through

September 22, 2022 Mick Dumke, Propublica. , , ,
Chicago, Illinois - Citing years of broken promises to build affordable homes, a Chicago City Council committee rejected a plan to lease public housing land to a professional soccer team owned by a billionaire ally of Mayor Lori Lightfoot. That was on Tuesday. Less than a day later, allies of the mayor called a do-over and reversed the vote. The full City Council then voted Wednesday to approve a zoning change needed to let the Chicago Fire soccer team build a practice facility on the 26-acre site. A June story by ProPublica detailed how the land was once part of the ABLA Homes, a public housing development on the Near West Side where 3,600 families lived. After demolishing most of the ABLA buildings and displacing thousands of people, the Chicago Housing Authority promised to build more than 2,400 new homes in the area. So far, it has finished fewer than a third of them.
«12»

Urgent End Of Year Fundraising Campaign

Online donations are back! Keep independent media alive. 

Due to the attacks on our fiscal sponsor, we were unable to raise funds online for nearly two years.  As the bills pile up, your help is needed now to cover the monthly costs of operating Popular Resistance.

Donate Here

Urgent End Of Year Fundraising Campaign

Online donations are back! 

Keep independent media alive. 

Due to the attacks on our fiscal sponsor, we were unable to raise funds online for nearly two years.  As the bills pile up, your help is needed now to cover the monthly costs of operating Popular Resistance.

Donate Here
Sign Up To Our Daily Digest

Independent media outlets are being suppressed and dropped by corporations like Google, Facebook and Twitter. Sign up for our daily email digest before it’s too late so you don’t miss the latest movement news.