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When Frank, a columnist for the Wall Street Journal, began noticing that the ranks of America's wealthy had more than doubled in the last decade, and that they were beginning to cluster together in enclaves, he decided to investigate this new society, where $1 million barely gets you in the door. The Richistanis like to consider themselves ordinary people who just happen to have tons of money, but they live in a world where people buy boats just to carry their cars and helicopters behind their primary yachts, and ordering an alligator-skin toilet seat won't make even your interior designer blink. But Frank doesn't just focus on conspicuous consumption. He talks to philanthropists who apply investment principles to their charitable contributions and political fund-raisers who have used their millions to transform the Colorado state legislature. He also meets people for whom sudden wealth is an emotional burden, whose investment club meetings can feel like group therapy sessions. It's only in the final pages that Frank contemplates the widening gap between Richistan and the rest of the world—for the most part, his grand tour approach never loses its light touch. (June)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
Frank, a Wall Street Journal columnist, observes the unprecedented rise of wealth in the U.S., which has essentially created a new country, here dubbed Richistan, with a net worth of $1$10 million in over 7 million households, $10$100 million in over 1.4 million households, and $100 million to $1 billion in thousands of households, plus more than 400 billionaires. Stemming from the rise of financial markets, new technology, and a freer flow of goods and information, this river of money courses around the world, seeking investments not only in stocks but in hedge funds, private-equity funds, and venture capital. Conducting extensive interviews, the author tells stories of these wealthy individuals, neither deifying nor denigrating them. With emphasis placed here on the increasing gap between the wealthy, middle class, and poor, we also learn about the challenges to society of this great disparity, the responsibility that this abundant wealth carries, and Frank's hope that some of this enormous pool of money will be used to solve widespread social problems. Excellent book. Whaley, Mary
Copyright © American Library Association. All rights reserved --This text refers to an out of print or unavailable edition of this title.
Robert Frank went to great lengths to gather so many stories about many remarkable individuals. Truly worth reading to be inspired to do great things.Published 1 month ago by Liudas
Delighted with my purchase. The book arrived as described by the Seller and it arrived ahead of schedule. Couldn't be happier.Published 1 month ago by Norman Eng
I loved this book! It is a little out of date but the stories are terrific. I recommend it even if you are a citizen of Richistan.Published 7 months ago by George F. Reinhart
Frank gives an all-access look at how the rich think and act, for better or worse. It's a very powerful portrayal of the microcosm that is Richistan and the data to show just how... Read morePublished 8 months ago by Daniel Trapp
Not wealthy, so the study of them is actually quite fascinating. This isn't a fetishization of wealth book, thankfully.Published 10 months ago by Chris Russell