Billionaires Weigh In on Economic Inequality

A recent article in The New York Times, “Billionaires to the Barricades,” begins this way:

EARLIER this month, when the billionaire merchandising mogul Johann Rupert gave a speech at The Financial Times’s “luxury summit” in Monaco, he sounded more like a Marxist theoretician than someone who made his fortune selling Cartier diamonds and Montblanc pens. Appearing before a crowd of executives from Fendi and Ferrari, Mr. Rupert argued that it wasn’t right — or even good business — for “the 0.1 percent of the 0.1 percent” to raid the world’s spoils. “It’s unfair and it is not sustainable,” he said.

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