While the global coronavirus pandemic has crippled significant segments of the economy, leading to the United States suffering the sharpest rise in its poverty rate in more than 50 years, the collective net worth of the country’s billionaires has grown by $1.1...
Earlier this year, Oxfam released data noting that the 26 richest people on earth in 2018 had the same net worth as the poorest half of the world’s population, some 3.8 billion people. … Read the full article at Forbes.
Over the past two weeks, Robert Iger, the CEO of Disney, has made headlines not for Disney’s Avengers box office performance or for his completion of the Disney-Fox merger, but for something more personal: his $65.6 million salary—an amount that Disney heir Abigail...
A report from the Institute on Policy Studies looking at the impact of Wall Street bonuses on income inequality and both gender and racial pay gaps. Although the argument at first seems to be Wall Street bonuses are choking the pay of women, minorities, and low-wage...
Wealth concentration in the United States—which is intensifying across the board—has impacted minority groups the hardest. That is the thesis of a new report from the Institute for Policy Studies, a left-leaning think tank based in Washington, D.C. … Read the...
As we celebrate Black History Month, we can take pride in the progress we’ve made while also acknowledging how far we have to go. One troubling sign of the work we have to do can be seen in a wealth gap between black Americans and white Americans that persists and...
When 5,300 bank branch employees open fake deposit accounts for customers in order to hit sales quotas set by upper management, who ultimately is responsible? The employees, for opening accounts without customer permission? Middle management, for passing down...
When 5,300 bank branch employees open fake deposit accounts for customers in order to hit sales quotas set by upper management, who ultimately is responsible? The employees, for opening accounts without customer permission? Middle management, for passing down...
Renu Khator, president of the University of Houston and chancellor of the University of Houston system, is the first woman and Indian immigrant to lead a public university system in Texas. She also happens to be the top-earning public college executive in the country,...
If you heard that worker pay in an industry plummeted last year, you might reasonably be concerned. In this case, the workers were bankers and the drop was in bonuses: 9 percent down to an average $146,200 a person working in the industry in New York City, or $25...
For me, economic inequality is more than a group of people hoarding wealth. It’s about shootings on the South Side of Chicago where factories used to hum and creating gainful employment. It’s about schools not getting the support they need. It’s about tax money being...
Or as today’s report about the rich in the US puts it, the 400 people on this magazine’s rich list own more than the accumulated household wealth of all cat owners. Assuming that cat owners have only the median wealth of an American household. Well, yes, this is going...
Edward Snowden joined Twitter on September 29 and already has 1.37 million followers and counting. Just seven tweets by the famed NSA whistleblower almost immediately prompted George Pataki to call for Twitter to ban the account, though Twitter does not appear to be...
According to a report just released by The Chronicle of Higher Education, the nation’s three highest-earning public college presidents are no longer in their posts. Often university presidents reap the greatest rewards when they leave their jobs because they receive...
