Middlegarchs are the new Oligarchs
Wanna know who is really in the top 1%? And how they use their influence? It may not be who you think.
Look beyond Silicon Valley. Look beyond Wall Street. Look beyond the “oligarchs”. There's a much larger class of wealthy Americans hiding in plain sight. And, often, they got rich in mundane ways. They own car dealerships. They sell hot dogs and frozen mini-quiches. They run waxing salons. They supply fabricated metal and urinal cakes. They are dentists.
Collectively, these "Main Street millionaires" control much more wealth than the billionaire lightning rods who launch rockets into space, appear on manosphere podcasts, and have Hollywood movies made about them. Many of these millionaires have also grown rich enough to afford superyachts, 10,000-square-foot homes, and pet tigers.
At the center of their story is a quiet revolution in the American economy: the rise of a particular kind of private business. On today’s show, how did the power of the “stealthy wealthy” millionaires come to rival that of the billionaire oligarchs? And, how are they shaping policies that lower their taxes and raise your prices?
Read:
Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life
Our weekly longform Planet Money newsletter
Our weekly Indicator round-up newsletter
Follow:
Instagram
TikTok
YouTube
Facebook
Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include bonus episodes and sponsor-free listening. Learn more at plus.npr.org.
This episode was hosted by Greg Rosalsky and Sarah Gonzalez. It was produced by Emma Peaslee. It was edited by Marianne McCune with fact checking help from Sierra Juarez. It was engineered by Kwesi Lee. Alex Goldmark is Planet Money’s executive producer.
Music: NPR Source Audio - "Collectible Kicks," "Blazed and Emboldened," and "Arturo’s Revenge
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
NPR Privacy Policy
Look beyond Silicon Valley. Look beyond Wall Street. Look beyond the “oligarchs”. There's a much larger class of wealthy Americans hiding in plain sight. And, often, they got rich in mundane ways. They own car dealerships. They sell hot dogs and frozen mini-quiches. They run waxing salons. They supply fabricated metal and urinal cakes. They are dentists.
Collectively, these "Main Street millionaires" control much more wealth than the billionaire lightning rods who launch rockets into space, appear on manosphere podcasts, and have Hollywood movies made about them. Many of these millionaires have also grown rich enough to afford superyachts, 10,000-square-foot homes, and pet tigers.
At the center of their story is a quiet revolution in the American economy: the rise of a particular kind of private business. On today’s show, how did the power of the “stealthy wealthy” millionaires come to rival that of the billionaire oligarchs? And, how are they shaping policies that lower their taxes and raise your prices?
Read:
Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life
Our weekly longform Planet Money newsletter
Our weekly Indicator round-up newsletter
Follow:
TikTok
YouTube
Support public media with NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include bonus episodes and sponsor-free listening. Learn more at plus.npr.org.
This episode was hosted by Greg Rosalsky and Sarah Gonzalez. It was produced by Emma Peaslee. It was edited by Marianne McCune with fact checking help from Sierra Juarez. It was engineered by Kwesi Lee. Alex Goldmark is Planet Money’s executive producer.
Music: NPR Source Audio - "Collectible Kicks," "Blazed and Emboldened," and "Arturo’s Revenge
See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.
NPR Privacy Policy
You May Also Like
7 Minute Leadership
Paul Falavolito
HOGENT: kwaliteit dus!
The Podcast Planet
Marketplace
Marketplace
Marketplace All-in-One
Marketplace
Closing Bell
CNBC
One Rental At A Time
Michael Zuber
Rock Stock Channel
rockstockchannel
120 jaar IJsfabriek Strombeek
The Podcast Planet
The Crypto Conversation
Brave New Coin
Datasets
Visionary
7 Minute Leadership
Paul Falavolito
HOGENT: kwaliteit dus!
The Podcast Planet
Marketplace
Marketplace
Marketplace All-in-One
Marketplace
Closing Bell
CNBC
One Rental At A Time
Michael Zuber
Rock Stock Channel
rockstockchannel
120 jaar IJsfabriek Strombeek
The Podcast Planet
The Crypto Conversation
Brave New Coin
Datasets
Visionary
Community discussion