Richistan: the new rich and how they effect the world by Robert Frank, Summary


The new rich and how they affect the world.
Published about 2008.

Note: This is but one point of view to be considered.


Here are some main points:

– “Richistanian” is the name he uses to refer to this new type of people

-Has a good deal to say about how some treat wealth differently and

– the shift from national elitists to global elitists.

-Speaks of the 500-foot boats.

-Speaks of how often 18 cents of every dollar given to major charity groups goes to the charities, as well as some wealthy people trying to correct that.

-The other part goes toward the private schools of the children of the people who run the charities.

-Speaks of mentalities of the children who grow up in homes with wealth, and how some parents choose to have their children work for everything.

-Speaks of the wealthy being same made now as compared to inheritance of the old rich.

-Speaks of the economic boom we’ve been seeing where it’s not about being a millionaire anymore but about billionaire.

-Speaks of how they give to charity balls then throw their own charity balls and expect everyone to give to those, and how it’s more about finance than charity.

-Speaks of people who work 16-hour days, consuming their entire lives with seeking and finding material wealth.

-Speaks of ignoring natural disasters while people shop for boats.

-Speaks of how the wealthy are republicans, but the super wealthy are democrats.

-Speaks of the extensive training butlers receive to perform the ballet of service. Speaks of how the wealthy all feel like to be financially secure, they need double of what they have.

-Speaks of 4 levels of wealth: 1-10 million, then 10-100 million, then 100 million-1 billion, then multibillionaires. Speaks of their envy of each other.

-speaks of people who always work while on vacation and send emails through the night and during watching films.

-speaks of support groups for rich people where they speak about their problems

-speaks of a wealthy man seeking to reclaim his family and having good success by having Saturday morning breakfasts with his daughter.

-speaks of how even the wealthy often live beyond their means

-speaks of how it’s fast to get rich today, but also fast to lose it all

-speaks of how they don’t consider themselves rich usually

-speaks of how they live in fear of poverty

-speaks of one wealthy family who spends its summers in 3rd world countries to help the people there and see what their real needs are.

-speaks of applying business skills to charity groups

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