h/t to Dave Turner for pointing me to this great rebuttal of the Atlantic article I shared yesterday about American aristocracy.
In an age when the likes of Jeff Bezos, the Mercers, and Sheldon Adelson are accumulating dynastic fortunes, it’s also just a bit precious to declare that the new “aristocracy” is made up of people who pay too much for yoga classes and buy their groceries at Whole Foods. The average net worth among adults in the 95th to 99th percentile is about $1.7 million. Among the 0.1 percent, it’s about $60 million. Who, exactly, are the aristocrats again?