The bad behavior of the richest: what I learned from wealth managers
If nearly a decade interviewing the wealth managers for the 1% taught me anything, it is that the ultra-rich and the ultra-poor have a lot more in common than stereotypes might lead you to believe. In conversation, wealth managers kept coming back to the flamboyant vices of their clients. It was quite unexpected, in the course of discussing tax avoidance, to hear professional service providers say things like: “I’ve told my colleagues: ‘If I ever become like some of our clients, shoot me.’ Because they are really immoral people – too much time on their hands, and all the money means they have no limits. I was actually told by one client not to bring my wife on a trip to Monaco unless I wanted to see her get hit on by 10 guys. The clients of this Geneva-based wealth manager also “believe that they are descended from the pharaohs, and that they were destined to inherit the earth”. As Lane and Harburg put it in the libretto of the musical Finian’s Rainbow: “I am not tax resident anywhere.
Related: Scienze sociali
• Capitalismo, liberalismo, neoliberismo, neoconservatorismo
• Explains a Lot