Billionaires are an ultra-elite social class whose numbers are growing alongside their obscene wealth while others struggle, suffer or even die.
They represent a scourge of economic inequality, but how do they get away with it? A set of dangerous and deceptive inter-connected myths portrays them as a ‘force for good’:
- -the ‘heroic billionaire’ asserts they are gallant protagonists of the American Dream gone global
- -the ‘generous billionaire’ pretends that their philanthropic efforts and personal good deeds should be lauded for generosity and benevolence
- -the ‘meritorious billionaire’ insists that extreme wealth is a worthy reward for individual hard work and talent
- -the ‘vigilante billionaire’ claims to be able to solve the world’s biggest problems where bureaucrats and politicians have failed.
Each of these myths enables billionaire wealth and power to set us back to old-style feudalism and plutocracy.
Offering a trenchant critique, Stinking Rich: The Four Myths of the Good Billionaire (Policy Press, 2025)testifies to the growing international political will to take concrete actions in supporting economic justice and democratic equality.
Carl Rhodes is Professor of Organization Studies at the University of Technology Sydney. He researches the ethical and democratic dimensions of business and work. Carl regularly writes for the mainstream and independent press on issues related to ethics, politics and the economy.
Morteza Hajizadeh is a Ph.D. graduate in English from the University of Auckland in New Zealand. His research interests are Cultural Studies; Critical Theory; Environmental History; Medieval (Intellectual) History; Gothic Studies; 18th and 19th Century British Literature. YouTube channel. Twitter.
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