The Announcement: The Myth of the 'Good' Billionaire

In this first follow-up Announcement episode, I explore a question which I began to examine in episode two of The Announcement, and which is now at the centre of global politics: are billionaires fundamentally damaging to democracy, regardless of their political leanings?

I'm joined once again by Carl Rhodes, academic and author of Woke Capitalism: How Corporate Morality is Sabotaging Democracy and his new book Stinking Rich: The Four Myths of the Good Billionaire.

This conversation builds on our earlier examination of Patagonia's decision to transfer ownership to a climate-focused trust, which formed a large part of episode two of the original series. When we first spoke, many viewed the critique Rhodes espoused as a nuanced and even obscure point (particularly to partial commentators inclined to see Patagonia and Chouiniard’s actions as ‘good’ by default).

In the months since, especially following Trump's inauguration, this critique has become one of the most contentious topics in global politics. The growing influence of Elon Musk and his DOGE cadre, for example, has suddenly made Rhodes' arguments much more accessible to millions of people worldwide.

Which is why I decided to release my first conversation with Rhodes in its entirety, and record a follow-up conversation in which we explore billionaire influence in our current political landscape, and discuss alternatives to billionaire-led social change.

From this conversation, you'll gain insights into:

How billionaire philanthropy can undermine democratic processes

Why the "good billionaire" narrative is problematic for public policy

What democratic alternatives to billionaire-led social change might look like

Once you've had a chance to listen, I'd love to know what you think about these conversations with Carl and the topics we discussed.

For bonus and behind-the-scenes material, click here.

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