Wall Street Journal: Summer Camp Canceled Because of Coronavirus? Not for These Hamptons Homeowners

Wall Street Journal: Summer Camp Canceled Because of Coronavirus? Not for These Hamptons Homeowners. “When Camp Takajo, the famed Maine sleep-away camp, announced it wouldn’t open this summer due to Covid concerns, many parents panicked at the thought of having their children remain at home after months of lockdown. But real-estate developer Jeff Greene, who has three young sons, jumped into action. He decided to turn his 55-acre North Haven, N.Y., compound, which includes a main house and five smaller buildings, into a private outpost of the summer camp. His first order of business was to call Takajo’s owner and arrange to hire his top staff, including the nature and wilderness counselor, arts and crafts specialist, tennis coach, and since Mr. Greene’s property sits on 3,000 feet of Sag Harbor Bay, the waterfront director.”

$25,000 Pod Schools: How Well-to-Do Children Will Weather the Pandemic (New York Times)

New York Times: $25,000 Pod Schools: How Well-to-Do Children Will Weather the Pandemic. “This fall, a majority of 50 million American children enrolled in public school are almost certainly going to be confined within their homes for part or all of the school day. The numerous harms of being kept out of school — academic, social, emotional, psychological, physical — are felt by all children, but a disproportionate weight will be borne by those with the least resources. The wealthiest children will be ensconced in private schools and catered to by tutors and nannies. For most, there are few options. But for a slice of enterprising American parents with resources, so-called pod schools have arrived.”

Billionaires By The Numbers: New Website Offers Insights Into Nation’s Biggest Fortunes (Americans for Tax Fairness)

Americans for Tax Fairness: Billionaires By The Numbers: New Website Offers Insights Into Nation’s Biggest Fortunes. “A new website launched today provides in-depth insights into the startling reality of America’s billionaires—their growth in numbers and fortunes over recent decades, staggering real-time net worth, and growing political influence. ‘Billionaires by the Numbers’ tracks the fortunes of U.S. billionaires and is particularly vital right now for a nation confronting long-standing economic injustice brought to light by disease, recession and racial oppression.”

BNN Bloomberg: Richest 25% of Americans cut spending the most during pandemic

BNN Bloomberg: Richest 25% of Americans cut spending the most during pandemic. “The richest quarter of Americans cut their consumer spending more than any other income group during the height of the pandemic, according to a study by a group of Harvard University researchers. As a result of high-income earners sharply reducing their expenditures, the revenues of businesses that cater to affluent households suffered, the study from Opportunity Insights, a Harvard research group led by Raj Chetty, John Friedman and Nathaniel Hendren, found.”

Social Europe: Escaping the inequality-data Dark Ages

Social Europe: Escaping the inequality-data Dark Ages. “We are living in the Dark Ages of inequality statistics. More than a decade after the ‘Great Recession’, governments are still unable to track accurately the evolution of income and wealth. Statistical agencies produce income-growth statistics for the population as a whole (national accounts), but not for the ‘middle class’, the ‘working class’ or the richest 1 per cent and 0.1 per cent. At a time when Google, Facebook, Visa, Mastercard and other multinational corporations know intimate details about our private lives, governments still do not capture, let alone publish, the most basic statistics concerning the distribution of income and wealth.”

New York Times: How the Superrich Took Over the Museum World

New York Times: How the Superrich Took Over the Museum World. “MoMA is a prime example. Of its 51 trustees who have a vote, at least 45 (by my count) work in finance, the corporate world, real estate or law, or are the heirs or spouses of the superrich. Only a handful come from outside these gilded ranks, among them the writer and actress Anna Deavere Smith and the Harvard professor of history and race Khalil Gibran Muhammad. As has been widely reported, both MoMA and the Met expect wealthy newcomers to give millions of dollars as the price of membership. (Because donations to museums are for the most part tax-deductible, the giving is leavened with a sizable dose of self-interest.)”

New York Times: On the Internet, No One Knows You’re Not Rich. Except This Account.

New York Times: On the Internet, No One Knows You’re Not Rich. Except This Account.. “In February, an Instagram account called @BallerBusters cropped up and began wreaking havoc on the flashy Instagram entrepreneur community. Its goal: To expose phony entrepreneurs. Using a mix of screen-shotted receipts, memes and crowdsourced information from followers, the account seeks out people who don’t ‘act their wage.'”

LADBible: ‘Exclusive’ New Instagram Account Charges Rich Kids Thousands To Have Photos Featured

LADBible: ‘Exclusive’ New Instagram Account Charges Rich Kids Thousands To Have Photos Featured. “Remember Rich Kids of Instagram? If not, it’s quite self explanatory – it was a TV show that followed rich kids round, while they put all their expensive things and flash holidays all over Instagram. But those rich kids still need things to spend their money on, which is where Golden Price Tag comes in. The Instagram account apparently charges rich people to have their photo posted on the account. What’s worse – it looks like people have actually been paying.”

Quartz: Inequality is a notification we see every time we scroll through our news feed

Quartz: Inequality is a notification we see every time we scroll through our news feed. “At no other point in history have the underclasses of society better understood how the wealthy live. The chimera of life’s material desires is everywhere thanks to the prismatic filters of Instagram and Snapchat. They range from the infinitely absurd—stacks of cash on yachts moored in Monaco—to the mundane made exotic, like lattes sprinkled with gold flakes. This is the currency of social media: the privilege of enviable experience hoarded by the already rich and influential.”