Crypto Crash Widens a Divide: ‘Those With Money Will End Up Being Fine’ (New York Times)

New York Times: Crypto Crash Widens a Divide: ‘Those With Money Will End Up Being Fine’. “Enthusiasts promote the digital coins — which are exchanged using networks of computers that verify transactions, rather than through a centralized entity like a bank — as a means for people of all backgrounds to achieve transformational wealth outside the traditional finance system. But for all those supposedly egalitarian principles, crypto’s collapse has revealed a yawning divide: As employees of crypto companies lose their jobs and ordinary investors suffer huge losses, top executives have emerged relatively unscathed.”

Indiana University: Digital timeline tracks ‘Making and Unmaking of Black Wealth’ to aid racial justice conversations

Indiana University: Digital timeline tracks ‘Making and Unmaking of Black Wealth’ to aid racial justice conversations. ‘Land, Wealth, Liberation: The Making and Unmaking of Black Wealth in the United States’ is an interactive timeline with photos, videos, historical information and resources for educators covering 1820 to 2020. The project explores the ways African Americans in the U.S. have produced wealth, and the factors that have affected their ability to build and maintain wealth and access economic opportunities.”

Reuters: Think tank calls for EU database to help trace oligarchs’ assets

Reuters: Think tank calls for EU database to help trace oligarchs’ assets. “The European Union should create an asset database to help to track down the owners of assets held by shell companies and make EU sanctions against Russian oligarchs more effective, a think tank said on Wednesday. The 27-nation EU has imposed restrictions on 877 individuals, including wealthy Russian oligarchs and other prominent business people, over Russia’s aggression against Ukraine.”

Berkeley News: Tracking inequality in real time — a powerful new tool from Berkeley economists

Berkeley News: Tracking inequality in real time — a powerful new tool from Berkeley economists. “UC Berkeley economists have launched a powerful new web tool that allows users to track, almost in real time, how economic growth and public policy affect the distribution of income and wealth among classes in the United States. The website, Realtime Inequality, is an extension of the pioneering work done by Berkeley economists Emmanuel Saez and Gabriel Zucman that explores how law and policy in the U.S. and worldwide result in profound inequality in the distribution of economic resources.”

Brookings Institution: The external wealth of nations database

Brookings Institution: The external wealth of nations database. “For the past several years, Gian Maria Milesi-Ferretti, now a senior fellow in the Hutchins Center at Brookings, and Philip Lane, now chief economist of the European Central Bank, have been curating a database on external financial assets and liabilities for more than 200 countries that stretches back to 1970—the External Wealth of Nations. The Hutchins Center is now making the entire dataset [Excel download] widely available online and will update it regularly.”

Illicit Enrichment: A Guide to Laws Targeting Unexplained Wealth – new book published by Basel Institute on Governance (EIN Presswire) (PRESS RELEASE)

EIN Presswire: Illicit Enrichment: A Guide to Laws Targeting Unexplained Wealth – new book published by Basel Institute on Governance (PRESS RELEASE). “A new open-access book published by the Basel Institute on Governance explores the rapid growth of illicit enrichment legislation around the world and its use to target corruption and recover illicitly obtained assets.” The book also includes a database laws from 103 jurisdictions.

Preachers and their $5,000 sneakers: Why one man started an Instagram account showing churches’ wealth (Washington Post)

Washington Post: Preachers and their $5,000 sneakers: Why one man started an Instagram account showing churches’ wealth. “On his feed, [Ben] Kirby has showcased Seattle pastor Judah Smith’s $3,600 Gucci jacket, Dallas pastor T.D. Jakes’s $1,250 Louboutin fanny pack and Miami pastor Guillermo Maldonado’s $2,541 Ricci crocodile belt. And he considers Paula White, former president Donald Trump’s most trusted pastoral adviser who is often photographed in designer items, a PreachersNSneakers ‘content goldmine,’ posting a photo of her wearing $785 Stella McCartney sneakers.”

Reuters: How a 10-second video clip sold for $6.6 million

Reuters: How a 10-second video clip sold for $6.6 million. “The video by digital artist Beeple, whose real name is Mike Winkelmann, was authenticated by blockchain, which serves as a digital signature to certify who owns it and that it is the original work. It’s a new type of digital asset – known as a non-fungible token (NFT) – that has exploded in popularity during the pandemic as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online.”

Super-Concierge Doctors, High-Design Home Classrooms, and Catered Backyard Dinners: Lifestyles of the Rich and Quarantined (Washingtonian)

Washingtonian: Super-Concierge Doctors, High-Design Home Classrooms, and Catered Backyard Dinners: Lifestyles of the Rich and Quarantined. “Dr. Brown said he would charter the plane himself. He was nervous—the patients wanted him at their summer home in St. Michaels to screen them for Covid immediately. But it was a Thursday in summer, and driving would take forever. Forget about taking the car. Instead, Ernest Brown, owner of Doctors to You, a Washington-area concierge-medicine group whose house-yacht/private-jet calls start at $600 a pop, drove to Gaithersburg and hopped a puddle jumper to the airport in Easton. The patients, who needed to be screened in order to meet with another VIP, sent a car to meet him. All told, Brown was at their waterfront estate for ten minutes, max. Results: negative.”

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.”