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fromwww.nytimes.com
3 weeks agoThe Billionaire Backlash Against a Philanthropic Dream
Warren Buffett's Giving Pledge aimed to encourage billionaires to donate over half their wealth to nonprofit causes.
The report contends that the lower rungs of the middle class shrank because more Americans got richer, with 31% of families classified as upper middle class in 2024.
Kilgour arranged a bank loan and in June 1989 he launched Four Seasons Health Care, taking the name from a restaurant in Midtown Manhattan where he had once dined.
"As budgets are being finalized both at the city and state level, caution would be appropriate. There are so many geopolitical trends that are happening that are way beyond our control."
Defense Secretary Pete Hegseth took the unprecedented step of designating a U.S. firm-Anthropic-as a supply chain risk. Anthropic's crime? It refused to violate industry-wide protocols against using AI for mass surveillance or autonomous weapons. Hegseth's designation, which has until now been reserved for foreign firms, bars U.S. military contractors from doing business with the company.
Special programs we ran for minorities at the firm were often counterproductive. That may be a provocation to other people. But I think if you brand something a remedial program, you're kind of also branding the people who go into that program.
According to Oxfam International's "Resisting the Rule of the Rich: Protecting Freedom from Billionaire Power" report this week, a billionaire boom has coincided with the rise of the richest exerting political influence, with billionaires 4,000 times more likely to hold office than less wealthy people globally. And if those billionaires aren't running for office, they're pouring money into campaigns. Per Oxfam, one in six dollars spent by all U.S. candidates, parties, and committees in the 2024 elections came from 100 billionaire families.
As we kick off 2026, activist investor campaigns are no longer just prevalent; they are global, sophisticated, and have increasingly become an acute threat to corporate leadership. The escalating pressure is undeniable: Barclays data shows that activist investor campaigns hit a high last year - surpassing 2024 by 5% - with 32 CEOs resigning as a result (a record) - and showing no signs of slowing down.