The Federal Reserve calculates that, at present, America’s total household wealth equals $104 trillion. Of that, $3.4 trillion belongs to America’s 600 billionaires alone. Put another way, 3% of the nation’s wealth belongs to 0.0002% of the population. Those 600 names control twice as much wealth as the least wealthy 170 million Americans combined. This is a problem. Economic power means political power. In an era of mass media, it has never been easier to manufacture public opinion and to manipulate the citizenry.
Look no further than the consensus view of Fortune 500 companies as to the virtues of Black Lives Matter. That movement’s incredible cultural reach is, in large part, a function of its cachet among American elites. In 2016, the Ford Foundation began a Black-Led Movement Fund to funnel $100 million into racial and social justice causes. George Soros’ Open Society Foundation immediately poured in $33 million in grants.
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