Billionaires in World Politics shows how the privatization of politics assumes a new dimension when billionaires wield power in world politics, which requires a re-thinking of individual agency in International Relations. Structural changes (globalization, neoliberalism, competition states, and global governance) have generated new opportunities for individuals to become extremely rich and to engage in politics across borders. The political agency of billionaires is being conceptualized in terms of capacities, goals, and power, which is contingent upon the specific political field a billionaire is trying to enter. Six case studies explore the power of billionaires in their pursuit of security, wealth, and esteem. The chapter on security analyzes Raj Rajaratnam's relationship to the Tamil cause in Sri Lanka, and Sheldon Adelson's transnational electioneering in the Israel-Palestine conflict. Regarding the economy, the book studies how the Koch brothers' political protection of fossil fuels is affecting climate change mitigation, and how Rupert Murdoch's opinion-shaping is valorizing conservatism across borders. The chapter on social entrepreneurship and esteem examines the role of Bill Gates in the governance of global health and George Soros's attempts to build open societies as a 'stateless statesman'. An analytical conclusion evaluates the prior findings in order to address three major questions: Is it more appropriate to see billionaires as 'super-actors', or as a global 'super-class'? What is the relative power of billionaires within the international system? What does the power of billionaires mean for the liberal norms of legitimate political order?

"This book shows how the privatization of politics assumes a new dimension when billionaires wield power in world politics, which requires a re-thinking of individual agency in International Relations. Structural changes (globalization, neoliberalism, competition states, and global governance) have generated new opportunities for individuals to become extremely rich and to engage in politics across borders. The political agency of billionaires is being conceptualized in terms of capacities, goals, and power, which is contingent upon the specific political field a billionaire is trying to enter. Six case studies explore the power of billionaires in their pursuit of security, wealth, and esteem. The chapter on security analyzes Raj Rajaratnam's relationship to the Tamil cause in Sri Lanka, and Sheldon Adelson's transnational electioneering in the Israel-Palestine conflict. Regarding the economy, the book studies how the Koch brothers' political protection of fossil fuels is affecting climate change mitigation, and how Rupert Murdoch's opinion-shaping is valorizing conservatism across borders. The chapter on social entrepreneurship and esteem examines the role of Bill Gates in the governance of global health and George Soros's attempts to build open societies as a 'stateless statesman'. An analytical conclusion evaluates the prior findings in order to address three major questions: Is it more appropriate to see billionaires as 'super-actors', or as a global 'super-class'? What is the relative power of billionaires within the international system? What does the power of billionaires mean for the liberal norms of legitimate political order?"--Publisher's description.

A look into the covert influence billionaires wield in American politics and the actions citizens can take to hold them more accountable. In 2016, when millions of Americans voted for Donald Trump, many believed his claims that personal wealth would free him from wealthy donors and allow him to “drain the swamp.” But then Trump appointed several billionaires and multimillionaires to high-level positions and pursued billionaire-friendly policies, such as cutting corporate income taxes. Why the change from his fiery campaign rhetoric and promises to the working class? This should not be surprising, argue Benjamin I. Page, Jason Seawright, and Matthew J. Lacombe: As the gap between the wealthiest and the rest of us has widened, the few who hold one billion dollars or more in net worth have begun to play a more and more active part in politics—with serious consequences for democracy in the United States. Page, Seawright, and Lacombe argue that while political contributions offer a window onto billionaires’ influence, especially on economic policy, they do not present a full picture of policy preferences and political actions. That is because on some of the most important issues, including taxation, immigration, and Social Security, billionaires have chosen to engage in “stealth politics.” They try hard to influence public policy, making large contributions to political parties and policy-focused causes, leading policy-advocacy organizations, holding political fundraisers, and bundling others’ contributions—all while rarely talking about public policy to the media. This means that their influence is not only unequal but also largely unaccountable to and unchallengeable by the American people. Stealth politics makes it difficult for ordinary citizens to know what billionaires are doing or mobilize against it. The book closes with remedies citizens can pursue if they wish to make wealthy Americans more politically accountable, such as public financing of political campaigns and easier voting procedures, and notes the broader types of reforms, such as a more progressive income tax system, that would be needed to increase political equality and reinvigorate majoritarian democracy in the United States. Praise for Billionaires and Stealth Politics “Incredibly important. The authors provide—for the first time—a clear sense of the politics and political activity of the top one hundred billionaires in America, matching what billionaires have said with what they’ve done and showing the troubling transparency gap that is critical to the evolution of policy. Billionaires and Stealth Politics is a key addition to understanding our current political reality, focused on it most significant lever.” —Lawrence Lessig, author of America, Compromised “The wealth held by American billionaires exceeds the Gross Domestic Product of dozens of countries. They exercise tremendous influence over society, the economy, and politics. Yet their impact is not well-understood. Page, Seawright, and Lacombe have given us a compelling and original piece of work on an important topic.” —Darrell M. West, Brookings Institution

Analyzes the growing divide between the incomes of the wealthy class and those of middle-income Americans, exonerating popular suspects to argue that the nation's political system promotes greed and under-representation.

When Bloomberg News invited the young American journalist Alex Cuadros to report on Brazil's emerging class of billionaires at the height of the historic Brazilian boom, he was poised to cover two of the biggest business stories of our time: how the giants of the developing world were taking their place at the center of global capitalism, and how wealth inequality was changing societies everywhere. The billionaires of Brazil and their massive fortunes resided at the very top of their country's economic pyramid, and whether they quietly accumulated exceptional power or extravagantly displayed their decadence, they formed a potent microcosm of the world's richest .001 percent. They held sway over the economy, government, media, and stewardship of the environment; they determined the spiritual fates and populated the imaginations of their countrymen. In 2012, Eike Batista ranked as the eighth-richest person in the world, was famous for his marriage to a beauty queen, and was a fixture in the Brazilian press. But by 2015, Batista was bankrupt, his son Thor had been indicted for manslaughter, and Brazil--its president facing impeachment, its provinces combating an epidemic, and its business and political class torn apart by scandal--had become a cautionary tale of a country run aground by its elites. Over four years, Cuadros reported on media moguls and televangelists, energy barons and shadowy figures from the years of military dictatorship, soy barons who lived on the outskirts of the Amazon, and new-economy billionaires spinning money from speculation. His zealous reporting takes us from penthouses to courtrooms, from favelas to art fairs, from scenes of unimaginable wealth to desperate, massive street protests. Within a business narrative that deftly dramatizes the volatility of the global economy, Cuadros offers us literary journalism with a grand sweep.--Adapted from dust jacket.

An insider's account of the dirty dealings, backroom donations, and mega-wealthy donors that turned political campaigns into money races—from the notorious political fundraiser

Can one of the richest men in the world be a good person? The rich are not like us. Great wealth brings both power and immunity, a pairing that opens a yawning moral abyss at the feet of the world’s billionaires. Carlos Slim is one of eight people whose combined wealth equals that of the 3.6 billion people who make up the poorest half of humanity. A businessman who dominates telecoms and global real estate, and a major shareholder of the New York Times, Slim exerts a degree of power in Mexico unmatched by any politician. The biography of Carlos Slim, one of the richest people of all time, is a case study in the ethical and psychological effects of extraordinary wealth. Not just the tale of the first man from a developing country ever to reach the top of the Forbes list of billionaires, it presents a living embodiment of the financial mentality of our time, a man who mistrusts politicians and believes the market to be the answer to everything—even corruption. In short, Slim’s story is that of Latin America’s last half century and indeed the wider world. After years of thorough investigation, Diego Osorno has produced an extraordinary portrait detailing the effects of great wealth. His time with Slim forces Osorno to pose an age-old question: What does it profit a man if he gains the world and loses his own soul?