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Why America has more billionaires than ever (From the archives)

Shownote

This episode originally aired on July 10, 2025.  Americans have a long history of obsession with the ultrarich, from Carnegie and Rockefeller to Bezos and Musk. And today, the gap between the rich and the poor is bigger than ever as the billionaire class has ascended to new heights. In his book, The Haves and Have-Yachts [https://books.apple.com/us/book/the-haves-and-have-yachts/id6741071687], New Yorker staff writer Evan Osnos explores the extravagant lifestyles of the wealthy and their outsize influence on politics. He sat down with Apple News In Conversation host Shumita Basu to talk about this unique moment — when billionaires are both resented and envied by the public — and what it means for the rest of us.

Highlights

This podcast explores the staggering rise of wealth inequality in modern America, examining how the ultra-wealthy live, the legal tools they use to protect their fortunes, and the profound political influence they wield. The conversation delves into the cultural obsession with billionaires and the fading promise of the American dream.
00:00
We are in a new Gilded Age with unprecedented inequality
03:22
The gap surpasses even ancient societies.
06:26
An arms race for luxury, including cryo saunas and helicopter ski trips.
12:48
Only morons pay estate taxes.
22:51
Extreme wealth gaps threaten democracy

Chapters

A New Gilded Age: How Jeff Bezos's Wedding Exposes America's Extreme Wealth Gap
00:00
Are We Worse Off Than the Pharaohs? The Fading American Dream for Millennials and Gen Z
03:22
Inside the Superyacht Arms Race: Cryo Saunas, Remote Surgery, and CEO Pay at 350-to-1
06:26
Why Only 'Morons' Pay Estate Taxes: Lessons from Rockefeller and Carnegie on Wealth Distribution
12:48
From Civil to Sultanistic Oligarchy: How Billionaire Money is Distorting Democracy and Policy
19:29

Transcript

Shumita Basu: Hey there, it's Shumita here. I am still out on parental leave, but wanted to bring you this episode from our archives. It's a fascinating look at the ever-growing ultrarich class in America. I hope you enjoy it. This is In Conversation from ...