Billionaire brain rot: Guy and Avi tackle the Rich List
How did New Zealand's richest people get so rich? And have billionaires got too much money for their own good? Guy Williams and Avigail Allan investigate in the latest episode of The State of It.
While many are struggling through an economic downturn, New Zealand's richest are doing rather well. According to the latest Rich List, the wealth of our wealthiest 134 families grew by around 25 percent in a single year.
So where is this wealth coming from? And how much money is too much for one person?
In the latest episode of The State of It, Guy Williams and Avigail Allan take a closer look at New Zealand's super-rich, drawing on Ollie Neas' interview in June with journalist and researcher Max Rashbrooke.
They explore how the privatisation of public assets helped create some of New Zealand's biggest fortunes, why the wealthiest New Zealanders pay proportionately less tax than ordinary workers, and whether the country has developed its own class of oligarchs.
Along the way, Guy attempts to explain the philosophy of Ayn Rand, the author beloved by libertarians and billionaires everywhere. Guy has some thoughts. Mostly about the philosophy of greed, but also about Rand's extraordinarily messy sex life.
Watch the full episode below and subscribe to Public Interest for more conversations making sense of politics and power in Aotearoa.
This episode was edited by Gilbert Patten-Elliot. For a more serious look at the issues discussed in this episode, watch our interview with Max Rashbrooke, What does the Rich List say about New Zealand.
