Nick Hanauer, internet entrepreneur, has a message for his fellow “zillionaires”: the revolution is coming.
Mr Hanauer, an early investor in internet retail giant Amazon, says like many of his fellow one-percenters, he owns his own yacht, multiple homes and private jet. He says he acquired all his wealth by seeing the potential of the internet and acting on it.
Now, he writes in Politico magazine, he sees a different kind of future, and the outlook for people like him is not a bright one:
If we don’t do something to fix the glaring inequities in this economy, the pitchforks are going to come for us. No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn’t eventually come out.
Do you think the US is special or different, he asks. You’re wrong. No nation is immune, he says – just ask the Russian tsars or the French aristocracy.