One of the defining trends of the pandemic has been the creation of extreme wealth at the very top. This week on The Pay Check we take a look at the booming fortunes of the world’s growing billionaire class through one man: Larry Ellison. (Net worth, give or take $90 billion.) Ellison co-founded the tech company Oracle but he may be better known for how he spends his money: yachts, mansions, a tennis tournament. In 2012, he bought an entire Hawaiian island, Lanai — home to 3,000 people. For a decade its residents have anxiously watched Ellison slowly kill their small businesses and push up rents from afar. Then, during the pandemic, Ellison moved there. Bloomberg Wealth reporter Sophie Alexander traveled down to the island to see how the billionaire’s presence has accelerated his plans, and how locals whose families have lived there for generations are managing.

<p>One of the defining trends of the pandemic has been the creation of extreme wealth at the very top. This week on The Pay Check we take a look at the booming fortunes of the world’s growing billionaire class through one man: Larry Ellison. (Net worth, give or take $90 billion.) Ellison co-founded the tech company Oracle but he may be better known for how he spends his money: yachts, mansions, a tennis tournament. In 2012, he bought an entire Hawaiian island, Lanai — home to 3,000 people. For a decade its residents have anxiously watched Ellison slowly kill their small businesses and push up rents from afar. Then, during the pandemic, Ellison moved there. Bloomberg Wealth reporter Sophie Alexander traveled down to the island to see how the billionaire’s presence has accelerated his plans, and how locals whose families have lived there for generations are managing.</p>

The pandemic created a global economic crisis that economists and experts expected would lead to greater wealth inequality than ever before. Host Rebecca Greenfield along with a team of Bloomberg News reporters heads to seven countries around the world to find out what this world changing event has wrought. What they found was surprising.

<p>The pandemic created a global economic crisis that economists and experts expected would lead to greater wealth inequality than ever before. Host Rebecca Greenfield along with a team of Bloomberg News reporters heads to seven countries around the world to find out what this world changing event has wrought. What they found was surprising.</p>

The Pay Check

More than 150 years after the end of slavery in the U.S., the net worth of a typical white family is almost seven times greater than that of the average Black family. Season 3 of The Pay Check digs into into how we got to where we are today and what can be done to narrow the yawning racial wealth gap in the U.S.Jackie Simmons and Rebecca Greenfield co-host the season, which kicks off with a personal story about land Jackie's family acquired some time after slavery that they're on the verge of losing. From there the series explores all the ways the wealth gaps manifests and the radical solutions, like affirmative action, quotas, and reparations, that can potentially lead to greater equality.

Hawaii: When a Billionaire Buys Your Hometown

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0ef1dce3-0ba3-41c2-a32f-aeac01243cc0/transcript

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