Have Billionaires Gone Too Far?

"The über-rich have enjoyed a remarkable degree of sway in Donald Trump's Washington-but they may now be facing a backlash. The Washington Roundtable traces the signs of invigorated "pitchfork politics," such as Zohran Mamdani's pied-à-terre tax in New York, a wealth tax on the ballot in California, and recent protests against the Amazon founder Jeff Bezos's involvement in the Met Gala -and what these efforts reveal about the cultural and political limits of oligarchy."

"Together they examine whether the "broligarchs" have overplayed their hand, what history tells us about when élites lose their grip on power, and whether the left or the right is better positioned to harness growing inequality and anger as a political weapon heading into the 2026 midterms and beyond."

"Brooke Harrington, a Dartmouth professor of economic sociology who trained as a wealth manager to embed inside the world of the super-rich, joins the panel to connect elite wealth management experience with political and cultural reactions to oligarchic influence."

The wealthy have held significant influence in Donald Trump’s Washington, but signs of backlash are emerging. Examples include Zohran Mamdani’s pied-à-terre tax in New York, a wealth tax proposal on the ballot in California, and protests targeting Jeff Bezos’s involvement in the Met Gala. These efforts reflect cultural and political boundaries on oligarchic power. Brooke Harrington, an economic sociology professor with experience working within wealth management, examines whether “broligarchs” have overplayed their hand. The analysis considers historical patterns of when elites lose control, and whether the left or the right can better convert rising inequality and anger into political leverage for the 2026 midterms and beyond.

Read at The New Yorker