The Billionaire's Dilemma: How Sports Ownership and Philanthropy Became Status Symbols The news that billionaires have never been richer, with 3,795 individuals collectively holding a record $15.
1 trillion in wealth, is not surprising given the trends of late stage capitalism.
However, it is surprising – or at least, should be – how these ultra wealthy individuals are choosing to deploy their fortunes: buying up sports teams and funding philanthropic causes with reckless abandon.