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Where the billionaire class lives

Bloomberg Equality
Bloomberg

The 1% versus the working class. Men versus women. Police versus people of color. Candidates in the Democratic presidential debate Wednesday night turned to powerful issues of financial, gender and racial inequality to set themselves apart at a critical moment in the 2020 primary season.

The five returning contenders all took swings at the newcomer, Michael Bloomberg (founder and majority owner of Bloomberg LP, the parent company of Bloomberg News). Critiques by frontrunner Senator Bernie Sanders, as well as Senator Elizabeth Warren and former Vice President Joe Biden, included attacks on billionaires, workplace gender bias and racially discriminatory practices by the New York City Police Department. Bloomberg, having previously apologized for the NYPD's profligate use of "stop-and-frisk" in minority neighborhoods, defended capitalism and said his company deals with employee misconduct claims swiftly. Bloomberg also argued that he's the only candidate who can beat President Donald Trump in November.

Chalk up at least one win for equality at the debate: Warren and Senator Amy Klobuchar each spoke for more minutes than any of the men on stage. Women in presidential debates are often talked over and interrupted. This time, they persisted. —Philip Gray 

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Pay disparities haven't been erased by the tight labor market during an 11-year expansion of the U.S. economy. Indeed, the black-white wage gap has actually grown.

China's coronavirus protocols, intended to limit contagion by keeping shoppers and travelers at home, have hit some companies so hard that they are no longer paying employees. And Filipino families are struggling as domestic workers are prevented from returning to their jobs Hong Kong.

The once-staid role of treasurer is turning into a path to power for Beth Hammack at Goldman Sachs. She's being groomed to join the bank's all-male leadership.

Maven, which started with telehealth aimed at women, is expanding to make employer fertility benefits easier to understand and use.

Looking back during Black History Month: For over a century, these black voices in finance, business and economics refused to be silenced.

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The U.S. workforce is skewing older, and older workers are more at risk of occupational fatalities. What kind of accidents are most responsible for killing them? As Justin Fox explains in Bloomberg Opinion, "elderly farmers are dying when their tractors or pickup trucks tip over."

Where the billionaire class lives

The Silicon Valley suburb of Atherton, California, just became the only community in America with an average household income over $500,000, according to Bloomberg's Richest Places annual index. It's been home to Eric Schmidt of Google, Sheryl Sandberg of Facebook, Paul Allen of Microsoft and Stephen Curry of the Golden State Warriors. The second-highest-earning community in the nation was once again Scarsdale, New York.

 

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