Donald his wealth – has not released his

Donald TrumpDifficult to tell the true extent of his wealth – has not released his tax returns but has faced several bankruptcies with failure of some business ventures such as his casino in ATlantic CityEstimated net worth of #3.47 billion by Forbes, falling further after his election campaignBut Trump’s team filed a personal financial disclosure that said his net worth was > $10 billionTrump presidency has come under intense scrutiny by public and Ethics Office over ethical concerns – not divested itself of their businesses while in office, thus criticized for seeking to enrich themselves to presidencyKardashians and bootyMade their name by putting their lives on display on their reality TV show “Keeping Up With The Kardashians”Kim Kardashian expanded her brand name by having millions of followers on her social media, which largely document the minutiae of a celebrity lifestyleFamous for being famous – describe celebrities who lack talent but are famous nonethelessControversiesFairy tale wedding to Kris Humphrey was an extravaganza that was on full display on her reality show but marriage was called off within 72 days – sham wedding as Kardashians made more than $70 million from various wedding sponsorsSlammed for exploiting marriage for profit, taking public’s appetite for celebrity news as a way to enrich herself by stirring controversyFlaunting enormous diamond ring on social media, supposedly given to her by husband Kanye West, but was tied up and robbed in a luxury Paris apartment a while laterHighlight perils of using social media to flaunt wealth and having a celebrity status built on heavy use of Twitter and InstagramDraws attention to the immense wealth celebrity brings today without much effort, merit or talentDraw criticism for the kind of conspicuous consumption encouraged, living an extremely lavish lifestyle that both fascinated and reviles the publicNouveau Riche flaunting wealthDramatic rise of China as a source of outbound tourists, with Chinese people spending US $7.2 billion overseas on luxuries according to World Luxury AssociationIndicates that newly rich are eager to flaunt their wealth by snapping up clothes, watches, jewellery with a luxury-brand logo”Rich kids of instagram”: Social media has given the rich a global platform for ostentatious displays of wealth, young people from wealthy backgrounds flaunt their luxury items in many outrageous waysNeed for display of wealth suggests that China’s economic development has not been long and Chinese society’s psychology of consumption still not matureDrive towards economic growth has insidiously cultivated a notion that wealth is the only criteria to measure social statusPeople hope to show they have a higher social status by wearing luxurious brandsWall Street BankersGarnered bad reputation as rich, insensitive, unethical ad dishonest people who take from others without ever giving back Squander money people trusted them to investStereotype perpetuated by the media with classic film “Wolf of Wall Street” in which main character uttered the now famous line that embodies Wall Street, “Greed is Good”Occupy Wall Street movement: culmination of public resentment and outrage against bankers, where ordinary people felt that bankers profited from people’s misery and took excessive risks on speculation”We are the 99%” slogan highlights wealth disparity between ordinary people and Wall Street TitansHigh profile cases of banking titans that exploited people’s trust and made millions unethically:Jordan Belfort of “The Wolf of Wall Street” fameBernie MadoffWell-respected financier on Wall Street who exploited the trust and goodwill he had to run the biggest Ponzi Scheme in historyPonzi scheme: fraudulent investment scheme paying investors from money paid in by other investors rather than real profitsDefrauded thousands of investors, victims included hollywood celebrities, wealthy retirees and educational institutes that placed their endowment funds into his supposed investment