Rose Kennedy, rose champagne and the rise of the super-rich
When Rose Kennedy was a student at the University of California, Berkeley, she attended classes in a seminar entitled “What to Expect When You Become Rich.”
In it, she wrote about how she and her classmates were told that if they were successful, they would be treated as if they had a super-sized fortune, and they would have to do things like go to the gym, exercise, eat healthy, and even buy expensive cars.
The next year, when Kennedy was twenty-five, she went to the University and found out that her class had been taught the exact same way as it had been when she was in high school: to expect that everyone would be rich, and to expect to be rich when they are rich.
And so, like so many of us, she became an investor.
The lessons from her class were not lost on her.
For decades, she continued to learn and grow, becoming one of the wealthiest women in the world, with assets estimated at more than $10 billion.
But as Kennedy’s wealth grew, she also learned that it didn’t always translate to the people she was invested in.
In a new book titled The Wealth Trap, Kennedy lays out her experience of working in the finance industry.
Her book traces the rise and fall of a very rich woman and her family over the course of her career, and it includes interviews with the most influential people in the industry, including hedge fund mogul John Paulson, former Treasury Secretary Larry Summers, and former President Bill Clinton.
For a woman who spent most of her life working for the government, Kennedy has also written about how the financial system has systematically and repeatedly made its own decisions about the lives of people.
The way that wealth has been created has made it impossible for people to live a life that is worthy of their success, Kennedy writes.
Kennedy talks about how her experience in finance has shaped her views about what it means to be successful.
And it’s hard not to think about the recent financial crisis and how many Americans who have been living in debt for decades, and whose incomes are so low they are now in dire straits, are being pushed into desperation.
The reality is that the financial industry is more powerful than ever, Kennedy says.
And we are seeing people like Warren Buffett and Donald Trump getting rich while others are falling through the cracks.
Kennedy’s story also gives a look at the ways that the system works to ensure that everyone who has the opportunity to join it is given a chance.
In this new book, she shows how a system that rewards the wealthy at the expense of the rest of us has created a world in which the wealthy are given a disproportionate share of our wealth.
She also describes how, in her career as a journalist and entrepreneur, she and other people like her have seen the very same results.
Read more about the rise, fall, and recovery of Warren Buffett on the Wall Street Journal website.