Hedge Fund Billionaires Prepare Their Bunkers

Jan 27 2015 | 9:57am ET

If income equality ever leads to insurrection, the world's wealthiest hedge fund managers will be prepared.

According to Robert Johnson of the Institute of New Economic Thinking, the ultra-rich are buying up land, homes and airstrips in countries like New Zealand in order to escape an uprising by the poor.

Johnson's audience may well have nodded knowingly—he made the remarks at the World Economic Forum at Davos, a talkfest for some of the world's most well-heeled individuals.

Stewart Wallis, executive director of the New Economics Foundation, agreed with Johnson, telling CNBC Africa: "Getaway cars the airstrips in New Zealand and all that sort of thing, so basically a way to get off. If they can get off, onto another planet, some of them would."

He added: "I think the rich are worried and they should be worried. I mean inequality, why does it matter?

"Most people have heard the Oxfam statistics that now we've got 80, the 80 richest people in the world, having more wealth that the bottom three-point-five billion, and very soon we'll get a situation where that one percent, one percent of the richest people have more wealth than everybody else, the 99."

In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...