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Richistan: A Journey Through the American Wealth Boom and the Lives of the New Rich

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Author: Robert Frank
Publisher: Crown
Category: Book

List Price: ~~$24.95~~
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Avg. Customer Rating: 4.0 out of 5 stars

55 reviews
Sales Rank: 43187

Media: Hardcover
Number Of Items: 1
Pages: 277
Shipping Weight (lbs): 1.6
Dimensions (in): 9.3 x 5.8 x 1.2

ISBN: 0307339262
Dewey Decimal Number: 305.52340973
EAN: 9780307339263
ASIN: 0307339262

Publication Date: June 5, 2007
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Editorial Reviews:

Product Description
The rich have always been different from you and me, but this revealing and funny journey through “Richistan” entertainingly shows that they are more different than ever. Richistanis have 400-foot-yachts, 30,000-square-foot homes, house staffs of more than 100, and their own “arborists.” They’re also different from Old Money, and have torn down blue-blood institutions to build their own shining empire.
Richistan is like the best travel writing, full of colorful and interesting stories providing insights into exotic locales. Robert Frank has been loitering on the docks of yacht marinas, pestering his way into charity balls, and schmoozing with real estate agents selling mega-houses to capture the story of the twenty-first century’s nouveau riche:

House-training the rich. People with new wealth have to be taught how to act like, well, proper rich people. Just in the nick of time, there’s been a boom in the number of newly trained butlers—“household managers”—who will serve just the right cabernet when a Richistani’s new buddies from Palm Beach stop by.

“My boat is bigger than your boat.” Only in Richistan would a 100-foot-boat be considered a dinghy. Personal pleasure craft have started to rival navy destroyers in size and speed. Richistan is also a place where friends make fun of those misers who buy the new girlfriend a mere Mercedes SLK.

“You want my money? Prove that you’re helping the needy!” Richistanis are not only consuming like crazy, they’re also shaking up the establishment’s bureaucratic, slow-moving charity network, making lean, results-oriented philanthropy an important new driving force.

Move over, Christian Coalition. Richistanis are more Democratic than Republican, “fed up and not going to take it anymore,” and willing to spend millions to get progressive-oriented politicians elected.

“My name is Mike and I’m rich.” Think that money is the answer? Think again as Robert Frank explores the emotional complexities of wealth.

And, as Robert Frank reveals, there is not one Richistan but three: Lower, Middle, and Upper, each of which has its own levels and distinctions of wealth —the haves and the have-mores. The influence of Richistan and the Richistanis extends well beyond the almost ten million households that make up its population, as the nonstop quest for status and an insatiable demand for luxury goods reshapes the entire American economy.

Customer Reviews: Read 50 more reviews...

4 out of 5 stars

Lifestyles of the rich; not necessarily famous June 17, 2008
0 out of 1 found this review helpful

In a word FLUFF! I was hoping for some in-depth analysis of the new rich, but I didn't get it. What you get are mostly individual bios of mostly super-rich Richistanis, describing their spending on enormous houses, yachts, cars, hired help, watches, etc. My impression is that the author had these articles about these few people and thought he could throw together a quick book and make a few bucks. The book is interesting, but you could read this book in a weekend and then mostly forget it. There is one exception; the article on philantrophy details the organization "A Glimmer of Hope" and is excellent.

5 out of 5 stars

Excellent May 15, 2008
My wife grabbed this book for me from the local library on the chance that I might want to read it. Her instincts were right -- after just a few pages, I was hooked!

Though I can't verify it first hand, my sense is that the author has provided an accurate window into the world of the wealthy (over $10 million net worth), giving us a fascinating peek into who these people are, how they became wealthy, how they spend their time and money, and the general upsides and downsides of being wealthy.

I would love to see a book like this written by a good cultural anthropologist -- to explore the culture of the wealthy even more deeply -- but this book still offers plenty of insight, and certainly far more than the shallow sensationalist reporting offered by the regular media.

The book is also very well written and engrossing, and hence a breeze to finish quickly.

Highly recommended for anyone curious about the world of the wealthy.

4 out of 5 stars

How the Other 1% Live May 3, 2008
1 out of 1 found this review helpful

Richistan by Robert H. Frank is a breezy, fascinating account of the USA's richest citizens. He looks at a range of issues that the extremely wealthy face that are (to say the least) quite different from the issues faced by the rest of us. In Richistan, you learn about all of the favorite possessions and pastimes of the contemporary rich.

To me, the most interesting aspect of Richistan is the clash of values in old and new money. Of course, this is an oft-told tale. But you can learn a lot about contemporary American sociology by comparing the fading heirs to "old" fortunes with today's self-made entrepreneurs.

Another aspect of Richistan that I like is the fact that Frank tries not to judge his subjects. Unlike Thorsten Veblen (or many other commentators), Frank does not tell you what to think; he presents the facts and assumes that you are intelligent enough to draw appropriate conclusions. (To be fair to Veblen, conspicuous consumption is still much in style. Some of the things that people spend money on in Richistan are jaw dropping; for instance, billionaires build 500-foot yachts that must be docked next to freighters (not other yachts) due to their size).

Frank's chapter on the problems of the rich is also interesting. He finds that the rich are almost never satisfied with the amount of money that they have; regardless of their wealth, people in Richistan consistently estimate that they need twice their current wealth to be comfortable. It is difficult to read Richistan without at least a few pangs of envy; perhaps this information will provide some balm for your ego.

At the end of the book, Frank speculates on the future of Richistan. Frank states that the concentration of wealth among just a few Americans will continue into the indefinite future; the best that the rest of us can hope for is that the Richistanis will use some of their wealth for worthy causes. I am not sure that I agree with Frank; American history shows that popular opinion on political issues is fickle. My best guess is that, at some point, the 99% of Americans who don't live in Richistan will no longer support the present distribution of wealth. That, however, is just one person's best guess.

In short, if you want to read a fun book about the contemporary wealthy, Richistan is difficult to beat.

4 out of 5 stars

What a view! April 13, 2008
1 out of 1 found this review helpful

Richistanis do, indeed, live in a different America than the rest of us.

This inside view of the lives of the extraordinarily wealthy was very well done by the author. I loved reading about the "Butler School" and thought that part of the book was especially fascinating when the author wrote about how a butler is trained in all aspects of household management.

It helped me realize what a billion is, and how these people, often with many billions, live. After reading this book, I have to say that I am glad that I do not have all the worries associated with great wealth. It is a very complex world, that of the super rich.

An easy and entertaining read. Since reading it, I have been reading the author's blog at the Wall Street Journal, entitled "The Wealth Report".

4 out of 5 stars

Who knew... the rich are actually interesting! March 21, 2008
Who knew... the rich are just like the rest of us... only they are not! The rich suffers are afflicted with the common syptoms of affluenza; including the insecurity with money, fighting the "keeping with the Jones" bug, uneven parental guidance for its children, and how much is really enough?! This book peeks into the rich's playground. Robert Frank's visulization and descriptions almost takes you to the Octopus, Paul Allen's 450 foot yacht. The question is: does size really matter?

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