This 49storey glass tower is a hive of highstakes speculation that looks more like stockbuying than property purchasing. Jill Mahoney and Matthew McClearn analyzed. All those guys love talking about how much money they have. Its what they like to do. Asme Pcc 2 2011 Download. Most of the billionaires Trump has lured to D. C. are, like him, members of the 1. They got rich off of emerging financial tactics crafted to take advantage of Ronald Reagans great gift to Wall Streetripping up the regulations put in place after the Great Depression. Trump adviser and corporate raider Carl Icahn net worth 1. Michael Douglass Greed is good character in Wall Street. Commerce Secretary Wilbur Ross 2. Stephen Schwarzman 1. Stephen Feinberg 1. Wall Street decreed that social responsibility and businessthe Jimmy Stewart banker modelwere antithetical. The New York real estate developers now advising the presidentSteven Roth net worth 1. Richard Le. Frak 6. Trump in a mosh pit with politicians, city regulators, 5. New York skyline and the surrounding areas malls, golf courses and housing developments. Whether they earned their money in investment banking or New Jersey strip malls and high rises, Trumps billionaires have much in common with the rest of the New Yorks 1 percent. They dont pay much in taxes, and most dont think they should pay much more. They loathe government regulations, and they are ferociously competitive. They all know each other. They finance each other. And they all compete with one another, says Holly Peterson, journalist, author of It Happens in the Hamptons and daughter of Peter Peterson, one of the New York billionaires who is not in Trumps camp. They sniff each other like dogs. But none of them areagain, like the presidentburrowed into New York high society. In 1. 98. 3, when Paul Fussell wrote his book Class A Guide Through the American Status System, examining class in the U. S. from top to bottom, he described how one sign of top status was inherited wealth, and another the discreet display of that wealth. Those rules dont apply anymore, at least not in New York society. Trump and his billionaires are elaborately and publicly rich, and while some of their dads were wealthy, they didnt all start out that way. Schwarzman, the chairman of Trumps Strategy and Policy Forum, is the son of a Pennsylvania dry goods store owner, and he now divides his time between a 3. Park Avenue triplex, a Hamptons estate and villas in Palm Beach, Florida, and Jamaica. He is famous for blowing millions on his birthday bashes. Icahn went to a public high school in Far Rockaway, long before he bought himself a 1. With the exception of Ross and his 2. New York Public Library Schwarzman or embossed in brass on the soaring buildings that house their companies. Trump famously smashed precious historic Bonwit Teller buildings architectural elementscoveted by the Metropolitan Museum of Artto bits because to preserve them would have delayed work on Trump Tower by two weeks. Roth once left a massive eyesore of a hole in midtown Manhattan for nearly 1. New York billionaires are sometimes known for their noblesse oblige or devotion to civic causes, but not this crew. They are social circuit philanthropists. Former Mayor Michael Bloomberg the eighth richest man in the world, net worth 4. New York City while he was in office. New York billionaire Peter Peterson, Schwarzmans former partner, put 1 billion into an economic think tank. And, along with Bill Gates, Warren Buffett and 4. Giving Pledge, in which all promised to donate the majority of their wealth to charity. Schwarzman gave the New York Public Library 1. The New Yorker for stinginess. He has given, but not remotely what he could, sniffed one anonymous critic in that article. Financial writer James B. Stewart has described how Schwarzman had trouble booking a prime table in the Grill Room at the Four Seasons, a high society lunchtime scene. Schwarzman asked his then partner, Peterson, about it, who explained, It takes more than just money. Trumps billionaires, while the richest men in New York City, are a tier below the cultural financial establishment, the aristocracy. I think the nature of all these guys is that they are not a part of a power or moneyed establishment, says one Manhattan private equity investment banker who knows most of them. You can be very, very rich without being terribly important here. Its not like Trump has assembled a cabal of pathbreakers who disrupted the 2.