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But those behind the companies that failed often emerged unscathed. ► In the Gilded Age, companies were ruined, jobs lost and savings wiped out by periodic financial panics (1873, 18). The affair, held on the island of Sardinia, featured an ice sculpture of Michelangelo's David urinating Stolichnaya vodka, and a private concert by Jimmy Buffett. In the Second Gilded Age, the 40th birthday party of Tyco CEO Dennis Kozlowski's wife in 2001 cost $2 million, half of which was paid by the publicly-traded company. The costume masquerade ball was attended by 1,000 and established her in New York society.
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► In the Gilded Age, Alva Vanderbilt’s “house warming party’’ for her “Petit Chateau,’’ a Fifth Avenue mansion that was the city’s most sumptuous, cost millions in today’s dollars. Google, meanwhile, accounts for 87% of all internet searches. industries in 2012 were dominated by their four largest companies. According to a UN report, almost half of U.S.
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In the second Gilded Age, consolidation has led toward oligopoly. Rockefeller formed the greatest monopoly in history – Standard Oil - and railroad tycoons schemed to avoid competition. In the second Gilded Age, the 175 billionaires who've signed The Giving Pledge to give most of their wealth include Microsoft founder Bill Gates, Facebook CEO Mark Zuckerberg, former New York Mayor Michael Bloomberg and investor Warren Buffett (who’s also called for higher taxes on the rich). A rich man who dies rich, said industrialist Andrew Carnegie, “dies disgraced.’’ ► In the Gilded Age, philanthropists founded institutions such as the Philadelphia Museum of Art (1876), New York’s Metropolitan Opera (1880), the Boston Symphony Orchestra (1881) and Chicago’s Field Museum of Natural History (1893). In the Second Gilded Age, the Occupy Wall Street movement took to the streets to demand an end to preferential treatment of the rich - the 1% - by the government.