Abigail Disney isn’t the only wealthy heir to speak out about income inequality
She may be the best known and the most vocal, but Abigail Disney is far from the only heir to a well-known fortune who has spoken out about the perils of income inequality. Other members of prominent, wealthy families have also advocated for higher taxes on the rich and a living wage for all.
She has been a high-profile member of Patriotic Millionaires, which supports an increase in the federal minimum wage to $15 by 2024, a more robust estate tax, higher corporate taxes, plus an equalizing of tax rates on capital gains and income.
And Disney was among 20 wealthy signatories of a recent open letter calling on 2020 presidential candidates to support a moderate wealth tax on the top 0.1% of US households.
These other heirs have also advocated for economic equality.
Munger is a daughter of Charlie Munger, vice chairman of Warren Buffett’s Berkshire Hathaway. She is a member of Patriotic Millionaires and also signed the letter calling for a wealth tax.
Munger is also cofounder and director of the Advancement Project, which seeks to “champion the fair distribution of opportunities and privileges” in California.
And in 2012, Munger donated $44 million in support of a proposition in California that would have progressively increased the state income tax to better support education, according to Ballotpedia.org. The measure was defeated.
Collins is the great-grandson of Oscar Mayer and was heir to the meat company’s fortune.
Collins, however, chose to give away his trust fund at age 26, and dedicate his efforts to fighting economic inequality.
An advisory board member at Patriotic Millionaires, he co-founded the nonprofit group United for a Fair Economy and wrote the book Born on Third Base: A One Percenter Makes the Case for Tackling Inequality, Bringing Wealth Home, and Committing to the Common Good.
Merck belongs to the family that founded drug maker Merck & Co. She is also a member of Patriotic Millionaires.
In 2017, Merck gave a speech asking US leaders to raise her taxes.
“In an economy like ours that is 70% consumer demand driven, putting more money into the hands of those in the lower and middle classes, who will spend it on basic, daily needs rather than stuff it away in an offshore bank account, is not only the smart thing to do but it’s the right thing to do,” she said.
Soros is the son of philanthropist and billionaire investor George Soros.
He serves as global deputy chair of his father’s Open Society Foundations, which fund independent human rights, justice and democratic governance groups.
And he is founder of The Alexander Soros Foundation, which gives awards to activists working on the intersection of environmentalism and human rights.
Both father and son are among those who are advocating for a wealth tax.
Stryker is a granddaughter of orthopedic surgeon Homer Stryker, who founded the Stryker Corporation, a medical device and equipment manufacturer.
A member of Patriotic Millionaires, Stryker also founded the Bohemian Foundation, which seeks to support efforts to narrow the income and wealth gaps and promote a living wage.
Regan Pritzker and Liesel Pritzker Simmons
Both women are heirs to the Pritzker family fortune, which was created through real estate investments and the founding of Hyatt Hotels, the global hospitality brand and hotel chain.
They both signed the open letter calling for a wealth tax.
Regan Pritzker is the president of the board of the Libra Foundation, which gives money to programs focused on equity, justice and social movement building.
Liesel Pritzker Simmons is co-founder of the IDP Foundation, which invests in under-resourced, low-fee private schools in the developing world to help provide a better education for impoverished children.