Billionaire Trump Adviser Explains How Rich People Feel About Poor People

Billionaires Donald Trump and Steve Wynn

In September, FOX Business’ Charlie Gasparino reported that Las Vegas casino tycoon Steve Wynn was serving as a “Trump campaign adviser.”

Gasparino reported that the two billionaires share much in common and that the two speak regularly.

But Wynn and Trump share many things in common; both are consummate showmen and have made billions in real estate. They have also shown a penchant to support candidates on both sides of the political aisle, almost a prerequisite for success in the real estate business, which is heavily regulated by government.

Steve Wynn, the founder of Wynn Resorts, in a presentation to investors Wednesday night, stepped in it when trying to make the pitch that his brand is synonymous with luxury brands like Louis Vuitton or Chanel.

In a line that may come back to haunt both Wynn and Trump, a fellow billionaire who has managed to somehow paint himself as relatable to blue-collar voters, Wynn said that rich people don’t like being around poor people.

CNBC Reports (emphasis added) Steve Wynn told investors:

“Or to put it in a more colloquial way, rich people only like being around rich people. Nobody likes being around poor people, especially poor people. So we try and make the place feel upscale for everyone. That is to say, we cater to people who have discretion and judgment and we give them a choice and we are consistent in that.”

So Wynn is making the point that he wants to create an “environment” of wealth that draws all kinds of crowds. That’s a reasonable business plan. It’s just that the “poor people” language coming from the mouth of a Picasso- and Ferrari-collecting billionaire may have been a, well, poor choice of words.

Elitist Donald Trump has avoided — to his credit — the class warfare problems that Mitt Romney faced in 2012 about his riches, at least in the GOP primary.

Boneheaded comments like Wynn’s probably aren’t going to help Trump’s persona as a “regular guy.”



About the Author

Matthew K. Burke
Matthew K. Burke
A former Washington State U.S. Congressional candidate in 2010, Matthew attended the nation’s first modern day Tea Party in 2009 in Seattle, Washington. He also began writing and blogging that year. Matthew became a Certified Financial Planner in 1995 and was a Financial Advisor for 24 years in his previous life. Matthew was one of the three main writers leading a conservative news site to be one of the top 15 conservative news sites in the U.S. in a matter of months. He brings to PolitiStick a vast amount of knowledge about economics as well as a passion and commitment to the vision that our Founding Fathers had for our Republic.

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