Browsing by Subject "Ultra-Wealthy"

The unprecedented, uninterrupted increase in wealth accumulation by the top 0.1% supports the social, economic, and political hegemony of the ultra-wealthy. These elites are increasingly occupying positions of authority that were historically reserved for figures from the public sector through their philanthropic activities and (largely) invisible support for right-wing populism, among other things. Most billionaires prefer to stay hidden from view, which makes research on the ultra-wealthy challenging. This thesis focuses on a specific section of elites that are very much not hidden: celebrity tech-billionaires who are not just public figures but celebrated and mythologized by a global audience. This thesis aims to understand how three of the most wealthy and celebrated celebrity tech-billionaires – Elon Musk, Mark Zuckerberg, and Bill Gates – use the power and reach of social media to present and justify their increasing levels of authority and wealth. The primary source of data are social media posts by the three subjects from late 2023. In total, the data set consists of 618 posts by Elon Musk on X, 118 posts by Bill Gates on X, and 38 posts by Mark Zuckerberg on Instagram. The analysis is supplemented by a secondary source of data, which are online news articles from the Forbes.com website (156 articles on Elon Musk, 15 articles on Bill Gates, and 16 articles on Mark Zuckerberg). This data is analysed using concepts from both Bourdieu’s field theory and Impression Management theory. The meta-narratives presented by the subjects are analysed using a framework to research the representation and implementation of social values. The analysis reveals that the three subjects primarily engage with, and claim authority in, the following fields of power: science (engineering), business (entrepreneurship), (social) media, and philanthropy. Moreover, Musk is highly active in the ‘alternative field’ through his engagement with conspiracy theories. Highlighted are the patriarchal expressions of the subjects, which are steeped in the myth of the self-made man, ‘geek’ masculinity, and post-feminist fatherhood. Additionally, the analysis shows that social media is an important and effective space for desirable self-presentation. The dual display of expertise/humility and professional authority/domestic normality allows the subjects to shore up moral legitimacy and signal authenticity, which in turn legitimizes the importance and morality of the value projects in their meta-narratives. With the aid of overarching meta-narratives, the diverse (and sometimes contradictory) nature of the subjects’ increasing power and wealth is explained away as necessary constituents in their pursuit of important social values that are beneficial for all: ‘saving humanity’ (Musk), ‘connectivity and disease eradication’ (Zuckerberg), and ‘global progress’ (Gates). What results is the sustainment of cultural myths that pose ultra-wealth as ultimately beneficial and desirable for everybody. What also remains is the undefeated hegemony of the super-rich, the uninterrupted progression of destructive consumerist capitalism, and a growing wealth gap. Recommendations for future research include the design of new methodological tools that allow holistic retrieval of social media data and exploring the interplay between these subjects’ self-presentations and audience perception.