Economics/Class Relations

The Billionaire vs. the Old Money

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Of the many ways one may piss off their neighbors, knocking down a bunch of mansions to build a 68,000-square-foot complex and then deciding that the plot wasn’t quite big enough and making a behind-closed-doors deal to snatch a patch of a beloved public park isn’t quite the most relatable. But in the case of billionaire Justin Ishbia, a co-owner of the Phoenix Suns, and his neighbors along the Lake Michigan waterfront, the consequences turned out to be familiar enough: Suddenly, the wealthy, connected villagers of Winnetka (unofficial motto: “Change without progress”) were getting a crash course in civic involvement.

—Genevieve Smith, executive editor, New York 

The Billionaire vs. the Old Money On a coveted slice of Lake Michigan, a land swap has triggered a seething fight over the malign influence of wealth.

Photo: Larry Malvin Photography
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