The high-end art dealer exposing the industry's sordid secrets

The MoJo Daily newsletter, Monday through Friday. [View in browser]( [Mother Jones Daily Newsletter](     February 1, 2024 It's odd the way oligarchy came to be associated, at least in the American psyche, with Russia, a nation that's only a few decades old. After all, as the political scientist Jeffrey A. Winters pointed out yesterday in Mother Jones, [Aristotle was writing about oligarchy]( long before Christ landed in his manger. When America was still in its infancy, John Adams [wrote]( to Thomas Jefferson to argue that the fledgling republic was by no means impervious to the ageless struggle between "the few and the many." In earlier writings, Adams had cautioned, "In every society known to man, an aristocracy has risen up in the course of time, consisting of a few rich and honorable families who have united with each other against both the people and the first magistrate.” Well, those families have won. My own book on the subject, Jackpot, was published in April 2021, a brief moment when it seemed the "many” might finally be in a position to claw back a few crumbs from the "few." But no such luck—and today, despite his administration's efforts, Joe Biden has all but succumbed to the American oligarchy: In the 24 months following his inauguration, based on data from RealTimeInequality.org, the average inflation-adjusted income, after taxes, of middle-class households increased by about $1,500 (1.2 percent), while that of the top 0.01 percent of US families soared by $6.7 million (19.2 percent). What to do with such a windfall? Buy art, of course! Among the several quirkier stories in Mother Jones’ American Oligarchy package, one of my faves was "[Monet Changes Everything,](" wherein former art dealer to the billionaire class Ezra Chowaiki details how high-end art collecting, just like philanthropy, can be used to rehabilitate tainted billionaires' reputations. [In Chowaiki's telling](, art, combined with tax-dodgy “free ports” and the wildly permissive security of private jet travel, is just a lovely way to conceal one’s wealth from exes, creditors, and Uncle Sam—or simply to get out of dodge, assets intact. “I want art that fits in my suitcase,” one Russian oligarch tells Chowaiki. “That way, if something crazy happens, I can take my art and get the fuck out of here.” [Speaking of which](. —Michael Mechanic Advertisement [House Donation Ad]( [Top Story] [Top Story]( [Monet Changes Everything]( Tainted billionaires rejoice—redemption is an auction away. BY EZRA CHOWAIKI MOJO MUST-LISTENS BY REVEAL   MoJo Daily readers you need to listen to Reveal! Have you ever listened to a podcast and said to yourself, “That would make a great movie”? Reveal is that podcast. Each week the Center for Investigative Reporting brings listeners thought-provoking stories that both inform and inspire. Click this [link]( to check out Reveal’s latest episode. Also watch [Victim/Suspect]( on Netflix, and [The Grab]( this summer on Hulu. Both are from Reveal investigations and exemplify the powerful work Reveal has done for more than a decade. [Trending] [The border convoy that's bringing together all of the right's favorite conspiracies]( BY KIERA BUTLER   [What it’s like to celebrate Black history in a state where it’s banned]( BY NIA T. EVANS   [Researchers fault climate change for 4 million deaths since 2000]( BY ZOYA TEIRSTEIN   [It’s time the word “oligarch” lost its Russian veneer]( BY JEFFREY A. WINTERS Advertisement [House Donation Ad]( [Special Feature] [Special Feature]( [Can Cori Bush hold on?]( Ten years ago, Ferguson launched Rep. Cori Bush and Wesley Bell's careers. Today, Israel's war in Gaza has them facing off. BY JACK MCCORDICK [Fiercely Independent] Support from readers allows Mother Jones to do journalism that doesn't just follow the pack. [Donate]( Did you enjoy this newsletter? Help us out by [forwarding]( it to a friend or sharing it on [Facebook]( and [Twitter](. [Mother Jones]( [Donate]( [Donate Monthly]( [Subscribe]( This message was sent to {EMAIL}. To change the messages you receive from us, you can [edit your email preferences]( or [unsubscribe from all mailings.]( For advertising opportunities see our online [media kit.]( Were you forwarded this email? [Sign up for Mother Jones' newsletters today.]( [www.MotherJones.com]( PO Box 8539, Big Sandy, TX 75755