In the ballroom of the five star Savoy hotel on the Strand in central London, the super-rich and their advisers were this week advised that they may soon need to watch out for people with “pitchforks and torches” unless they do more to use their fortunes to help the millions struggling with the cost of living crisis.
At an investment conference organised by Spear’s wealth management magazine, members of the global elite and their financial teams were told by progressive advisers that there was a “real risk of actual insurrection” and “civil disruption” if the yawning inequality gap between rich and poor was allowed to widen as a result of energy and food price hikes hitting squeezed households.
