Audio Pick: The Number of Millionaires in Houston is Growing — Is that Good or Bad?

General, In the News & Around the Web

In a follow-up to my recent post, “Houston is No. 1 in growth, food, and multimillionaires,” I’m sharing a story by Houston Matters addressing the growth of multi-millionaires. They’re asking the question: is the growth a good thing or a bad thing for the city?

A study from New World Wealth reported Houston has the fastest growing community of multi-millionaires in the country.

While that might sound good, does this mean our income divide is growing wider — or does a rising tide really raise all boats? And how did CEO compensation packages actually grow to this level, not to mention the golden parachutes that are attached.

We discuss millionaires in Houston: are they a symptom of a growing problem or the sign our economic woes are cured? Our guests are Mark W. Frank, professor of economics and international business at Sam Houston State University and David De Angelis, assistant professor of finance at Rice University.

You can find the Houston Matters story here.

https://soundcloud.com/houstonmatters/the-number-of-millionaires-in-houston-is-growing-is-that-good-or-bad

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