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Paris Diary: Income Inequality

While stories of $100 million apartments in New York City make one wonder where the world is going, the 19th century certainly had its own 1%, and quite a 1% it was. The elegant home of banker Salomon de Rothschild is located in the middle of the fashionable 8th arrondissement, close to the Champs Elysées. It was built in the 1870’s, not long after the Paris Commune, a revolutionary uprising with socialist goals.

The building and grounds have been in the hands of the French state since 1922. The mansion now houses the Centre National de la Photographie and other cultural entities, and it can be rented for private events. The graceful garden is open year-round to the public.

How much would such a residence be worth today? Could a Master of the Universe afford one? We certainly don’t see hedge fund founders building homes on Fifth Avenue any more.

Rothschild.jpgRothschild Overhead.jpg

Addendum: French President Paul Doumer was assassinated in the Rothschild mansion’s garden on May 6, 1932.

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