Bud Konheim, co-founder and CEO of the Nicole Miller fashion line, which sells $800 dresses and $250 purses, recently lectured low income people in America, even though the billionaire has lived his entire life in wealth.
“We had a 23-room house on a few acres of land in the suburbs on the south shore of Long Island,” Konheim told the BocaBeacon.com. “... I went home from school one day and asked my parents why we didn’t have a Cadillac. The looks on their faces! What would people think? We had three cars and a chauffeur, but the cars were Plymouths. A Cadillac was too much.”
Konheim's mother had founded a women’s clothing company in 1955, but when his mother retired in 1975, Konheim took over, after working for his dad's company.
In 1975, Konheim hired a designer named Nicole Miller. In 1982, he and Miller began the Nicole Miller fashion company.
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In 2010, Harper's Magazine quoted a 2008 article from The New York Times in which Konheim lamented that he'd exploited all the foreign countries he could for cheap labor.
“As far as bottom costs go, we’re there,” said Konheim. “I think we’ve exploited all the countries on earth for people who really want to work for nothing.”
During an interview with CNBC’s “Squawk Box” this week, Konheim slammed 99 percent of Americans (video below).
“We’ve got a country that the poverty level is wealth in 99 percent of the rest of the world,” said Konheim. “We’re talking about woe is me, woe is us, woe is this.”
“Here it is, money is all over the place, and the guy who’s making, oh my god, he’s making $35,000 a year, why don’t you try that out in India or some countries we can’t even name, or China, any place, the guy is wealthy,” Konheim added.
Oddly, Konheim failed to mention that the cost of living in the U.S. is higher than in poor areas of India and China.