The Billionaire's Park

Can billionaires remake the Manhattan shoreline? Apparently so, in light of the news that a new park will be just offshore in the Hudson River, largely financed by the media mogul Barry Diller and situated, conveniently, a short walk from his office in Chelsea.

The new park will also be near the High Line, allowing for an easy tour of how private wealth is remaking the city’s public spaces. This trend isn’t unique to New York: Philanthropists are also busy reshaping the riverfront of Philadelphia and building a green corridor through Houston. In Tulsa, Okla., a vast new park system is being financed in part by the billionaire George B. Kaiser.

While it’s hard to argue with more parks, or the generosity of donors like Mr. Diller, this isn’t just about new patches of green. It’s more evidence of how a hollowed-out public sector is losing its critical role, and how private wealth is taking the wheel and having a growing say over basic parts of American life.

Read the full article in the New York Times