What is a robber baron?

Robber baron is a term first applied as social criticism by 19th century muckrakers and others to certain wealthy, powerful, and unethical 19th-century American businessmen. The term appeared in that use as early as the August 1870 issue of The Atlantic Monthly magazine.

Are PBMs a robber baron?

They produce some of the same anti-consumer, anti-small business, anti-competition results as the robber barons from more than a century ago. For many years, the FTC has allowed PBMs to grow bigger and exert their market leverage to the benefit of Wall Street shareholders and at the expense of small businesses and consumers.

Who are the top robber barons in the world?

The list is headed by those grizzled old robber barons, John D Rockefeller, Andrew Carnegie and Cornelius Vanderbilt, with $336bn, $309bn and $185bn respectively.