Wednesday, August 21, 2019
Bloomberg, The World’s Wealthiest Family Gets $4 Million Richer Every Hour:
The Walton fortune has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families.
Other American dynasties are close behind in terms of the assets they’ve accrued. The Mars family, of candy fame, added $37 billion, bringing its fortune to $127 billion. The Kochs, the industrialists-cum-political-power-players, tacked on $26 billion, to $125 billion.
So it goes around the globe. America’s richest 0.1% today control more wealth than at any time since 1929, but their counterparts in Asia and Europe are gaining too. Worldwide, the 25 richest families now control almost $1.4 trillion in wealth, up 24% from last year.
To some critics, such figures are evidence that capitalism needs fixing. Inequality has become an explosive political issue, from Paris to Seattle to Hong Kong. But how to shrink the growing gap between the rich and the poor?
As the tension increases, even some billionaire heirs are backing steps such as wealth taxes. ...
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