The total wealth of billionaires increased by 121% from 2015-24.
Driven largely by the accumulation of massive wealth by the richest people in the United States, the Swiss wealth manager UBS said Thursday the assets of billionaires around the world more than doubled over the past decade.
Between 2015-24, the total wealth of billionaires increased by 121%, from $6.3 trillion to $14 trillion.
Meanwhile, the MSCI AC World Index of global equities, which measures the performance of more than 3,000 stocks from both developed and emerging markets, rose by 73%.
The planet’s total gross domestic product is about $105.4 trillion, with a population of just over 8 billion, underscoring the extreme concentration of wealth among the very richest people.
The number of billionaires rose from 1,757 to 2,682 over the past decade, while the wealthiest people in the world boasted significant gains over just the past year.
Billionaires’ wealth jumped by about 17% in 2024, with the accumulation of wealth among the richest people in the U.S. offsetting a decline in China.
U.S. billionaires amassed […]
This is an extremely important data point. Do not take the Democrats off the hook. The some Democrats have colluded with Republicans on this issue over decades. This phenomena is the result of having a non-representative political system. The vast majority of the public has zero responsibility for this outcome. This is the result of a corrupt system which values wealth and access above all else. Don’t like this outcome? Then you have to change the structure. Think outside the box.