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Tue Aug 13, 2019, 07:48 PM

The World's Wealthiest Family Gets $4 Million Richer Every Hour

( Yea, that is totally fair. The job creators. lol )

The 25 wealthiest dynasties on the planet control $1.4 trillion
August 10, 2019

The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day.

That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last year’s Bloomberg ranking of the world’s richest families.

At that rate, their wealth would’ve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.

Even in this era of extreme wealth and brutal inequality, the contrast is jarring. The heirs of Sam Walton, Walmart’s notoriously frugal founder, are amassing wealth on a near-unprecedented scale — and they’re hardly alone.

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.


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Reply The World's Wealthiest Family Gets $4 Million Richer Every Hour (Original post)
BeckyDem Tuesday OP
Newest Reality Tuesday #1

Response to BeckyDem (Original post)

Tue Aug 13, 2019, 08:11 PM

1. It is rather interesting

that this system relies on the rights to private property, but in a few decades, it looks like those of us not in a certain narrow percentile won't have any at all worth mentioning. Oh, you may still have the rather worthless shiny things that you are allowed.

We are entering an age of corporate Neo-Feudalism where most humans will be serfs--another form of property. That solves the class problem because there will only be one. I mean, people own cattle and cows don't get their own class, do they?

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