Fifteen years ago, the world’s billionaires collectively had $4.5 trillion.
By 2024, their wealth had more than tripled to $14.2 trillion.
Now, their combined wealth totals $20.1 trillion — an amount that is equivalent to nearly a fifth of the entire world’s total yearly output.
The stunning figures — calculated by the French economist Gabriel Zucman, director of the International Tax Observatory, a research organization funded by the European Union — reveal more than a surprisingly rapid increase in the concentration of wealth at the tippy top.
They also reflect a series of important global trends: the growing dominance of a few technology companies leading artificial intelligence development; the shrinking slice of the economic pie that goes to workers; and a deepening inequality that will be handed down to the next generation.
Do a trillion too
Yes this is how compounding interest and inflation works. We need to tax billionaires into extinction. Then break up then monopolies. Then we eat anybody on the Epstein list.
