š“ 19 American families became richer by $1 trillion ā more than the GDP of Switzerland š°
ā In 2024, the wealth of the 19 richest families in the USA increased by $1 trillion, surpassing the entire GDP of Switzerland. This is a record annual increase in wealth for all time, reports WSJ, citing a study by economist Gabriel Zuckman.
š The numbers speak for themselves:
⢠Total wealth ā $2.6 trillion (1.8% of all wealth in the USA)
⢠In 1982, there were 11 such families, and they owned only 0.1%
⢠In 2024, there are already 2000 billionaires in the USA ā +45% over 3 years
š Reason for growth: ā The stock market has had the two best years in the last 25 years
ā The assets of the super-rich are over 90% tied to stocks
ā But: high volatility = billions can disappear in a day
š¬ Among the names: Musk, Bezos, Zuckerberg, Gates, Buffett, and Schwarzman ā symbols of a new era of capital concentration.
āļø Questions to the system: ā The top 1% owns 34.8% of the wealth in the USA
ā The bottom half of the population owns only 3%
ā Zuckman's research has already formed the basis for the ideas of Bernie Sanders and Elizabeth Warren about taxes on the super-rich
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