4 ms·
The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion —at a rate of $15,000 per second or $1.3 billion a day— during t
by nus07 4y ago
The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion —at a rate of $15,000 per second or $1.3 billion a day— during the first two years of a pandemic that has seen the incomes of 99 percent of humanity fall and over 160 million more people forced into poverty.
While inflation hurts we need some of these crazy money and valuations to come down to realistic levels . I don’t want Elon Musk to become the next Rupert Murdoch.
- Rebelgecko 4y ago>seen the incomes of 99 percent of humanity fall Do you have any info on this? Most people I know have similar or higher incomes compared to 2019, but maybe that's just the bubble I'm in.
- mint2 4y agoAdjusted for inflation?
- Rebelgecko 4y agoIt seems misleading to adjust those #s for inflation if the size of the stock market recovery after the COVID crash isn't also adjusted for inflation.
- margalabargala 4y agoThe person you replied did do that, though. The stock market was never part of it. The person you originally replied mentioned two things. The top 10 richest people became richer, from $700 billion to $1.5 trillion. This is an increase, even after inflation. Most of the world's population had their real income decrease, as any gains they tended to get were mostly less than inflation. Both of these things are true.
- deleted 4y ago[deleted]
- mint2 4y agoWhat about comparing wages in 1960 to wages in 1990 without adjusting for inflation?
- ericmcer 4y agoYeh Elon is buying up all the milk that’s why it’s $6 for a gallon now. Billionaires are bad because they have way too much power and influence over our democracy but their wealth doesn’t actually reflect some hoard of basic goods that we could be giving to poor people. If we decided to strip Bezos of all his money and use it to give everyone $200 of groceries it would just mean barren store shelves for a couple weeks.
- rr808 4y ago> The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion Well those tech billionaires have lost more than those gains by now. Are you happy now?