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Do you think Portugal really has a lot of ultra-rich people sitting around to fleece?
by justrealist 3y ago
Do you think Portugal really has a lot of ultra-rich people sitting around to fleece?
- palata 3y agoDo you think nobody is rich in Portugal?
- justrealist 3y agoThe combined net worth of all billionaires in Portugal[1] is about 10% of annual government spending [2]. So to within a rounding error, no, it's a poor country full of poor people with an irrelevant number of billionaires. You could destroy all foreign investment and future growth by confiscating literally all of their wealth for 1 year of modestly higher government spending. [1] https://profilbaru.com/article/List_of_Portuguese_by_net_worth https://profilbaru.com/article/List_of_Portuguese_by_net_wor..., ignoring people who nominal "citizens" but live and hold money elsewhere. [2] https://www.statista.com/statistics/275337/government-revenue-and-spending-in-portugal/#:~:text=In%202022%2C%20the%20government%20revenue,to%20around%20109.43%20billion%20euros https://www.statista.com/statistics/275337/government-revenu....