> billionaires have benefited massively from the Trump tax cuts, with the U.S.’s 806 billionaires’ collective wealth hitting an all-time high this month of $5.8

> billionaires have benefited massively from the Trump tax cuts, with the U.S.’s 806 billionaires’ collective wealth hitting an all-time high this month of $5.8 trillion. This is double the amount of wealth they controlled in 2017, the year the bill was passed The S&P 500 was at 2300 at the start of 2017, and 4800 at the start of 2024. If billionaires' wealth doubled, it was mostly due to equities (and other assets like real estate) doubling, not due to tax cuts, as this passage implies.