World's witnessing a new Gilded Age as billionaires’ wealth swells to $6tnBreaking News
tags: Gilded Age
The world’s super-rich hold the greatest concentration of wealth since the US Gilded Age at the turn of the 20th century, when families like the Carnegies, Rockefellers and Vanderbilts controlled vast fortunes.
Billionaires increased their combined global wealth by almost a fifth last year to a record $6tn (£4.5tn) – more than twice the GDP of the UK. There are now 1,542 dollar billionaires across the world, after 145 multi-millionaires saw their wealth tick over into nine-zero fortunes last year, according to the UBS / PwC Billionaires report.
Josef Stadler, the lead author of the report and UBS’s head of global ultra high net worth, said his billionaire clients were concerned that growing inequality between rich and poor could lead to a “strike back”.
comments powered by Disqus
- Barbados Declares Republic, Rejects Queen Elizabeth II as Head of State
- Reagan's Go-To Magazine Has Gone Full MAGA – What it Means for Conservatism
- Carrie Meek, Trailblazing Black Congresswoman, Dies at 95
- Louisiana Governor to Decide Posthumous Pardon for Homer Plessy
- Brown Issues Expanded Report on University's Involvement with Slavery
- Isaac Chotiner Interviews Martin Indyk about Henry Kissinger
- Selective Conscience: New Book Dissects Rawls's Theory of Fairness
- "Hail Mary" Sets the Record Straight on the Women's Football League of the 1960s
- Jeopardy! To Host Tournament of Professors
- Tim Snyder: "It Turns Out People Really Like Democracy"