In 1985, the richest person had a net worth of $6.16 billion, inflation adjusted. Now its $79 bn

[AZ Progressive]

And the richest person today has a net worth greater than twice the amount of what the top 10 richest people in the world had in 1985 combined!

Why couldn't the rich be content with the amount of money they had 20 years ago? Why do they have to hoard it rather than spread the benefits in the form of higher wages, lower prices, and paying their fair share of taxes?

Imagine how prosperous would America as a whole be if the rich were content with the amount of money they had instead of being greedy hoarders. Why isn't $1,000,000,000 ($1 billion) enough for them?

Anyway, just look at this Forbes 400 list in 1985, and the one in 2015:


1985

Walton, Sam Moore, 67, Bentonville, Ark., Wal-Mart stores, $2.8 billion ($6.16 billion in 2015 money)

Perot, Henry Ross, 55, Dallas, electronic data management, $1.8 billion ($3.96 billion in 2015 money)

Packard, David, 73, Los Altos Hills, Calif., Hewlett-Packard, $1.5 billion ($3.3 billion in 2015 money)

Hill, Margaret Hunt, 70, Dallas, inheritance (oil), $1.4 billion ($3.08 billion in 2015 money)

Schoellkopf, Caroline Rose Hunt, 62, Dallas, inheritance (oil) and real estate, $1.3 billion ($2.86 billion in 2015 money)

Newhouse, Samuel Irving Jr., 57, New York City, publishing, $1.1 billion ($2.42 billion in 2015 money)

Newhouse, Donald Edward, 56, New York City, publishing; $1.1 billion ($2.42 billion in 2015 money)

Rockefeller, David, 70, New York City and Tarrytown, N.Y., inheritance, banking and real estate, $1 billion ($2.2 billion in 2015 money)

Hillman, Henry Lea, 66, Pittsburgh, industrialist, $1 billion ($2.2 billion in 2015 money)

Kluge, John Werner, 71, Charlottesville, Va., and New York City area, Metromedia, $1 billion ($2.2 billion in 2015 money)

Full list: http://newsok.com/top-100-richest-americans-listed-by-forbes-magazine/article/2124435

Source of inflation adjusted dollars: CPI Calculator from bls.gov



2015, as of 5/26/15:

1. Bill Gates: $79.4 billion

2. Warren Buffet: $70.5 billion

3. Larry Ellison: $53.5 billion

4. Charles Koch: $42.7 billion

5. David Koch: $42.7 billion

6. Jeff Bezos: $38.5 billion

7. Christy Walton: $37.4 billion

8. Michael Bloomberg: $37.2 billion

9. Jim Walton: $36.2 billion

10. Alice Walton: $35.1 billion

Source: http://www.forbes.com/forbes-400/list/#tab



1985 net worth of the top 10 richest people combined: $30.8 billion in 2015 money

2015 net worth of the top 10 richest people combined: $473.2 billion


Note: Warren Buffet in 1985 was listed at #13 at $2.2 billion (inflation adjusted), now his net worth is $70.5 billion

[moondust]

1. GOP: Mission Accomplished!

[merrily]

2. Know what else happened in 1985? The DLC incorporated.

I think there is very much a relationship between Democrats deciding to be more like Republicans and the increasing wealth and income gaps.

And, the issue was Presidential elections. Meanwhile, look what happened to Congress.

[rhett o rick]

3. Wealth inequality is what will kill what's left of our democracy and Sen Sanders is the only

candidate willing to take that on.