Billionaire wealth doubles since financial crisis
Source: UPI
The financial crisis didn't put a strain on everyone. The number of billionaires in the world has grown to more than 2,000 since 2009, and their aggregate net worth has more than doubled, reaching a record high.
The Wealth X and UBS Billionaire census report revealed a combined wealth of the world's billionaires to be $6.5 trillion, up from $3.1 trillion in 2009.
Eighty-eight percent of so-called "Ultra High Net Worth" individuals -- worth a minimum of $30 million each -- are men, and the average net worth is $139 million, up $1.8 million up from last year, according to the report.
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By 2020, the report estimated the number of billionaires will grow to nearly 4,000 billionaires worldwide.
Read more: http://www.upi.com/blog/2013/11/12/Billionaire-wealth-doubles-since-financial-crisis/5011384268135/?spt=hts&or=12
warrant46
(2,205 posts)Too Big to Fail--- has gone on steroids
ErikJ
(6,335 posts)Scuba
(53,475 posts)Ace Acme
(1,464 posts)flamingdem
(39,308 posts)Wish I wuz a billionaire drat
lastlib
(23,135 posts)Jus' sayin'............
devils chaplain
(602 posts)pscot
(21,024 posts)so it all evens out.
raging moderate
(4,292 posts)This does not need to be a fight. It is not too late for you billionaires to do the right thing. Money grows when it circulates, and it shrinks when it is hoarded. And whatever goes around, comes around.
BlueJazz
(25,348 posts)...would have over a thousand dollars each.
JoePhilly
(27,787 posts)then too.
Of course in 2009, it was probably about half of what it was in 2007.
olddad56
(5,732 posts)JoePhilly
(27,787 posts)2009 and today, much less interesting.
Right? The point of the article is "OMG, Billionaires have doubled their money."
And in reality ... most people with a 401k, if they continued to contribute, did better than double their money. Let's say you were putting $5k into your 401k every year since 2009. For much of that time, you were buying at a discount. So whatever you had in their prior to the collapse, came back, and then anything you put in grew faster.
blkmusclmachine
(16,149 posts)That was the plan, yes?