Billionaire wealth doubles since financial crisis

[Redfairen]

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.

.......

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]

1. I'm not surprised

Too Big to Fail--- has gone on steroids

[ErikJ]

2. And 90% of it will end up in tax haven banks, wasted.

[Scuba]

3. Yet some argue we need another corporate Dem in the White House.

[Ace Acme]

9. Because corporations make our jobs and provide our food and cause the sun to shine.

[flamingdem]

4. Shyte

Wish I wuz a billionaire drat

[lastlib]

5. more proof that taxes aren't high enough....

Jus' sayin'............

[devils chaplain]

6. Awesome! They've earned it... lets celebrate by giving less food to little poor kids. n/t

[pscot]

7. Mine's been cut in half

so it all evens out.

[raging moderate]

8. You took too much of the profit, preppies. Give some of it back!

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]

10. So if we took the money from these people, everybody in the world: Man, Woman, Children...

...would have over a thousand dollars each.

[Wilms]

11. ^

[JoePhilly]

12. I'm pretty sure that if you have a 401k, and you did almost nothing with it ... its doubled since

then too.

Of course in 2009, it was probably about half of what it was in 2007.

[olddad56]

17. it would have had to double to get back to where it was.

[JoePhilly]

18. Which makes the article's griping about how well Billionaires did between

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]

13. Billionaire wealth doubles since financial crisis ..

That was the plan, yes?

[Comrade Grumpy]

14. Just shoot them all and divide their assets evenly.

[FiveGoodMen]

15. An attractive idea.

[Blue_Tires]

16. kick

[woo me with science]

19. Hope and change. Hope and change. nt