The World's Wealthiest Family Gets $4 Million Richer Every Hour
( Yea, that is totally fair. The job creators. lol )
The 25 wealthiest dynasties on the planet control $1.4 trillion
August 10, 2019
The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day.
Thats how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last years Bloomberg ranking of the worlds richest families.
At that rate, their wealth wouldve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. wouldve made about 6 cents in that time, on the way to an $11 hourly minimum.
Even in this era of extreme wealth and brutal inequality, the contrast is jarring. The heirs of Sam Walton, Walmarts notoriously frugal founder, are amassing wealth on a near-unprecedented scale and theyre hardly alone.
The Walton fortune has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the worlds richest families.
Other American dynasties are close behind in terms of the assets theyve accrued. The Mars family, of candy fame, added $37 billion, bringing its fortune to $127 billion. The Kochs, the industrialists-cum-political-power-players, tacked on $26 billion, to $125 billion.
So it goes around the globe. Americas richest 0.1% today control more wealth than at any time since 1929, but their counterparts in Asia and Europe are gaining too. Worldwide, the 25 richest families now control almost $1.4 trillion in wealth, up 24% from last year.
https://www.bloomberg.com/features/richest-families-in-the-world/