The 500 richest people in the world got $237 billion richer in 2016 - Alan Pyke

Billionaire Bill Gates and World Bank head Jim Yong Kim at the 2016 edition of the hyper-elite World Economic Forum in Davos, Switzerland. CREDIT: AP Photo/Michel Euler

As right-wing politicians around the world gathered power by scapegoating immigrants for the economic struggles of working people, the world’s richest people got nearly a quarter trillion dollars richer in 2016.

The 500 wealthiest individuals on a planet of roughly 8 billion humans gained $237 billion in personal net worth over the year, according to Bloomberg.

Those massive investment gains followed similarly massive convulsions — a natural byproduct of beginning the investing year with incredible wealth. The same microfraction of the species was almost $400 billion in the hole by Valentine’s Day, then up more than $300 billion in the months before Donald Trump beat Hillary Clinton in November’s election, before slumping to the mere $237,000,000,000 net gain by year’s end, Bloomberg reports.

The poorest 2.4 billion adults worldwide have an average wealth of under a thousand bucks, and a combined net worth of 2.36 trillion. The 500 people on Bloomberg’s list ended the year with close to double that between them: $4.4 trillion.  SEE MORE

Views: 30

Add a Comment

You need to be a member of NatCAN to add comments!

Join NatCAN

Other ways to keep in touch:

© 2017   Created by Freire Institute.   Powered by

Badges  |  Report an Issue  |  Terms of Service