The four richest people in the world are collectively worth $500 billion. Their combined net worth has risen by 600% in the past decade.pic.twitter.com/a3FbmfplsG
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2010 world's richest, top 4 & current wealth: 1. Carlos Slim: 2010 - $53.5B, 2020 - $51.7B 2. Bill Gates: 2010 - $53B, 2020 - $114.7B. 3. Warren Buffett: 2010 - $47B, 2020 - $80.5B 4. Mukesh Ambani: 2010 - $29B, 2020 - $85.1B
If so then the wealth of the 4 richest men in 2010 has grown 82% in the last decade. Which is less than an index fund would have returned; the DJIA grew 144% over the same period.
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The conversation is wrongly preoccupied on other people's wealth when it should be on government ability to yield efficient economic return on capital. Those (& others) wealth comes from investing & reinvesting in sectors & drive innovation; something we can't expect from a gov.
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That’s not what the conversation is about
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Is that to say that the market as a whole is growing faster than the individuals at the top? This seems like a potentially good thing in terms of wealth distribution
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You’re looking at change in total wealth of these 4 but only Sim’s wealth non-growth is the outlier; wealth of Gates, Buffett and Ambani grew 115%, 72%, 193% respectively, so the argument can be made to have invested in tech or emerging markets (NASDAQ grew 180% in the same time)
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Gates and Buffett also gave a lot of money away
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Thanks Obama right?
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It’s almost as if they don’t need to keep growing wealth
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Hasn’t philanthropy played a big role is both Warren and Gates in the last decade? Returns not the right measure with out factoring in gifting.
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Good point, I forgot about that.
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