Once more, the Socialism Or Your Money Blog, unapologetically, draws attention to the great wealth gap between the rich and the the rest of us mere mortals.
The richest 500 people on the planet added $1.8 trillion to their combined wealth in 2020, accumulating a total net worth of $7.6 trillion.
Despite the economic reverses caused by the COVID-19 pandemic, the Bloomberg Billionaires Index recorded its largest annual gain in the list's history last year, with a 31% increase in the wealth of the richest people. These 500 richest people in the world amassed as much wealth ($2,000,000,000,000) in 2020 alone as the poorest 165 million Americans have earned in their entire lives.
This concentration of riches has happened while at the same time the United Nations last month warned more than 207 million additional people will fall into extreme poverty in the next decade—bringing the number of people living in extreme poverty to one billion by 2030.