Saturday, August 10, 2019

25 Richest Families

A new analysis of the top 25 wealthiest family dynasties revealed that while one out of ten people in the world live on less than $2.00 per day, these super rich families now control a total of $1.4 trillion in assets and are making as much as $4 million every single hour. In all, the world’s 25 richest families have $250 billion more wealth, compared to last year.

The Walton fortune has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families. The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last year’s Bloomberg ranking of the world’s richest families. At that rate, their wealth would’ve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.

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.

America’s richest 0.1% today control more wealth than at any time since 1929. Their counterparts in Asia and Europe are gaining too.  In India, the fortune of the Ambani family swelled $7 billion, to $50 billion.

See the list here

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