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Billionaire Bonanza as Wealth Surges Among One Percent


New study by market research firm Wealth-X found that not only has the number of billionaires grown, so have their fortunes.

There is little doubt that the global one percent is winning. In fact, a new study has found that the number of billionaires reached an all-time high in 2015 at the same time that their portfolios and piggy banks also continued to grow to record proportions.

According to the 2015-2016 Billionaire Census by international market research firm Wealth-X, which bills itself as "the global authority on wealth intelligence," the billionaire population grew by 6.4 percent last year and now totals 2,473 people worldwide. The combined wealth of those individuals also increased by 5.4 percent, amounting to $7.7 trillion—which is more than every country's gross domestic product (GDP), except the United States ($17.9 tr) and China ($11 tr).

Billionaires, defined as individuals with a net worth of $1 billion or above, are not all created equal. While North America trails Europe in the number of billionaires—628 compared with 806, respectively—they hold more wealth ($2,561 bn versus $2,330 bn) than their cross-Atlantic compatriots.

Wealth-X attributes the overall billionaire population growth largely to inherited wealth. According to the report, "billionaires with partially inherited wealth continue to be the fastest growing segment of this population, up 29.9% year on year, while responsible for nearly two thirds of total billionaire additions."

Also, Wealth-X found that fear of a global market collapse has prompted many to liquidate their assets, further shoring up their wealth and adding to the overall rise in combined net worth.


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Harsh Justice inmates are nonviolent victims of our inhumane, racially-biased, various versions of so-called justice.

 

Many have already served decades and will ultimately die in prison for nonviolent petty crimes resulting from poverty and addiction.

Some inmates are innocent but were afraid to go to trial where the deck is often stacked against them and the sentences are tripled on the average.

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Harsh Justice is pleased to announce that 12 of our inmates have gained their freedom since 2016, 11 were serving life without parole sentences.

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