The combined wealth of the 14 richest billionaires exceeds $2 trillion, representing 14% of all billionaire wealth. This disparity raises concerns about income inequality.
Illustrative image | Michiel Le Roux. | Johann Rupert. | Patrice Motsepe. | Nicky Oppenheimer. | Koos Bekker.
One doesn’t necessarily want to imply there is some sort of unfairness going on here, but it is worth pointing out that there is a lot of wealth inequality in the list and, like in the economy in general, the big bucks are concentrated at the top. The 14 people with more than $100-billion are collectively worth over $2- trillion in all. That means,tells us, that just 0.5% of the world’s 2,781 billionaires hold 14% of all billionaire wealth.
Rupert is now head and shoulders richer than the Oppenheimer family, traditionally SA’s richest family — even though they have hardly been laggards. What is interesting is that since the family jettisoned De Beers in 2012 for $5-billion, they have been active and successful investors, but not to the extent you might expect. The family is now worth $9.
I think they do, but they are not so much maps as directional indicators. The rise of entertainers and retailers catering to the very rich, for example, tells us something about the direction of the global economy. You can love it or hate it, depending on your politics, but these trends are ignored at your peril.
Billionaires Wealth Income Inequality Forbes Record
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