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Tuesday 31 December 2019

Private jets and trillion-dollar windfalls: Why 2019 was a great year to be rich


<p>The world&#x2019;s 500 top billionaires added $1.2 trillion to their net worth, and private jet sales soared. But the working class finally made some gains, too.</p><br /><p>Any year is a good year to be rich, but 2019 was particularly remunerative. All told, the 500 masters of the universe topping the Bloomberg Billionaires Index gained $1.2 trillion in net worth&#xA0;in the past year&#x2014;a remarkable 25% gain. To put that figure in perspective, $1.2 trillion is about the same as the entire gross domestic product of Mexico. Their total net worth&#x2014;now $5.9 trillion&#x2014;exceeds the GDP of every country in the world, except for the United States and China.&#xA0;In September, the US government reported that income inequality in the country had hit the highest level since the Census Bureau began tracking it more than five decades ago.</p><p>Read Full Story</p><div class="feedflare"><br /> <br /></div>

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