The World’s Five Wealthiest Families Control $735 Billion
CAPITALISM, 2 Nov 2020
Extreme income inequality has become an “explosive issue” in most contemporary societies.
5 Richest Families in the World:
- Walton US$215 billion
- Mars US$120 billion
- Koch US$110 billion
- Al Saud US$ 95 billion
- Ambani US$ 81 billion
5 Richest Persons in the World:
- Jeff Bezos US$189 billion
- Bernard Arnault US$119 billion
- Bill Gates US$115 billion
- Mark Zuckerberg US$102 billion
- Elon Musk US$93 billion
TOTAL: US$ 1,239 trillion
27 Oct 2020 – The New Zealand company Buy Shares published today a study holding that the world’s five richest families control an accumulated fortune of US$735 billion.
The study placed the Walton family, which owns Walmart, at the top of its list with a fortune of US$215 billion. They are followed by the Mars family, which owns US$120 billion thanks to its food empire, and the Koch family which reaches third place with US$110 billion.
Behind them are the Al Saud family, whose large oil reserves have generated a fortune of USD95 billion, and India’s Ambani, from the Reliance conglomerate, with US$81 billion.
Buy Shares recalled that when the focus is placed on the world’s richest, “the growing inequalities” suffered by most of the “great global economies” are also detected.
The #IMF projects that the pandemic “will reverse the progress made since the 1990s in reducing global poverty and will increase inequality.” The pandemic is accelerating processes that were already underway. https://t.co/IplBsMra4s
— Erik Schreiber (@ErikSchreiber5) October 14, 2020
“Inequalities exist because there are regimes that allow market domination and low taxation of capital, especially in the United States,” Buy Shares recalled, commenting that extreme income inequality shows that it is necessary to fix capitalism since, in “some jurisdictions”, this issue has become an “explosive political issue”.
This analysis also confirmed Jeff Bezos, founder of Amazon, as the richest person in the world, with a fortune of US$189 billion, followed by the Frenchman Bernard Arnault, who is the president of the conglomerate of luxury brands LVMH, with US$119 billion.
On the list of the richest people are also Bill Gates (US$115 billion), Facebook founder Mark Zuckerberg (US$102 billion), and Tesla adviser Elon Musk (US$93 billion).
Tags: Anglo America, Banksters, Big Banks, COVID-19, Capitalism, Casino Capitalism, Catastrophe Capitalism, Coronavirus, Corruption, Disaster Capitalism, Elites, Finance, Greed, Inequality, Mafia, Organized crime, Pandemic, Post-capitalism, Predatory Capitalism, Profits, Super rich, USA, Wall Street, West, World Order
DISCLAIMER: The statements, views and opinions expressed in pieces republished here are solely those of the authors and do not necessarily represent those of TMS. In accordance with title 17 U.S.C. section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. TMS has no affiliation whatsoever with the originator of this article nor is TMS endorsed or sponsored by the originator. “GO TO ORIGINAL” links are provided as a convenience to our readers and allow for verification of authenticity. However, as originating pages are often updated by their originating host sites, the versions posted may not match the versions our readers view when clicking the “GO TO ORIGINAL” links. This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
Join the discussion!
We welcome debate and dissent, but personal — ad hominem — attacks (on authors, other users or any individual), abuse and defamatory language will not be tolerated. Nor will we tolerate attempts to deliberately disrupt discussions. We aim to maintain an inviting space to focus on intelligent interactions and debates.
Click here to go to the current weekly digest or pick another article: