Three Americans now control as much wealth as HALF that of America
Who afre the three Americans?
Three people — Bill Gates, Warren Buffett and Jeff Bezos — now control as much wealth as half of America.
Analysis of the wealth of America’s richest people found that Gates, Bezos and Buffett were sitting on a combined $248.5bn (£190bn) fortune. The Institute for Policy Studies said the growing gap between rich and poor had created a “moral crisis” in USA and the world at large. In a report, the Billionaire Bonanza, the thinktank said Donald Trump’s tax change proposals would “exacerbate existing wealth disparities” as 80% of tax benefits would end up going to the wealthiest 1% of households.
“Wealth inequality is on the rise,” said Chuck Collins, an economist and co-author of the report.
“Now is the time for actions that reduce inequality, not tax cuts for the very wealthy.”
Forbes magazine’s list of the 400 richest people in the US were worth a combined $2.68tn – more than the gross domestic product (GDP) of the UK.
Who is Jeff Bezos, the richest man in the world?
Jeff Bezos is the founder and Chief Executive Officer of Amazon.com, one of the pillars of Internet e-commerce and one of the most valued companies in the world.
Who is Bill Gates?
Bill Gates is the co-founder of the software company Microsoft and is one of the world's wealthiest men. Gates and Paul Allen founded Microsoft in the 1970s.
Who is Warren Buffett?
Warren Buffett has turned value investing into an art form, piling up the world's second and now third largest individual fortune and persuading millions to mimic the low-tech, buy-and-hold style of stock picking he practices at Berkshire Hathaway."
—Time
"Buffett and Munger are, without doubt, two of the greatest investors and capital allocators of all time, so investors would be well served to study their thinking carefully."
—The Motley Fool
"Warren Buffett - Ace stockpicker, and now, an empire-builder."
—BusinessWeek
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