The five hundred richest inhabitants of the planet saw their combined assets increase by 1.07 trillion (1070 billion) euros in 2019. According to figures from the Bloomberg Billionaire Index, this group of super rich now has around 5.5 trillion euros in assets.
The billionaires more than make up for their loss last year. At that time, they lost around 400 billion euros as a result of falling stock prices.
The French billionaire Bernard Arnault is the biggest riser. The founder and chairman of the board of luxury goods company Louis Vuitton Moët Hennesy received 32.6 billion euros this year and is now third on the global list of richest people. The list is led by Amazon boss Jeff Bezos and former Microsoft CEO Bill Gates. 52 out of 500 super-richs saw their assets fall this year.
In the United States, the share of the wealthiest in the country’s total wealth has been the highest since 1929. That is the year the world economy collapsed as a result of the stock market crash on the New York stock exchange. Progressive politicians in the US and elsewhere in the world are arguing for radical economic reforms due to the imbalance in property relationships, for example through higher taxes on wealth.