DAILYKENN.com -- Without adjusting for inflation, Amazon's Jeff Bezos has been cited as the wealthiest human ever with an estimated worth topping $100-billion.
The provides Bezos with more money than ever to redistribute to the destitute and fund sanctuary shelters for illegal aliens while dumping cash into super pacs to underwrite political campaigns of Trumpophobic extremists.
From theguardian.com ▼
The increase in Bezos’s wealth is a result of a surge in the value of Amazon shares – fuelled by a stock market rally that owes much to Trump’s corporate tax cuts, which came into force at the start of the year. Bezos owns 16% of Amazon, which has risen in value by more than 50% since the president’s inauguration a year ago – an ironic situation given that Bezos also owns the Washington Post, a paper that has been a source of almost constant irritation for the US president, which he refers to as a factory of fake news.
Nevertheless Bezos – born into a middle-class family in Albuquerque, New Mexico, in 1964 and who launched Amazon in 1994 selling books from his garage in Seattle – is now number one on the rich list ahead of Gates and the investor Warren Buffett.
After taking inflation into account, the $100bn fortune belonging to Bill Gates would have been worth almost $150bn in today’s money.
The Microsoft founder might also have been worth more than Bezos today if he hadn’t given away almost $36bn through the charitable foundation he runs with his wife, Melinda.
Measured against the total wealth in the US at the time the dotcom bubble burst Gates was much richer than Bezos. According to Credit Suisse, total wealth in the world’s largest economy has more than doubled to $93.5tn since the year 2000.
Billionaires have been getting richer in recent years, at a time of growing concerns over inequality in developed nations. The world’s super-rich have been estimated to now own the greatest concentration of wealth since the US Gilded Age at the turn of the 20th century, when industrialists such as Rockefeller and Carnegie grew rich beyond imagination. That period came to an end with the Wall Street crash of 1929 and the subsequent Great Depression.
The world’s 500 richest people increased their wealth by $1tn last year, buoyed by huge increases in the value of global shares.
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