- cross-posted to:
- collapse@sopuli.xyz
- cross-posted to:
- collapse@sopuli.xyz
Just eight billionaires accounted for a quarter of the gains, led by Elon Musk, Jeff Bezos, Larry Ellison and Larry Page
The richest 500 individuals in the world added a record $2.2tn to their wealth in 2025, according to the Bloomberg Billionaires Index, with just eight billionaires accounting for a quarter of the gains.
The gains increased their collective net worth to $11.9tn, bolstered by billionaire Donald Trump’s 2024 election victory and booming markets in cryptocurrencies, equities and metals.
Around a quarter of the gains were attributed to eight billionaires, including Elon Musk, Jeff Bezos, Oracle chair Larry Ellison and Alphabet Inc co-founder Larry Page, though 2024 saw more concentrated net worth gains with the same eight billionaires making up 43% of total net worth gains for the wealthiest 500 individuals in the world.
Singapore has low taxes and high public spending, due to the government owning significant shares in all the major companies there. Public services are funded from the dividends. There’s the added bonus that the government have people on the Board of Directors to prevent any anti-consumer or anti-competitive corporate shenanigans before they start, rather than having to challenge it in court later on.
The US or UK occasionally buy shares in companies to bail them out, but always flake out a few years later and sell them for a quick pre-election cash injection.
yeah i’m actually a big fan of state-run companies, such as schools and medical facilities and transport companies (they are companies too, think about it. just not for-profit companies, but public-benefit companies). i’m even thinking it maybe could be extended a little further to make maybe 30% of the apartments in a city city-owned.