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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe World's Wealthiest Family Gets $4 Million Richer Every Hour
The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day. Thats how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last years Bloomberg ranking of the worlds richest families.
At that rate, their wealth wouldve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. wouldve made about 6 cents in that time, on the way to an $11 hourly minimum.
The Walton fortune has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the worlds richest families.
Other American dynasties are close behind in terms of the assets theyve accrued. The Mars family, of candy fame, added $37 billion, bringing its fortune to $127 billion. The Kochs, the industrialists-cum-political-power-players, tacked on $26 billion, to $125 billion.
https://www.bloomberg.com/features/richest-families-in-the-world/?srnd=premium
Kid Berwyn
(14,907 posts)Medicaid?
Yavin4
(35,441 posts)That's the source of their wealth.
The rich have convinced Americans to devalue labor. Because these employees don't have expensive degrees or can program computers, they don't deserve a middle class wage because their jobs are considered "routine". And therein lies the problem. The value of the labor is evident in the wealth that it creates, not the daily task.
Look at it this way. A professional athlete's tasks are routine as well, but because these players have unions, they get their fair share of the value that they create.
Yo_Mama_Been_Loggin
(108,009 posts)zackymilly
(2,375 posts)Their income from one day can buy the land, build a Walmart and stock it.