Public perception has increasingly shifted out of billionaires' favor amid growing income inequality.
Depending on where you live and how you made your fortune, 2019 was either a very good year to be a billionaire — or a very bad one.
Ultra-wealthy people seeking public office is a phenomenon as old as the country itself; one of the richest presidents in American history before Trump was George Washington, Business Insider previously reported. Washington's fortune at the time of his presidency was worth the equivalent of $525 million in 2017 dollars, compared to Trump's $3 billion net worth today.4. Public perception has increasingly shifted out of billionaires' favor.Presidential candidate and Massachusetts Sen.
These calls for a tax on the ultra-wealthy come as the divide between America's rich and poor continues to expand. In 2018, income inequality in the US reached its highest level in more than half a century. The ultra-wealthy actually paid a smaller portion of their income in taxes than average Americans in 2018, an analysis of tax data by the University of California at Berkeley's Emmanuel Saez and Gabriel Zucman found.
Months of mass protests and civil unrest wiped $15 billion off the net worths of Hong Kong's 10 richest people between July and August. The two members of the Kwok family, Hong Kong's richest family and the owners of the city's largest real-estate developer, saw their net worths drop over a billion dollars each.
Bezos became one of the richest women in the world after her divorce from Amazon CEO Jeff Bezos was finalized in July, Business Insider previously reported. Bezos retained 25% of the couple's Amazon shares after the split, giving her a net worth of $35.8 billion, Bloomberg estimates.
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