Part 4/9:
According to Oxfam’s annual inequality report, five of the world’s wealthiest individuals are on track to become trillionaires within the next decade. Elon Musk leads this charge, followed by Jeff Bezos, Larry Ellison, Mark Zuckerberg, and Bernard Arnault. But how do individuals accumulate such immense wealth? The categories breaking down billionaire wealth accumulation reveal concerning trends: inherited wealth, monopolistic power, and exploitative systems.
- Inheritance: More billionaires today inherit their fortunes than create them through innovation or labor. Significantly, all billionaires under 30 years of age were born into riches, which perpetuates a cycle where wealth can be passed on tax-free, ensuring that financial power remains concentrated within elite families.