In that case they’d on average have 100B each, doesn’t sound like “new billionaires” to me. Either way, I’m sure these 142 people work harder/have more influence combined than all but two entire countries in this world. /s
Wealth and GDP are measuring different things, even though both are measured in dollars. It’s a bit of a weird comparison for that reason, but still shows ridiculous levels of inequality.
Wealth is how much money you have right now. GDP is how much value the country generates in a given year.
So wealth is kinda like how much you have in the bank, while GDP is closer to how much money is changing hands in a country over a given year. There’s a common joke about GDP - if two people paid each other $100 to eat a pile of shit, GDP went up $200 even though no real value was generated. In this example, neither of their wealth changed.
Wait just so I understand this correctly: these 142 people combined are wealthier than all but two countries on this planet? that’s insane
In that case they’d on average have 100B each, doesn’t sound like “new billionaires” to me. Either way, I’m sure these 142 people work harder/have more influence combined than all but two entire countries in this world. /s
Wealth and GDP are measuring different things, even though both are measured in dollars. It’s a bit of a weird comparison for that reason, but still shows ridiculous levels of inequality.
Wealth is how much money you have right now. GDP is how much value the country generates in a given year.
So wealth is kinda like how much you have in the bank, while GDP is closer to how much money is changing hands in a country over a given year. There’s a common joke about GDP - if two people paid each other $100 to eat a pile of shit, GDP went up $200 even though no real value was generated. In this example, neither of their wealth changed.
I misunderstood 😅