"Morbidly Wealthy": The world’s five richest men have more than doubled their fortunes from $405b to $869b since 2020—at a rate of $14m/hr—while nearly five billion people have been made poorer
"Morbidly Wealthy": The world’s five richest men have more than doubled their fortunes from $405b to $869b since 2020—at a rate of $14m/hr—while nearly five billion people have been made poorer
Source: Oxfam
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Ah the yearly Oxfam cherry picked data. For this one, they say "since 2020" but really this is "since Mars 2020 when the stock market was crashing and hitting incredible lows", which helps inflate their click-baity figures.
Musk’s wealth went up in 2020. So did several other billionaires. The ultra wealthy don’t obey the same rules you and I do, and they’re still making billions when the world is shit.
Doesn't change anything to Oxfam doing cherry picking.
Yeah, I feel bad for those billionaires, too. You know what, I think they deserve a tax break.
In totally unrelated news, can you believe those left wing communists want paid maternity and paternity leave. That's going to cost $12 billion annually.. have they not seen the national debt?! It's all just an excuse because no one wants to work anymore.
Get off your soap box, I just pointed out that Oxfam numbers are manipulated.
Since March 2022? The start of the Financial Year Boundary month of march? That march? I wonder why they chose such a random month.
/s
You mean the two month stock market dip which has since not only recovered but the market following has heavily outperformed anything before 2020 and was fully abused by those in power who used their insider information on the COVID pandemic to trade just before the dip hit the markets? That stock market crash? I mean, I bet. Those 2 months are totally going to skew the numbers.
Those two months do skew the numbers. Why do you think they specifically picked March and not January as anybody else would?
You can defend your opinions without having to manipulate the numbers.
How do the numbers change if you start with January?
If I did my napkin math right (which is suspect) from January 2020 to December 2023 the Dow Jones had an ~33% increase.
so what you’re saying is that when the stock market is crashing and hitting incredible lows, us plebs lose money and the rich lose significant less? make a profit?
that just points to a different and related problem that still supports oxfams conclusion
if everyone lost money at the same rate, we’d all be worse off… the problem is the wealth gap got larger; not that everyone lost money