85 people now own 50% of world's wealth

[practicaldreamer]

1.What sort of businesses, stocks etc. are the 85 involved in? I don't want specific company names just the type of trades.

2.How did they accumulate so much money during a period of bad economic environment?

I'm not sure exactly - its almost impossible to find out who owns what on a modern stock exchange for example, the owners being carefully and deliberately hidden from view via holding companies and so on - but you can guarantee that oil will have played a big part somewhere along the line. Thats my guess anyhow.

[1715031487]

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[1715031487]

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[Adrian-x]

1.What sort of businesses, stocks etc. are the 85 involved in? I don't want specific company names just the type of trades.

2.How did they accumulate so much money during a period of bad economic environment?

I noticed something was up this past year when I read that luxury cars have increased in sales while other industries are struggling. At first I thought is was because of the new millionaires in china but their economy hasn't been good lately.

It has been going on since Feudalism took hold, there was a big shake up and reversal during the enlightenment and the industrial revolution. We have been moving backwards over the last100 years to get to this point of absurdity.

Lots of education to do to find out how it was done but ultimately you need to be in the business of creating money and Propaganda. Another Swiss report had over 60% of wealth generating assets being owned by less than 50 entities.

[GigaCoin]

1.What sort of businesses, stocks etc. are the 85 involved in? I don't want specific company names just the type of trades.

2.How did they accumulate so much money during a period of bad economic environment?

I noticed something was up this past year when I read that luxury cars have increased in sales while other industries are struggling. At first I thought is was because of the new millionaires in china but their economy hasn't been good lately.

Yep its true, I've read articles on how high end markets are booming since the past 5 years, you look around you and you see standards of living are plummeting with cost of living skyrocketing. Yet supercars, yatchs, high end jewelry , mansions, designer fashion, premium butler services, and other elite luxury items and services are at high demand and companies within the luxury industry are doing pretty well.

There is no doubt that the wealthy have been getting richer in the past decade and middle class and poor poorer. Not because of freemarkets but the exact opposite.

[travel-trousers]

These 85 people could lose half their money and not even notice....

[Adrian-x]

These 85 people could lose half their money and not even notice....

They don't use money to quantify there wealth. Redistribution of there wealth would disrupt the homeostasis to the system with a resulting power struggle and war. They need to rethink there role as the homeostasis is being disrupted by there existence.

[dissident]

In 10 years if bitcoin takes over the world it will be "85 people now own 50% of Bitcions"

Oh wait you can say that today already.....

I'm glad someone had the guts to say it before me. Everything that has been said about the 85 people here could be said about the top 2% bitcoin holders, and the situation is the same with crypto currencies. Be honest with your intentions when you are sitting on a pile of coin hoping for it to shoot to the moon!

[Adrian-x]

In 10 years if bitcoin takes over the world it will be "85 people now own 50% of Bitcions"

Oh wait you can say that today already.....

I'm glad someone had the guts to say it before me. Everything that has been said about the 85 people here could be said about the top 2% bitcoin holders, and the situation is the same with crypto currencies. Be honest with your intentions when you are sitting on a pile of coin hoping for it to shoot to the moon!

Owning 50% of something small like Bitcoin is not comparable with owning more wealth than half the world's population.

Also consider what ever wealth Bitcoin represents is backed only by what people who want to use it are willing to part with for it.

i.e. Bitcoins value is voluntarily given, where as the fiat money makers just target to take value away, between 2 or 3% of the poorest people's value every year.

There is a theory of  Law of large numbers and the Central limit theorem which suggest wealth and Bitcoin will never be equally distributed. Bitcoin will increase in value and crash over and over until this equilibrium is reached.  

Bitcoin may look similar to current wealth distribution but it doesn't represent even 0.00001% of the world's wealth. It can only grow as a result of distribution moving to resembling a normal distribution curve.

The big holder's know this it's not about having all the Bitcoin's it's about creating the most wealth in Bitcoin. The wealth won't materialize if the distribution isn't optimal. And just so you know it won't look anything like the 99% - 1% of today's distribution.

[threaded]

ITT: More reporters and posters that don't understand the universality of the Pareto Principle.

https://en.wikipedia.org/wiki/Pareto_principle

I was just about to post the same thing, but thought to check someone hadn't achieved frost piss. ;-)

I think it need elucidating to some though: Pareto said something along the lines that 80% of his garden peas came from 20% of the pods.  Juran noticed 80% of the wealth was owned by 20% of the population.

Now, you can extend that: of that 20% likewise 20% of those people hold 80% of that wealth too, and similarly in that group too 20% holds 80% of the wealth.  Now you reach a limit as humans are countable.

i.e. it's a simple power law distribution applied to integers.

So, when you read 85 people own 50% of the world's wealth it is nothing more than fun with statistics time.