Category: wealth

wealth

Are rich people more intelligent? Here’s what the science says

Education, contacts and luck can play a considerable role when it comes to building up wealth.

Being born into a wealthy and highly educated family is a fortunate event. Likewise, random strokes of luck (like winning the lottery) do not come from years of hard work. We may even push the argument a bit further and conclude that being intelligent is a form of luck itself.

Many things that contribute to achieving financial success are beyond our control. Most, if not all, extremely wealthy people have been blessed by Lady Luck somehow.

Conversely, making the most of what luck brings us certainly matters. Granted, a good deal of individuals merely cash in the benefits of inherited privilege.

Regardless, many small and big fortunes stem from an intelligent use of the resources we are lucky to have been gifted with – whether they are intellectual, educational or socioeconomic.

Source: Are rich people more intelligent? Here’s what the science says

wealth

Big Tech Companies Are Becoming More Powerful Than Nation-States – scheerpost.com

 

The world’s biggest tech companies are now richer and more powerful than most countries. According to an article in PC Week in 2021 discussing Apple’s dominance: “By taking the current valuation of Apple, Microsoft, Amazon, and others, then comparing them to the GDP of countries on a map, we can see just how crazy things have become… Valued at $2.2 trillion, the Cupertino company is richer than 96% of the world. In fact, only seven countries currently outrank the maker of the iPhone financially.”

Source: Big Tech Companies Are Becoming More Powerful Than Nation-States – scheerpost.com

Uncategorized, wealth, wealth gap, Wealth Inequality

Booming global stock markets swell ranks of the super rich | Business | The Guardian

Global stock markets have boosted the fortunes of the super rich.

The global population of UHNW people, classed as those with more than $30m (£23m) in assets, increased by 12.9% last year to a record 255,810 people, according to a report by research firm Wealth-X.

Only 13.7% of UHNW individuals are women, but the number of women grew by 30% outstripping the 10% rate of growth for men. The study predicts that the size of the ultra-rich population will continue to increase, with the number of UHNW individuals expected to grow to 360,000 by 2022.

via Booming global stock markets swell ranks of the super rich | Business | The Guardian

wealth

Chart of the day: Two Aussies among world’s top 20 fastest-rising billionaires – ABC News (Australian Broadcasting Corporation)

Chart of the day: Two Aussies among world’s top 20 fastest-rising billionaires – ABC News (Australian Broadcasting Corporation)

wealth

Bernie Sanders warns of ‘international oligarchy’ after Paradise Papers leak | News | The Guardian

Bernie Sanders warns of ‘international oligarchy’ after Paradise Papers leak | News | The Guardian

wealth

US elections: The rich can’t be trusted with money – Al Jazeera English

The more they have, the more they screw up.

Source: US elections: The rich can’t be trusted with money – Al Jazeera English

wealth

Wealth abuse, taxation and religion – » The Australian Independent Media Network

By Brian Morris For three long years the Royal Commission into Child Sexual Abuse heard tragic testimony from thousands of victims of abuse perpetrated by prestigious religious institutions. And there seems no end — whether to the depths of child exploitation, to inaction by churches for preventative solutions, or to delays in compensating their victims.…

Source: Wealth abuse, taxation and religion – » The Australian Independent Media Network

wealth

Tony’s war on terror – » The Australian Independent Media Network

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By Vanessa Kairies Earlier on in the year I was analysing a summary of the Budget. Of significant interest to me, was the tens of billions allocated to defence, including setting up a new military base in Afghanistan. I thought this was very odd at the time. I had many a conversation with folks trying…

Source: Tony’s war on terror – » The Australian Independent Media Network

wealth

Charts: Who Are the 1 Percent?

Occupy Wall Street has focused national attention on the vast majority of Americans who have been left behind by the economic growth of the past few decades. But if OWS is the voice of the 99 percent, who exactly are the 1 percent?

A quick look at the numbers reveals that they aren’t all bailed-out Wall Street execs or brokers pulling down fat bonuses. That’s just some of them:

Even though the richest 1 percent of Americans don’t all work on Wall Street, they do control a disproportionate amount of its wealth, including nearly half of all stocks and mutual funds and more than 60 percent of securities.

But you can’t beat this chart for the most dramatic measure of just how wide the gap between the tippy-top and the 99 percent has become. While incomes for the superrich have skyrocketed in the past three decades, most Americans’ have flatlined.

ALSO: Check out our charts on income inequality, overworked America, and six common economic myths.

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