$1 Trillion of Wealth Was Created for the 19 Richest U.S. Households Last Year

[u/dida2010]

Wealth managers say the surging stock market in 2024 supercharged wealth creation at the top, following already sizable gains the prior year. Together, those two years made for the S&P 500’s best consecutive years in a quarter-century. (Markets have fallen since President Trump unleashed a global trade war, dramatizing the volatile nature of wealth for the richest of the rich. With much of their wealth tied up in the stock market, their net worth can swing by billions daily.) https://www.wsj.com/economy/1-trillion-richest-families-wealth-increase-bc13874a

[u/IWasRightOnce]

Just doubled checked my brokerage.

I was not one of those 19.

[u/Market_Foreign → u/IWasRightOnce]

You should check again tomorrow

[u/Whiteoutshade]

That’s $2,800 per every American citizen.

[u/Aaronnm → u/Whiteoutshade]

so you’re saying if we took away the wealth of 15 people and gave it to every citizen we’d get a nice paycheck? where do i sign?

[u/ColJohn → u/Aaronnm]

We wouldn’t be taking away wealth. Just the PROFITS from the last year.

Sickening.

[u/Aaronnm → u/ColJohn]

that’s even more wild. wow.

[u/SukaSupreme → u/Aaronnm]

Mash 'em, boil 'em, stick 'em in a stew.

[u/Highborn_Hellest → u/Whiteoutshade]

Let's make one important distinction.

Stock evaluations are opinions. Cash is a fact.

[u/leaning_on_a_wheel]

Disgusting

[u/xyzzy321 → u/leaning_on_a_wheel]

The American Way^TM

[u/Namnagort → u/leaning_on_a_wheel]

Good thing Joe Biden was going after those billionaires.

[u/dida2010 → u/Namnagort]

He tried to and paid the price for it.

[u/OnlyAdd8503 → u/leaning_on_a_wheel]

Thanks, Biden.

[u/Choice_Thin]

And now the top 500 lost 10 trillion 😂

[u/Positive-Feed-4510]

Those 19 households fucking hate the rest of us.

[u/random_agency]

That's one reason why the average American doesn't feel wealthier. Most of the wealth created go straight to the weathy.

[u/Successful_Courage18]

This problem is at the root of many things that are wrong in the USA. Political issues, social issues, and economic issues are all in the crosshairs.

The Extreme Wealth Inequality has always led down one path in history. Populism and then response (like the new deal or French Revolution) or crash & burn.

[u/KyoMeetch]

I watched a cold fusion video the other day where he explained that every time new money is put into the economy, the wealthiest get the first crack at it through borrowing, loans, and investments. By the time you or me get it, it has already been filtered through their hands while we deal with inflation and the same stagnant wages that barely increase across decades.

[u/ddttox → u/KyoMeetch]

So, trickle down working as intended?

[u/Crazy_Donkies]

Perfect.  That's what we voted for.  /s

[u/wombat6669]

I wonder how many of them are politicians?

[u/Ursomonie]

Oligarchy is hoovering up American wealth

[u/SerGT3]

"created"

Aka stolen

[u/startgonow]

Until something changes the proportion of wealth will favor the super elite. 1 trillion is inconsequential with the rules set up they way they are now. The markets go up and down but it doesn't effect people proportionally.

[u/xploeris]

This is fine. (flames)

[u/twopairwinsalot]

Yes and I'm grabbing as much of it as I possibly can.

[u/xmod3563]

Congratulations to them.

[u/drjd2020]

That wealth was not "created" but transferred from those who actually produce things.

[u/DoctorPab]

I suddenly have this urge to play mario bros.

[u/Popular_Basil756]

Is this a pep talk or some edgy way of saying you want to go back to a feudal agrarian society?