wealth

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Richest 1% Now Control Record 50.1% of Global Wealth

According to a new report

(Newser) - Good news: Global wealth rose by 6.4% in 2017 in the fastest yearly increase since 2012, the Financial Times reports. Bad news: The distribution of that new wealth was as uneven as ever. According to Credit Suisse's 2017 Global Wealth Report , the richest 1% now account for a...

The Earth Has a New &#39;Richest Person&#39;
The Earth Has a New
'Richest Person'
Jul 27, 2017 10:45 AM CDT

The Earth Has a New 'Richest Person'

With a net worth of $90.9 billion, Jeff Bezos just surpassed Bill Gates

(Newser) - A strong morning for shares of Amazon has resulted in bragging rights for CEO Jeff Bezos: He is now the richest person on the planet. Bezos' net worth climbed to $90.9 billion about 10am EDT Thursday, putting him ahead of Gates at $90.7 billion, per Bloomberg . It's...

There's Now Only One Person Richer Than Jeff Bezos

He shut down rival's firm, gained $1.5B on same day

(Newser) - Amazon.com founder Jeff Bezos made a fortune on top of his existing fortune Wednesday and finished the day as the second-richest person on the planet. His company's share price surged $9 billion after its purchase of Middle Eastern e-commerce site Souq, adding $1.5 billion to Bezos' personal...

Gates So Rich He May Become World's First Trillionaire

Per latest Oxfam extrapolation

(Newser) - Eight billionaires on Earth boast as much money as the world's 3.6 billion poorest people—and one of those eight wealth-wielders has a good shot at ascending to the next level. CNBC reports that Bill Gates is on pace to become the planet's first trillionaire within the...

8 Men Are as Rich as World's Poorest 3.6B

Oxfam calls for crackdown on tax-dodging

(Newser) - A group of people that could fit into a minivan is richer than enough of the world's population to fill nearly 50 million school buses, according to Oxfam's latest shocking report on world inequality. Eight extremely wealthy men, six of them American, have as much wealth as the...

Sorry Liberals, Conservative Politicians Are More Attractive

And voters reward them for it, says study

(Newser) - Beautiful people enjoy a range of benefits in life above and beyond the sheer joy of looking in the mirror. Previous research has found that beauty influences popularity, grades in school, and salary, reports the Washington Post . So it might not be too far a stretch to suggest that beauty...

Level of Wealth in Trump Administration 'Unprecedented'

His cabinet is worth more than one-third of US households combined

(Newser) - With many Americans wondering where all the money is, they might want to check the pockets of the new Trump cabinet. Quartz reports the 17 people Donald Trump has selected for his cabinet or cabinet-level posts have a combined wealth of more than $9.5 billion. That's more money...

Trump Stacking His Team With Billionaires, Millionaires

His administration could be richest ever—worth up to $35B

(Newser) - Donald Trump ran on a "drain the swamp" platform in which he positioned himself as a man of the people. Which is why eyebrows are being raised at him tapping ex-Goldman Sachs bigwig Steve Mnuchin for Treasury secretary , billionaire investor Wilbur Ross for commerce secretary , and a handful of...

The World&#39;s 10 Richest Countries
The World's 10
Richest Countries
Nov 22, 2016 5:26 PM CST

The World's 10 Richest Countries

The US just makes the list

(Newser) - While some countries are rich in culture and history, others are actually rich. 24/7 Wall St. has compiled a list of the world's 25 wealthiest countries based on gross national income, which it says is a "more useful measure of national wealth" than gross domestic product. The site...

Meet the Billionaire Heirs to the Red Bull Fortune

Chaleo Yoovidhya left his family a $22B fortune

(Newser) - Among the richest humans on the planet when he died, Red Bull founder Chaleo Yoovidhya was a quiet-to-the-point-of-reclusive Thai entrepreneur who preferred duck farming to the trappings of wealth. And since the devout Buddhist's death in 2012, 11 of his family members have inherited his vast fortune, which Bloomberg...

Commuters' Study Reveals an Advantage for the Rich

Study finds that wealthy people get to sleep later

(Newser) - Chalk up one more health advantage for the rich over the poor: more sleep. Researchers in Colombia crunched data about the movement of residents in Medellin and Manizales and found some interesting patterns, they report in Royal Society Open Science . For instance, rich and poor people traveled longer distances to...

America&#39;s 10 Wealthiest Presidents
America's 10
Wealthiest Presidents
Oct 11, 2016 10:17 AM CDT

America's 10 Wealthiest Presidents

The first president was also the wealthiest: 24/7 Wall Street

(Newser) - It's not clear what Donald Trump's net worth is, but low estimates have it at about $3 billion, per 24/7 Wall St . If accurate, he would become the richest president in history by far. Still, Hillary Clinton's net worth of $75 million (with husband Bill) would put...

5 Richest and Poorest States
5 Richest and
Poorest States
Sep 16, 2016 8:44 AM CDT

5 Richest and Poorest States

Maryland is top, Mississippi is bottom

(Newser) - The median income in Maryland is a far cry from the median income in Mississippi, according to 24/7 Wall St . Its new ranking (based on this new 2015 Census Bureau data ) shows the richest and poorest states in the country, based on median household income in 2015. The top...

10 Wealthiest US Counties
 10 Wealthiest 
 US Counties 
Aug 2, 2016 11:47 AM CDT

10 Wealthiest US Counties

Enjoy the spoils, Virginia

(Newser) - It pays to reside in the DC area if you're a) into the political scene or b) looking for bragging rights to living in one of the wealthiest counties in the nation. The Code Black Group checked out median household incomes across the country and found Virginia and Maryland...

5 US Areas With the Largest Upper Class

Midland, Texas, is top

(Newser) - If you'd rather your beater car not stand out in a sea of sports cars, stay clear of Midland, Texas. The metro area has the highest share of upper-class residents in the country, according to a Pew Research report, which found the share of upper-income adults increased in 75%...

The 10 Richest Self-Made Women in America

The top spot goes to ... a roofer

(Newser) - As USA Today puts it, "the richest self-made woman in America is a roofer." Diane Hendricks, who owns America's largest wholesale roofing and siding distributor, tops Forbes ' second annual list of the country's richest self-made women—meaning they earned rather than inherited their cash. The...

Here's How Much It Takes to Be 'Wealthy' in Bay Area

Hint: It's a lot

(Newser) - Residents of the Bay Area in California think it takes more than twice as much money to be considered wealthy there than in the rest of the country, the San Francisco Chronicle reports. A survey of 1,000 residents by Charles Schwab found you need to be worth more than...

10 Best US Cities to Build Your Wealth

Surprise: Detroit outranks New York City

(Newser) - Want to get rich quick? Good luck with that. Buf if you're looking to live in a city that at least makes it easier to build up your savings, Bankrate has crunched some numbers. Taking into account factors such as the job market, the housing market, access to financial...

Only 5 People Are Richer Than Zuckerberg Now

His fortune surpassed the Koch brothers' on Thursday

(Newser) - Facebook CEO Mark Zuckerberg returned from paternity leave this week, NBC News reports. As a welcome-back gift, he officially became the world's sixth-richest person on Thursday. According to Bloomberg , his net worth increased by $6 billion on the stock market Thursday, lifting him past the Koch brothers. The 31-year-old...

Answer to a Whole Nation's Poverty? Its Richest Person

Top billionaire could end poverty in 3 countries, make inroads in others

(Newser) - As the world's richest and most powerful people leave the World Economic Forum in Davos, Switzerland, there was growing discussion about the impact the world's wealthiest could have, single-handedly, on the poverty rates of entire nations. One analyst at the Brookings Institution crunched some numbers and found that,...

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