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IPFS News Link • Economy - Economics USA

U.S. Billionaires Got $1 Trillion Richer During Trump's Term

• Bloomberg Quint

Four years ago, America elected its first billionaire president. Since then, the nation's 200-or-so wealthiest people -- a cohort representing 0.00006% of the population -- have increased their combined wealth by a staggering $1 trillion.

Now, in a moment of peril, a polarized nation is voting again. The outcome will not only determine America's future, but also the arc of the country's largest fortunes.

The forces that have concentrated so much wealth in so few hands were at work long before Donald Trump's unexpected victory. Whatever Tuesday's outcome, those factors, especially technological change, will continue to shape the nation's economy and politics.


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