Pray For The Billionaires, You Guys

Income inequality is the very, very top, anyway.

More billionaires are splitting fewer billions between them, with the 1,397 members of the 10-figure club averaging $300 million less apiece than a year ago. Which is basically as great an indignity as being one of the 160 now tarred with being mere hundreds-of-millionaires, or of being beaten by an index fund.


“The Second Gilded Age has paused,” the study stated. “Wealth transfer and commodity price deflation are putting billionaires under pressure at a time when technology and finance, the motors of great wealth creation, have stalled.”

Billionaires Fall on Harder Times [WSJ]