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Sat Aug 10, 2019, 10:23 AM

The World's Wealthiest Family Gets $4 Million Richer Every Hour

The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last year’s Bloomberg ranking of the world’s richest families.

At that rate, their wealth would’ve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.

The Walton fortune has swelled by $39 billion, to $191 billion, since topping the June 2018 ranking of the world’s richest families.

Other American dynasties are close behind in terms of the assets they’ve accrued. The Mars family, of candy fame, added $37 billion, bringing its fortune to $127 billion. The Kochs, the industrialists-cum-political-power-players, tacked on $26 billion, to $125 billion.

https://www.bloomberg.com/features/richest-families-in-the-world/?srnd=premium

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Reply The World's Wealthiest Family Gets $4 Million Richer Every Hour (Original post)
left-of-center2012 Aug 10 OP
Kid Berwyn Aug 10 #1
Yavin4 Aug 10 #2
Yo_Mama_Been_Loggin Aug 12 #3
zackymilly Aug 12 #4

Response to left-of-center2012 (Original post)

Sat Aug 10, 2019, 10:33 AM

1. How many of their employees need food stamps?

Medicaid?

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Response to Kid Berwyn (Reply #1)

Sat Aug 10, 2019, 10:47 AM

2. Exactly.

That's the source of their wealth.

The rich have convinced Americans to devalue labor. Because these employees don't have expensive degrees or can program computers, they don't deserve a middle class wage because their jobs are considered "routine". And therein lies the problem. The value of the labor is evident in the wealth that it creates, not the daily task.

Look at it this way. A professional athlete's tasks are routine as well, but because these players have unions, they get their fair share of the value that they create.

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Response to left-of-center2012 (Original post)

Mon Aug 12, 2019, 02:02 PM

4. They can never spend all that money. Share it with your employees!

Their income from one day can buy the land, build a Walmart and stock it.

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