Whereas thousands and thousands of Individuals little doubt loved some extent of schadenfreude watching the correction in FAANG shares wipe out almost $1 trillion of worth from the most important US tech corporations: Mark Zuckerberg alone has misplaced almost $100 billion of his private wealth because the starting of 2018, and Amazon CEO Jeff Bezos has misplaced as a lot as $13 billion or extra in a single day. However that doesn’t change the truth that the world’s billionaires loved their highest-earning yr on document in 2017 as their wealth elevated by a mixed $9 trillion. ZeroHedge experiences: 

Helped by the asset-friendly insurance policies of the world’s largest central banks, the wealthiest 1% of the world now owns almost half the wealth. The 54 billionaires dwelling within the 54 UK alone have an mixture $160 billion in wealth, equal to over 6% of Britain’s GDP. In the meantime, the typical employee earns about $37,000 a yr. Virgin CEO Richard Branson earns that quantity in roughly 25 minutes.

Much more galling, Fb CEO earns the identical sum each 60 seconds. Bezos earns the identical sum each 28 seconds.