The richest 25 dynasties on earth control £1.16 TRILLION as it is revealed that the world’s wealthiest families see their fortunes grow by millions of pounds every HOUR
- The world’s 25 wealthiest families own $1.4 trillion, up $250 billion from last year
- Walton family, behind US Walmart Inc. , accumulates $4 million more every hour
- America’s richest 0.1 per cent possess more wealth than they have since 1929
The world’s richest family is amassing millions of dollars more to their fortune every hour and tens of thousands every minute.
The Walton family, behind US super-giant Walmart Inc., accumulates $4 million more every hour, amassing wealth on an unprecedented scale – while employees starting work as a cashier at their stores can expect to earn just $11 an hour.
Moving up the Bloomberg rich list, the family has seen their fortune grow from $191 billion in June when they topped the list, to around $230 billion now – ever increasing.
Wal-Mart founder Sam Walton (centre) and his family is displayed at the Wal-Mart museum, March 17, 2005 in Bentonville, Arkansas
And they are not the only family amassing an inexhaustible fortune – the world’s 25 wealthiest families own $1.4 trillion in wealth, up $250 billion, almost a quarter, from last year, reports Bloomberg.
According to Bloomberg’s evaluation America’s richest 0.1 per cent possess more wealth than they have since 1929.
Elsewhere in Asia and Europe those topping the rich list are also amassing more wealth at an incredible speed.
The Mars Family: Jacqueline Mars (centre), and her granddaughters, Graysen Airth (left), and Katherine Burgstahler
Other families which top the rich list include the Mars family, with a confectionery fortune of $127 billion – which has grown by $37 billion since last year.
The Kochs followed shortly behind with their $125 billion ranking. The family made their billions in a business founded in crude oil, which has become a large US political donor.
Billionaire heirs are themselves stepping up to suggest a solution to the mass inequality caused by capitalism, suggesting more taxes for those with extreme wealth.
Liesel Pritzker Simmons, 17th on the Bloomberg rich list told Bloomberg: ‘If we don’t do something like this, what are we doing, just hoarding this wealth in a country that’s falling apart at the seams?
‘That’s not the America we want to live in.’
The Saudi Royal family were a new addition to the rich list this year, worth around $100 billion, reports Bloomberg.
However the list is not exhaustive, with many families such as the Rothchilds too difficult to assess, as their wealth is dispersed around the globe – meaning they are not placed on the list.
A photo of the Koch family ‘after a big family wedding’ posted to Instagram by David Koch