<story><title>The wealth of the 25 richest families in the world soared 43% in the last year</title><url>https://www.bloomberg.com/features/2023-worlds-richest-families/</url></story><parent_chain><item><author>thinkingtoilet</author><text>Did the wealth of the poorest people rise proportionally as well? I would bet not. We are an era of extreme wealth inequality and it&amp;#x27;s clearly horrible for society.</text></item><item><author>walexander</author><text>And QQQ rose 47% this year. This does not seem surprising at all. The entire market went up in 2023.</text></item></parent_chain><comment><author>hedora</author><text>In the US, unions had a good year, but 43% pay raises in union contracts were mostly unheard of, so that part of the population probably isn&amp;#x27;t keeping up.&lt;p&gt;I wouldn&amp;#x27;t be surprised if wages in the parts of the global population that&amp;#x27;s currently industrializing (parts of China and India) went up by way more than 43% though.&lt;p&gt;One thing I&amp;#x27;ve realized in recent years (thanks to silicon valley stock options):  It&amp;#x27;s not that hard to get into a &amp;gt;99% income bracket for a year or two.  You basically just need to participate in an IPO-style windfall, and maybe split it over two tax years.  However, staying in that bracket is much harder; you need to have a windfall every year (so, be a successful VC) or be an executive.&lt;p&gt;For that reason, I&amp;#x27;d be interested to see income percentile statistics broken out over a 10 year period vs. annually.  Some people summarize this effect with the acronym HENRY (High Earner, Not Rich Yet).</text></comment>
<story><title>The wealth of the 25 richest families in the world soared 43% in the last year</title><url>https://www.bloomberg.com/features/2023-worlds-richest-families/</url></story><parent_chain><item><author>thinkingtoilet</author><text>Did the wealth of the poorest people rise proportionally as well? I would bet not. We are an era of extreme wealth inequality and it&amp;#x27;s clearly horrible for society.</text></item><item><author>walexander</author><text>And QQQ rose 47% this year. This does not seem surprising at all. The entire market went up in 2023.</text></item></parent_chain><comment><author>andrewmutz</author><text>I don&amp;#x27;t know about wealth, but in terms of wages the poorest people in the US saw faster inflation-adjusted wage growth than any other income bracket:&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.epi.org&amp;#x2F;publication&amp;#x2F;swa-wages-2022&amp;#x2F;&quot; rel=&quot;nofollow noreferrer&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.epi.org&amp;#x2F;publication&amp;#x2F;swa-wages-2022&amp;#x2F;&lt;/a&gt;</text></comment>