Sen. Bernie Sanders (I-Vt.) on Saturday warned that global wealth has become increasingly concentrated at the very top, pointing to new figures that showed that billionaire fortunes surged while billions of people remain far behind.
Billionaire Wealth Surge Fuels Inequality Debate
In a post on X, Sanders described what he called a “massive wealth inequality” crisis, citing data that the world’s roughly 3,000 billionaires collectively grew richer by about $2.5 trillion over the past year.
He said their combined wealth now stands at approximately $18.3 trillion.
Sanders also highlighted the scale of concentration at the very top, writing that “the 12 richest people own more wealth than the bottom half of humanity.”
“Our goal: create a global economy that works for ALL, not just the few,” Sanders added in his post.
US Wealth Gap Widens As Middle Class Shrinks
Earlier, Joe Rogan had warned that wealth inequality in the U.S. was growing, saying the middle class was shrinking and workers were facing rising financial pressure.
Chamath Palihapitiya argued the system was “out of balance,” noting that capital owners had gained more wealth than wage earners while taxes on labor remained higher than on investment income.
He also said automation and AI had intensified the divide by allowing companies to make more money with fewer workers.
Separately, long-term data showed that since 1976, wealth gains had been heavily concentrated among the ultra-rich.
The top 0.001% had seen massive wealth growth compared to modest gains for average households, while lower-income families had often carried more debt than assets.
The analysis suggested that asset owners had benefited far more than wage-dependent households, widening the overall wealth gap.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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