According to CNN, if you add up the net worth of the 400 wealthiest Americans, you come up with a combined net worth of $1,250,000,000,000. That’s $1.25 trillion.
That’s an increase of $120 billion from last year.
The article then goes on to describe who is in the list (only billionaires, no lowly millionaires). Warren Buffett and Bill Gates, pictured here, are at the top, But that’s not important to me today. This is what I really want to know:
Where did the $120 billion increase come from? The government didn’t just print 1,200,000,000 $100 bills and pass them out to a select few. The money that landed in the hands of the 400 richest had to come from existing money somewhere.
The best answer is the money came from other people, individuals not on the list of the 400 wealthiest Americans. Did your net worth increase by $300,000,000 last year, like the average richest 400? If not, it’s quite possible you’ve contributed nicely towards the increase of the elite.
Updated February 10, 2011 and originally published September 22, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.