Combined wealth rises by 52.4% in the past year – ‘turbocharging’ inequality
The combined wealth of Australian billionaires has risen by more than 50% over the past year, new figures show, prompting concerns that the pandemic-triggered recession has “turbocharged” the gap between rich and poor.
The combined net worth of Australia’s billionaires dropped in March – when Covid-19 restrictions ramped up – before rebounding strongly and increasing throughout the course of the year, according to the Bloomberg Billionaires Index.
Continue reading…Combined wealth rises by 52.4% in the past year – ‘turbocharging’ inequalityThe combined wealth of Australian billionaires has risen by more than 50% over the past year, new figures show, prompting concerns that the pandemic-triggered recession has “turbocharged” the gap between rich and poor.The combined net worth of Australia’s billionaires dropped in March – when Covid-19 restrictions ramped up – before rebounding strongly and increasing throughout the course of the year, according to the Bloomberg Billionaires Index. Continue reading…