Record #COVID #Billionaire #Wealth #Surge: $5tn to $13tn in 1-yr: ” “How #Pandemic #stimulus made world’s u. . .

Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6799419670081392640

Record #COVID #Billionaire #Wealth #Surge: $5tn to $13tn in 1-yr:
How #Pandemic #stimulus made world’s ultra-rich most wealthier:
https://lnkd.in/epk-wyR: Total wealth of billionaires worldwide rose by $5tn to $13tn in 1-year, most dramatic surge ever registered by Forbes. As #virus spread, #central #banks injected $9 Trillion into #economies worldwide, much of that #stimulus went into #financial #markets with a record surge in the net worth of #ultrarich.

Over past two decades, as the global population of billionaires rose more than 5x, the largest fortunes rocketed past $100B. China is no longer as statist as admirers of Chinese #state #capitalism think. Not only did its billionaire population explosion dwarf all others in 2020 but together they added nearly $1T to their collective fortunes, which nearly doubled as a share of GDP to 15%. Before the 2010s, Beijing seemed to be enforcing an unwritten rule that no fortune should surpass $10bn. As big #internet companies took off, the net worth of their founders shot up and, perhaps before authorities could react, surpassed $10bn for the first time in 2014. Just seven years later there are more than 50 Chinese deca-billionaires.

Global Risk Management Network LLC: AIMLExchange™: C4I-Cyber™: AI-Quant-Cyber-Crypto-Quantum Leader

Record #COVID #Billionaire #Wealth #Surge: $5tn to $13tn in 1-yr: | Dr. Yogesh Malhotra
Record #COVID #Billionaire #Wealth #Surge: $5tn to $13tn in 1-yr: How #Pandemic #stimulus made world’s ultra-rich most wealthier: https://lnkd.in/epk-wyR: Total wealth of billionaires worldwide rose by $5tn to $13tn in 1-year, most dramatic surge ever registered by Forbes. As #virus spread, #central #banks injected $9 Trillion into #economies worldwide, much of that #stimulus went into #financial #markets with a record surge in the net worth of #ultrarich. Over past two decades, as the global population of billionaires rose more than 5x, the largest fortunes rocketed past $100B. China is no longer as statist as admirers of Chinese #state #capitalism think. Not only did its billionaire population explosion dwarf all others in 2020 but together they added nearly $1T to their collective fortunes, which nearly doubled as a share of GDP to 15%. Before the 2010s, Beijing seemed to be enforcing an unwritten rule that no fortune should surpass $10bn. As big #internet companies took off, the net worth of their founders shot up and, perhaps before authorities could react, surpassed $10bn for the first time in 2014. Just seven years later there are more than 50 Chinese deca-billionaires. Global Risk Management Network LLC: AIMLExchange™: C4I-Cyber™: AI-Quant-Cyber-Crypto-Quantum Leader
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Global Post AI-Quantum Finance & Trading Networks Pioneer Dr.-Eng.-Prof. Yogesh Malhotra is the “Singular Post AI-Quantum Pioneer” identified by Grok AI with R&D impact recognized among Artificial Intelligence (AI) and Quantitative Finance Nobel Laureates. As MIT-Princeton AI-ML-Cyber-Crypto-Quantum Finance & Trading and FinTech-Crypto Faculty-Industry Expert, and U.S. and Global Hedge Funds Advisory & Venture Capital CEO-CTO Teams Mentor, he has pioneered Silicon Valley-Wall Street-Pentagon Digital CEO-CTO Practices, Technologies, and Networks from world’s first-foremost-largest Global Digital Transformation Networks to New York State IDEA Award recognized Pentagon-USAF MVP Global Post AI-Quantum Networks pioneering Future of Finance and Trading practices as Trillion-Dollar Wall Street Hedge Funds and Investment Banks leader.