In this article, we will discuss Oligarchs Statistics 2023
However, the term ‘oligarchy’ refers to any country dominated by a few affluent, often selfish or corrupt individuals. China, Russia & America are all examples of modern oligarchies.
Table of Contents
Statistics and Facts about Oligarchs In General
The gap between the world’s wealthiest 1% & the rest of us (often known as the 1 percent and 99 percent, respectively) is mind-boggling.
The vast bulk of the world’s wealth is concentrated in the hands of a small group of people known as oligarchs.
Let’s look at some statistics and information about oligarchs in general:
- The word oligarchy (oligarchia) was coined by Aristotle, the ancient Greek philosopher, to describe the rule of the few when wielded for personal advantage.
- The world’s billionaire oligarchs’ net worth has risen from less than $1 trillion in 2000 to more than $12.7 trillion in 2022.
- Since 2014, the large bulk of oligarchs on Forbes’ annual list of the world’s richest people have come from the United States.
- Following Vladimir Putin’s invasion of Ukraine, there will be 34 fewer Russian billionaire oligarchs in 2022 than there were last year.
- Following the Chinese government’s crackdown on internet enterprises, there will be 87 fewer Chinese billionaire oligarchs in 2022 than there was last year.
- Since its adoption of capitalism in the 1970s, China has been regarded as an oligarchy.
- Since the demise of the Soviet Union in 1991, Russia has been called an oligarchy.
- The United States of America (USA) is nowadays sometimes referred to as an oligarchy because of the extreme inequality and discrepancy in wealth distribution. With 735 billionaires totaling a combined $4.7 trillion, The United States of America (USA) has the largest number of oligarchs in the world.
- Having 607 billionaires worth $2.3 trillion, China has the second-highest proportion of oligarchs in the world.
- Because most oligarchs invest their money in publicly traded stocks and shares, their personal net worth might fluctuate significantly from year to year.
- Elon Musk, co-founder and CEO of Tesla, is currently the world’s wealthiest oligarch, with a net worth of $219 bn; he is followed closely by fellow American oligarch; the founder and CEO of Amazon, Jeff Bezos, with a net worth of $188 billion.
- Only about 2,750 billionaires control about 3.5 percent of the world’s wealth, however, oligarchs in countries classified as oligarchies can hold significantly more of the country’s wealth.
- For example, in America, the richest 1% of citizens possessed 38.5 percent of the country’s wealth.
- Many countries throughout the world slapped harsh economic penalties on Russian oligarchs in 2022 as a unilateral response to Vladimir Putin’s illegal invasion of Ukraine and war there.
Oligarchs Statistics By Country
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Conclusion: Oligarchs Statistics 2023
When compared to the small number of oligarchs alive today, they control a disproportionate share of the world’s wealth. They control the majority of us because of our wealth. Oligarchies are countries such as China, Russia, Iran, and the United States.
None of the sources are mentioned on the website from where the article has been paraphrased.