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.
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.
Sources:
None of the sources are mentioned on the website from where the article has been paraphrased.