According to Statista, in the second quarter of 2023, 69% of the total wealth in the US was owned by the top 10% of earners while the lowest 50% of earners only owned 2.5 of the country’s total wealth. When you read the news about how much money some companies and already rich people already have and what they earn each year, it can make you feel enraged and powerless. However, being constantly angry is no way to live either.
Our team here at Bored Panda has traveled all across Reddit to bring you some of the most mind-boggling facts about billionaires and the wealth gap. Scroll down to check them out. But keep in mind, some of them are so shocking that you might want to skip work today and work on some protest placards.
Bored Panda wanted to learn about envy and why people tend to think that having more money will make them happier, so we got in touch with Glenn Geher, Ph.D., a professor of psychology at the State University of New York at New Paltz and a published author. He was kind enough to shed some light on this. Read on for our full interview with the professor.
#21
"How long it would take to get one billion dollars from a job earning $100 an hour"
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63points
It’s not just running a business empire that’s stressful. When you become rich (especially when this happens quickly), your relationship dynamic can change quite a bit. Suddenly, it becomes difficult to distinguish between your real friends and people who cozy up to you because they expect gifts and a fancy lifestyle.
You can also become the target of scammers and con artists. Meanwhile, others, who feel envious of what you have, might talk behind your back, even if you’ve done nothing wrong.
#22
Even if you by some miracle manage to become that wealthy through completely ethical means (press X to doubt), STAYING that wealthy is a moral failing of an incalculable magnitude. You can get rid of most of that money and still live comfortably for the rest of your life and your children’s lives and their children’s lives. There comes a point- well before when you have the resources of a small country btw- that you have a responsibility to help other people.
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57points
#23
Here's how insane it is at the top.
Steve Balmer - the 9th richest person in the world with ~$86 billion- is closer to the broke janitor than the richest person in the world, Bernard Arnault with ~$190 billion.
57points
#25
How much did billionaires' net worth increase during the pandemic? 62%. How much did wages for workers rise? 10%. And the 10 richest men in the world? Their wealth doubled during the pandemic. The same pandemic that sent 100 million people into extreme poverty.
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50points
#26
The average American household makes around $60K a year, it would take that average household over 16,000 years to accumulate $1B. Think about that: SIXTEEN THOUSAND YEARS.
44points
