It's grown 6,700% since 1983, to $144.7B in 2013 -- greater than the net worth of 1,782,020 average Americans.
Everybody knows that middle-class incomes have stagnated while those of the richest Americans have skyrocketed, but trend is even more pronounced when you look at the relative fortunes of the super-duper rich. Consider the Walmart heirs: Since 1983, their net worth has increased a staggering 6,700 percent. According to a report released today by the union-backed Economic Policy Institute, here's how many Americans earning the median income it would have taken to match the Waltons' wealthin a given year.
The Walmart Heirs Are Worth More Than Everyone in Your City Combined
[Josh Harkinson/Mother Jones]
(Image: Aerial Photography: San Jose, Santa Clara and Vicinity, Joe Wolf, CC-BY-SA)
Evan Greer from Fight for the Future writes, "At this moment in history, it's just not okay for tech companies to support government agencies that are openly violating human rights. But while Salesforce's executives have been speaking out against US immigration policies, the company is maintaining a multimillion dollar contract with US Border Patrol. We […]
PepsiCo is buying SodaStream for $3.2 billion. SodaStream’s products, marketed as a healthy alternative to sugary sodas, fit Pepsi’s goal of “making more nutritious products while limiting our environmental footprint,” (Pepsi CEO Indra) Nooyi said in a statement. “Together, we can advance our shared vision of a healthier, more sustainable planet.” (CNN)
Economists like Alberto Alesina and Silvia Ardagna reshaped the world when their theories of "expansionary austerity" were put into effect after the 2008 crisis: the idea that governments could "increase taxes, cut spending, and grow strongly" was powerfully tempting to the world's leaders, who saw in them a way to pull out of a recessionary […]
Drones are undeniably cool, but not all of us have the Top Gun-level piloting skills required to fly them—unless you’re using TRNDlabs’ new Spectre Drone. Designed new and expert pilots alike, this drone is loaded with fly assist features to make piloting easy, all the while you explore using its built-in HD camera. It’s available in the […]
Whether you’re set to give the toast at your best friend’s wedding or a presentation at work, you’ll be relying on those public speaking lessons you slept through during high school. Scary thought, right? Thankfully, the Public Speaking Bundle is loaded with hacks, tips, and techniques that will get you speaking more naturally and with confidence, […]
The Adobe Creative Cloud suite is the foundation on which many creatives build their careers, but some of its programs, like Photoshop and InDesign, are notoriously complex, making it difficult for aspiring designers, photographers, and the like to break into their field. But, don’t get discouraged. The Pay What You Want: Adobe CC A-Z Lifetime Bundle […]