{"id":1180851,"date":"2022-01-02T17:04:11","date_gmt":"2022-01-02T22:04:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1180851"},"modified":"2022-01-02T17:04:13","modified_gmt":"2022-01-02T22:04:13","slug":"u-s-billionaires-grew-their-wealth-by-340b-in-2021-as-middle-class-shrinks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-billionaires-grew-their-wealth-by-340b-in-2021-as-middle-class-shrinks\/","title":{"rendered":"U.S. Billionaires Grew Their Wealth by $340B in 2021 as Middle Class Shrinks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-billionaires-grew-their-wealth-by-340b-in-2021-as-middle-class-shrinks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1180851&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/billionaires-640x335-1.png\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">The richest billionaires in the United States grew their wealth by more than $340 billion over the last year, while the wealth held by the American middle class shrinks.<\/p>\n<p>U.S. billionaires Elon Musk, Jeff Bezos,&nbsp;Bill Gates, Larry Page, Mark Zuckerberg,&nbsp;Sergey Brin,&nbsp;Steve Ballmer, Larry Elison, and Warren Buffett grew their combined wealth to about $341 billion in 2021, according to figures <a href=\"https:\/\/www.cnbc.com\/2021\/12\/30\/how-much-money-the-10-richest-people-in-the-world-made-in-2021.html\">published<\/a> by CNBC.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Elon Musk, the cofounder of Tesla, boosted his wealth by $121 billion in the last year \u2014 more growth than any other billionaire in the world. Meanwhile, Amazon executive chairman Jeff Bezos grew his wealth to $195 billion.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Bill Gates, cofounder of Microsoft, now holds nearly $140 billion in wealth while Google cofounder Larry Page holds about $130 billion after growing his wealth by $47 billion in 2021. Mark Zuckerberg, the CEO of Meta, which owns Facebook, Instagram, and WhatsApp, has a net wealth of about $128 billion thanks to a boost of $24 billion in 2021.<\/p>\n<p>At the same time, the American middle class has seen a dramatic drop in wealth.&nbsp;The middle class includes 77.5 million U.S. households with an annual income of $27,000 to $141,000.<\/p>\n<p>In October 2021, Breitbart News <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/10\/09\/feds-americas-elite-now-hold-more-wealth-than-entire-middle-class\/\">reported<\/a>&nbsp;the top one percent of income earners in the U.S. now hold more wealth than the entire American middle class. Specifically, the middle class has seen its share of national wealth plummet to just 26.6 percent while the top one percent\u2019s share of wealth has grown to 27 percent \u2014 the first time in U.S. history that the top one percent\u2019s share of wealth has outpaced the middle class\u2019s share of wealth.<\/p>\n<p>Since 1991, the top 20 percent of U.S. income earners have seen their share of national wealth grow by about 10 percentage points. The middle class, meanwhile, has seen its share of real estate, private businesses, and corporate equities declined in the past three decades.<\/p>\n<p>In 2019, economists <a href=\"https:\/\/www.breitbart.com\/politics\/2019\/10\/08\/economists-americas-elite-pay-lower-tax-rate-than-all-other-americans\/\">confirmed<\/a>&nbsp;the wealthiest Americans are paying lower annual tax rates than all other Americans. The wealthy, for example, paid an average tax rate of just 23 percent in 2018.&nbsp;This 23 percent tax rate for the rich means their rate has been slashed by 47 percentage points since 1950 when their tax rate was 70 percent.<\/p>\n<p><strong><em>John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter&nbsp;<a class=\"x5l\" href=\"https:\/\/twitter.com\/JxhnBxnder\" target=\"_blank\" rel=\"noopener external\">here<\/a>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The richest billionaires in the United States grew their wealth by more than $340 billion over the last year, while the wealth held by the American middle class shrinks. U.S. &#8230;<\/p>\n","protected":false},"author":14,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1180851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1180851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1180851"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1180851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1180851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1180851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1180851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}