This was unprecedented.
It now appears that the wealthiest American billionaires grew their wealth by more than $340 billion during 2021 while the middle class appears to have sadly shrunk.
According to CNBC, American billionaires Elon Musk, Jeff Bezos, Bill Gates, Larry Page, Mark Zuckerberg, Sergey Brin, Steve Ballmer, Larry Elison, and Warren Buffett had a combined financial gain of $341 billion in 2021.
Furthermore, it was reported that Tesla electric car founder Elon Musk increased his wealth by $121 billion last year alone and Amazon’s Jeff Bezos had a total wealth of $195 billion at the end of last year.
Middle class America however saw a dramatic decrease in wealth. The middle class consists of roughly 77 million households across America who earn anywhere from $27,000 to $141,000 yearly. Due to the pandemic, millions of Americans lost out of business or job opportunities.
Currently the top one percent of income earners in the United States holds more wealth than the entire American middle class.