If any of you reading this happens to be a family member of a multi-billion dollar dynasty, I have great news — you are much richer than you were last year! A new report from Bloomberg states that the wealth of global dynasties increased by 43% in the last year.
From Bloomberg [paywall]:
As a group, the world’s richest families have gotten $1.5 trillion wealthier since the last ranking, and the new tallies from the Middle East weren’t the only noteworthy shifts. Among the biggest gainers was a different kind of royal house: the sixth-generation dynasty behind luxury brand Hermès, who added $56 billion to become the world’s third-richest by eschewing fads and cultivating loyalty.
Meanwhile, back on planet earth, white households have 9 times as much wealth as Black households and 5 times the wealth of Hispanic households.
