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While the U.S. elite increased their wealth in 2021 the middle class was severely impoverished

In 2021, the wealthiest U.S. billionaires increased their wealth by more than $340 billion, while the wealth of the U.S. middle class was severely impoverished.

Among the billionaires who benefited are several big-name billionaires such as Elon Musk, Jeff Bezos, Bill Gates, Larry Page, Mark Zuckerberg, Sergey Brin, Steve Ballmer, Larry Ellison, and Warren Buffett.

According to the Bloomberg Billionaires Index, the 10 wealthiest people in the world collectively added more than $400 billion to their wealth during 2021. 

Tesla co-founder Elon Musk increased his wealth by $121 billion in the last year, a more incredible growth than any other billionaire in the world. Meanwhile, Amazon CEO Jeff Bezos increased his wealth to $195 billion while maintaining second place in the ranking.

Bill Gates, the co-founder of Microsoft, also showed a growth in his income, now owning almost $140 billion in wealth, although he is no longer the richest man in the world as he was for several years.

Meanwhile, Google co-founder Larry Page owns around $130 billion after increasing his wealth by $47 billion in 2021. Mark Zuckerberg, CEO of Meta, owner of Facebook, Instagram, and WhatsApp, has a net wealth of around $128 billion, thanks to an increase of $24 billion in 2021.

But it’s not all good news when talking about U.S. wealth. In fact, the middle class was hit hard during 2021.

77.5 million households in the United States belong to the middle class by possessing an annual income ranging from $27,000 to $141,000 per year. However, according to recent statistics, the national wealth share of middle-class households was reduced to 26.6%, while the share of the wealthiest 1% has increased to 27%.

In short, this is the first time in U.S. history that the income of the wealthiest 1% exceeds the entire middle class as a whole, following the trend in Latin American countries with the highest rates of economic inequality worldwide. 

In any case, the questioning of this increasingly wealthy and empowered elite is not only due to the enormous income gap generated. Instead, the most prominent criticisms are for the ideologies they promote and the damage they cause to society.

Elon Musk is frequently questioned for his technological innovations, which are accused of breaking with the values of scientific ethics, such as the development of intelligent robots that seek to replace human beings in specific tasks. 

Another example is Mark Zuckerberg, owner of the world’s most popular social networks, accused of monopolizing much of the information and censoring users who raise issues opposed to those of the leftist logic he promotes, breaking with any guarantee of the right to free speech. 

Bill Gates, another of the leaders of this elite that concentrates most of the economic power of the United States and the world, is accused of trying to impose on society, using his fortune, a discourse linked to the radical left on issues such as abortion, climate change, theories on systemic racism in the United States, the promotion of the opening of foreign exchange and unrestricted immigration. 

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