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Steven Rosenfeld – 6 Noxious Facts About America’s Billionaires

When Facebook founder Mark Zuckerberg announced this week that he will give away 99 percent of his personal fortune—now estimated at $44 billion—during his lifetime, he was lauded in newspapers and TV broadcasts from coast to coast. But few people noted [3] that giving away his billions will still leave Zuckerberg, his wife Priscilla Chan and newborn daughter Max, with at least $440 million to live on.

Such vast sums of money are unimaginable to most of us. But according to a just-released report [4], “Billionaire Bonanza: The Forbes 400 and the Rest of Us,” by the Institute for Policy Studies, the Facebook founder is merely one of the 400 wealthiest Americans, whose net worth is growing while they evade taxation and drive economic inequality.

“The Forbes 400 provides a useful snapshot of the nation’s wealthiest individuals, an insight into a world most people will never witness firsthand,” the report said, as it lists some incredible comparisons that contrast the vast wealth held by a select few compared to average Americans. “The Forbes 400 also provides an insight into just how lopsided our economy has become: Just 400 people hold as much wealth as over 190 million.

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