this post was submitted on 07 Dec 2024
31 points (97.0% liked)

United States | News & Politics

7353 readers
194 users here now

founded 4 years ago
MODERATORS
pangyuehung@lemmy.ml
yogthos@lemmy.ml
31
Billionaires' wealth more than doubles in 10 years: UBS (www.abs-cbn.com)
submitted 4 weeks ago by yogthos@lemmy.ml to c/usa@lemmy.ml
6 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] Bronzebeard@lemm.ee 2 points 4 weeks ago* (last edited 4 weeks ago)

This is just a factor of how math works. Anyone holding US equities, which has historically returned 7-8% inflation adjusted per year for over a century, would see their wealth roughly double every 7-10 years.