The 50 richest families in the world have a combined net worth of $1.2 trillion dollars. The Koch family, the second richest name on the list, is worth a staggering $100 billion dollars. Could you imagine having that amount of money? It’s definitely enough to sustain several generations to come. How does one accumulate so much wealth? For many families, it isn’t just about success and business growth, but the business of building wealth through loopholes like philanthropy and loose taxation laws.
- Chuck Collins, director, program on inequality, Institute for Policy Studies.
- Dr. Ray Madoff, professor, Boston College Law School.
Links for more information:
- IPS: Silver Spoon Oligarchs: How America’s 50 Largest Inherited-Wealth Dynasties Accelerate Inequality
- Forbes: Billion-Dollar Dynasties: These Are The Richest Families In America