Seeing the Kovid infection increasing, the central banks gave several lakh crores of rupees, most of it reached the rich.  |  Seeing the Kovid infection rising, the central banks gave several lakh crores of rupees, most of it reached the rich.


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  • Seeing The Kovid Infection Increasing, The Central Banks Gave Several Lakh Crores Of Rupees, Most Of It Reached The Rich.

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Ruchir Sharma, Writer and Global Investor - Dainik Bhaskar

Ruchir Sharma, Writer and Global Investor

  • How the world’s super-rich soaked up cash in the Kovid era, it increased the billionaires in the world

The global population of billionaires has grown more than five times in the last two decades and the largest wealth has exceeded $ 100 billion. I kept an eye on this wealth, not for thrill, but as a warning sign. As the Kovid infection progressed, central banks dumped 675 lakh crore rupees into the world economy, so that it did not submerge.

The bulk of this so-called grant money passed through the financial market to people who were unexpectedly wealthy. Within a year, the total wealth of the world’s billionaires has increased from 375 lakh crore to 975 lakh crore rupees. According to the Forbes list of 2021, by April 6, the number of billionaires in the world has risen from 2000 to 2700, the fastest growth rate ever.

In China alone, 238 new billionaires were added and their total number increased to 626. In the US, this number increased to 110 with an increase of 110 to 724 and in India it increased to 38 with an increase of 38. Tesla’s Elon Musk rose from Rs 1.875 lakh crore to Rs 11.25 lakh crore in a single year.

Statistics show that in which country the anger of the poor against the rich will be first

I look at these figures because it can tell in which country the anger of the poor against the rich will first come out. In 2010, the total wealth of US billionaires was 10% of the US GDP while in India this figure was 17% which was the highest in the world.

This figure is highest in Sweden where it has increased from 31 to 41 billionaires in a single year. In France too, the wealth of billionaires has increased from 11% to 17% of GDP. Mukesh Ambani and 1.7% Gautam Adani owns 2.7% of India’s GDP.

Anger is less in growing inequality
There is respect for the rich in America, Europe and China. The campaign to impose rich-tax is on in America, yet the public is not disgusted with Gates, Bezos or Musk. China has kept a check on billionaires like Jack Ma, yet the public is not avoiding them. The problem may be in Russia-Mexico.

In the top, the rich have a share of 75% of GDP in Mexico. The Russian rich account for 60% of GDP. India is at number three. Here the rich constitute 20% of the GDP but 55% of them are owned by the family houses.

What is the basis of these figures
The data of the top 10 emerging and 10 developed economies have been taken for evaluation. After comparing the wealth of the billionaires with the GDP of the country, it is seen that in which countries the family rich have more share and where the self-made billionaires are. Which country will remain calm in future and where will take the shape of the outrage movement. Though most of the billionaires in India do not earn in a corrupt way, but the perception of the elite billionaires has not changed among the people here.

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Mohit Yadav

By Mohit Yadav

Mr. Mohit Yadav holds a degree of M.A. in Mass Communication with specialization in journalism. He has a work experience of 6 years and has worked overseas also. He is chief journalist and covers National news. You can contact him here Email:- mohit@latestindianewstoday.com