Welcome to our new overlords

The world has some more billionaires, and they come from countries new to that game.  It’s the BRICs: “Brazil, Russia, India and China produced 108 of the 214 new names.”

Interesting historical note: “Before this year only the U.S. had ever produced more than 100 billionaires. China now has 115 and Russia 101.”

Interesting global note: “The [Asia-Pacific] region now has a record 332 billionaires, up from 234 a year ago and 130 at the depth of the financial crisis in 2009.”

If the world is straddled by an oligarchy, those oligarchs are diffusing around the world in new ways.

 

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2 Responses to Welcome to our new overlords

  1. librarybob1 says:

    I wonder how/when these various oligarchs actually collude. There seem to be various “species” in various positions relative to their legal status.

    That’s to say that while US billionaires acquired their wealth openly and legally (for the most part) that’s perhaps not the case with Russian billionaires — and whether or not the present Russian government cares is an ongoing issue. Also, the relationship between the Chinese billionaires and the “communist” central government has to have some internal complexity, no?

    (An aside: I do suspect that the Chinese Communist party will develop parties “from within” even while harshly suppressing those developing “from without.” In the end, parties.)

  2. Good question, Bob. Perhaps identifying networks across these billionaires would tell us something about world politics in the near future.

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