Week after week after week … the world’s wealthiest continue to see their wealth increase while the “common person” is lucky to keep their head above water. NINETEEN BILLION for 40 people in SEVEN days. Every $ that a billionaire gains in net wealth value is a $ that they can borrow tax free from themselves to use towards other investments. It’s not real money but it might as well be because billionaires can leverage their value at any time for any purpose. And when they die – they find creative ways to bequeath that money to their children via trusts and partnerships etc. Lots of ways to avoid the tax man.
Humans need to understand what the word exploitation really means and what it looks like.
Businessweek illustrates how all that wealth just trickles down within the family HERE:
Hutchison Whampoa Ltd. (13), Li Ka-shing’s biggest company, posted first-half profit that beat analysts’ estimates after boosting earnings from U.K. utilities, phone services in Europe and retail stores in China.
The 84-year-old last month transferred his son Richard’s stake in the family trust that controls Hutchison Whampoa and flagship developer Cheung Kong to his oldest son, Victor.
“His character is similar with mine and he is prudent when dealing with things,” the elder Li said at a press conference in Hong Kong Aug. 1. “I shall do my best to support him. I have the cash in the bank and he can take it anytime. It’s for him but I’m not encouraging him to take it all now.”
