Not quite five years ago, I wrote about a select group of enormously rich people that I dubbed the Trillion-Dollar Club. Who belonged to this exclusive club? I asked readers back then to imagine everyone in America standing in a line, with the nation’s richest at the front of that line and our poorest at the back.
Suppose we asked all those Americans standing in line to start walking through a gate, one by one, the richest first, until the collective wealth of those who had walked through totaled $1 trillion. Those who made it through that gate would automatically become charter members of America’s Trillion-Dollar Club.
How many members did this exclusive club have nearly five years ago? According to Forbes magazine calculations, just 51.
I found that level of wealth concentration that incredibly obscene.
Now, nearly five years later, that 51 almost seems like the good ol’ days. Over recent years, America’s Trillion-Dollar Club has become even more exclusive. Today, according to the latest Bloomberg estimates, we don’t have to count out 51 billionaires to assemble a group with a combined fortune of $1 trillion. Here in 2018 we can fill our Trillion-Dollar Club roster with just America’s 20 richest individuals.