“Billionaires are raking in staggering profits off the backs of ordinary workers,” said Chuck Collins of the Institute for Policy Studies.
The collective wealth of US billionaires surged to $8.1 trillion in 2025 as working-class Americans faced a cost-of-living crisis made worse by President Donald Trump’s tariff regime and unprecedented assault on the social safety net.
An analysis released Friday by the Institute for Policy Studies (IPS) found that the top 15 US billionaires saw the largest wealth gains last year, with their collective fortune growing from $2.4 trillion to $3.2 trillion. That 33% gain was more than double the S&P 500’s 16% increase in 2025.
What IPS describes as the “elite group” of US billionaires includes Tesla CEO Elon Musk, the richest man in the world; Google co-founder Larry Page; Amazon founder Jeff Bezos; and Oracle executive chairman Larry Ellison.
Great summary, shame most people are so easily convinced by the billionaire class that taxing them would somehow affect themselves, that it’s all the immigrants’ fault, or that all the rich people would move away and then who’s going to create all those jobs?