As the poor are getting poorer, the rich are getting richer, shrinking the middle class.
Forbes has recently released an updated worlds billionaire list while pointing to "a record year for ten-figure wealth".
According to the report, the world has 2,781 total billionaires, 141 more than last year and 26 more than the overall record set in 2021.
Together, the world’s billionaires have a combined wealth of $14.2 trillion.
The Unites States has the most number of billionaires at record 813, followed by China who has 473 billionaires. India landed in the third position with total of 200 billionaires.
US state California, known as the land of the rich, has 186 billionaires according to March 2022 statistics followed by New York and Florida.