cross-posted from : https://lemmy.zip/post/57305272

Total billionaire wealth in the EU reached €2.4 trillion by late November, exceeding Italy's entire GDP of €2.2 trillion and approaching France's €2.9 trillion economy, a new Oxfam report found.

Archived version: https://archive.is/20260118190308/https://euobserver.com/health-and-society/ara3abf5ee

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[–] 66 points 9 months ago

Recent high-profile acquisitions include Jeff Bezos purchasing the Washington Post, Elon Musk buying Twitter (now X), and Patrick Soon-Shiong acquiring the Los Angeles Times. A billionaire consortium also bought significant stakes in The Economist.

In France, far-right billionaire Vincent Bolloré has transformed CNews into what critics call the French equivalent of Fox News. In the United Kingdom, three-quarters of newspaper circulation is controlled by just four wealthy families.

This is amazing. News and communication in the internet age was supposed to be democratised publication and agency to the voice of the average person, and it is to a small extent, but for the most part society was just like

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