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Australian billionaires increased their wealth by almost $600,000 a day on average over last year, report shows (www.theguardian.com)
submitted 9 months ago by to c/australia@aussie.zone
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Data collected by Oxfam shows 48 billionaires hold more wealth than bottom 40% of the population – 11 million people – combined

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[–] 3 points 9 months ago* (1 child)

It's a quirk in how companies are valued. All shares of a company are assumed to have the value of the last ones that sold. Even though 99%+ are not available for sale on a given day.

So the money doesn't actually exist.

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